If you have a Perkins, Stafford, HPSL or Unsubsidized
Loan and the total balance exceeds $5,000.00,
you may qualify for a consolidation loan.

The consolidation program will allow you to combine
all of your student loan obligations into a single loan
and may lower your monthly payments.

The benefit is that you can get a low monthly payment
and lock in a fixed interest rate for the life of your loan.
 
Instead of making multiple payments to different lenders,
consolidation will combine your federal student loan payments
into one, monthly bill.

Depending on the total amount of your federal student loans,
you can extend your repayment term from 12 to 30 years.

What is the difference between a Perkins Loan Borrower
and a Direct Loan Borrower?

- Any student who on July 1, 1987 had no outstanding
balance on a National Direct, National Defense, or
Perkins Loan is a Perkins Loan Borrower.

- Any tudent who on July 1, 1987 had an outstanding
balance on a National Direct, National Defense, or
Perkins Loan is a Direct Loan Borrower.

This entry was posted on Thursday, November 30th, 2006 at 3:59 pm and is filed under Debt Consolidation, Student Loan Debt Consolidation. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.