Consolidating stafford and perkins loans london dating service
The consolidation loan is a new loan, so the borrower needs to complete an application and a promissory note.
The borrower lists all of the various loans to be consolidated on the application.
The decision whether or not to consolidate can be tricky.
You may determine your interest rate by using the Repayment Estimator on the click on the Repayment & Consolidation tab.Student loan consolidation is a relatively easy concept to understand: it is the process of taking multiple student loans and combining them into one. Before consolidation, a student borrower might have multiple loans to pay back and many different loan balances to track.After consolidating his or her loans, a student borrower will have just one monthly payment and just one loan balance to maintain.Most of the current deferment and forbearance provisions of Direct student loans are retained after being consolidated.Specific deferment options include: Repayment terms range from 10 to 30 years, depending on the amount being refinanced.