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When you choose to consolidate graduate student loans, you need to be aware of the different types of graduate student loans and how each needs to be consolidated differently.
Graduate Student Loan Consolidation allows you to consolidate your student loans into one easy to manage loan. It is available for most federal graduate student loans (FFELP).
Because of the special features of federal graduate student loans, you cannot include private student loans in your federal graduate student loan consolidation. Your private graduate student loans need to be consolidated separately.
Consolidate your federal student loans first. This will improve your credit score.
By consolidating your federal student loan first, you pay off your federal student loans with your federal student consolidation loan and your credit rating improves. You will have a fewer number of outstanding loans which also improves your credit rating.
Then you save on your private student consolidation loan.
One of the best investments you can make
is one in yourself. Congratulations for choosing to go to graduate
school and for making one of the best decisions for your future. But
investing in your future doesn’t come cheap. Now that you have
finished, it’s time to make the best choices to make your student debts
manageable.
You save money
Consolidating your federal
graduate student loans provides you the opportunity to get a low fixed
interest rate.
It's more convenient
Your federal graduate student loan consolidation simplifies
your finances by making only one payment each month. You deal with only
one lender which means less paperwork and you only have one monthly due
date to manage.
Lowers your monthly
payments
When you consolidate your loans, the
single monthly payment is usually far less than the total monthly
payments of separate student loans.
Improves
your credit score
Combining your federal graduate
and undergraduate student loan into a single consolidation loan
replaces the many outstanding student loans. Your credit rating
improves for having completed payment on outstanding loans. Having
fewer outstanding loans also helps your credit rating.
Improves your ability to get a mortgage
In
some cases, it may be necessary to consolidate graduate student loans
in order to get a mortgage.
Why? Mortgage lenders look at how much a person can afford to pay each month. If you have multiple student loans with total monthly payments greater than 8% of your income, your chances of getting the mortgage you want are limited.
You may be eligible for extra savings.
When you apply, make sure to look for further discounts to
your interest rate. For example, some lenders will further reduce your
interest rate for making payments electronically, making on-time
payments and consolidating within your grace period.
With
most lenders:
If you have Graduate Stafford, PLUS, SLS, Federal Insured, Perkins, HEAL, NSL, Direct and Guaranteed federal student loans you should qualify for federal student loan consolidation.
To find out, most lenders have a free, no obligation application form. They will be more than happy to let you know if you qualify (after all, they want your business). Look for their online application forms and fill them out.
A well established, nationally recognized lender can show you the best terms for you - simply apply. We will work with you to develop a suitable plan for your student loan consolidation.
There's no obligation for applying, just apply and find out what terms and benefits you can receive.
Private
Graduate Student Loan
Consolidation
Private Student Loan Consolidation allows you to consolidate graduate student loans into one easy to manage loan. Private graduate loan consolidation is treated the same as other private student loan consolidation. Click on the link to find out more details.
Consolidate Private Student Loans
Consolidate graduate student loans. It will simplify your financial life and save you money! Take financial control today!... Your future deserves it.