Federal Direct Consolidation Loans
Select up to 5 types of loan and click the button
Do you need to apply for a student loan to pursue your college degree?
Are you interested in applying for Federal Direct Consolidation Loans? For students that have too much financial burden from Student Loans, there are options before having to consider drastic measures such as bankruptcy or default. There are many advantages for students that choose to take Federal Direct Consolidation Loans.
Do you want to apply for Federal Direct Consolidation Loans?
Apply for Federal Direct Consolidation Loans today.
Federal Direct Consolidation Loans are very effective tools for reducing the amount of debt on student loans. Some of the benefits that Federal Direct Consolidation Loans offer are listed below:
One monthly payment – With Federal Direct Consolidation Loans the borrower need only pay one lender for the loan – The Federal government.
Easy payment options – There are four repayment options available to fit each borrower’s individual financial situation. Furthermore, at any time during the repayment of the loan, the borrower may switch to a more suitable repayment plan.
Lower monthly payments – The monthly payment required for Federal Direct Consolidation Loans is typically lower than the combined total of the individual loans.
Subsidy retention – For loans that have subsidy benefits, the subsidized portion of Federal Direct Consolidation Loans retain the subsidy benefits of the previous loan.
Interest rates associated with Federal Direct Consolidation Loans are based on a weighted averaging of the total interest of all the loans combined. This may in effect reduce the cost of the combined loans so that the required monthly payment amount. Another benefit which is provided by Federal Direct Consolidation Loans is that there are no fees or charges applied for consolidation – consolidation is free. Moreover, both parents and students may choose to consolidate their loans.
With Federal Direct Consolidation Loans, there are no minimum amounts required to qualify for the loan. However, private consolidation loans may require that there be a minimum balance – the usual minimum amount is between $5,000 and $7,500. It may be necessary to contact the lender to determine if there are any terms and conditions for their Consolidation Loans.
Do you want to apply for Federal Direct Consolidation Loans?
Apply for Federal Direct Consolidation Loans today.