As of July 1st 2008, those students who move FFELP or Federal Family Education Loan in a direct loan program by using a loan consolidation plan can also qualify for the above. Just pain consolidating student loans is also an option. A lot of the time students will consolidate funds in order to extend the amount of time they have to pay, and lower the monthly payments that they make.
Student loans generally come from two sources: the federal government and private financial institutions, such as banks. Both require repayment of the loan, but that’s where the similarities end
You can apply for your student loan consolidation in minutes, either online or with a quick phone call to NextStudent. It’s fast, easy, and free to apply, and there are NO fees, NO credit checks, and NO co-signers required.
NextStudent, a leading Phoenix-based education funding company, offers a student loan consolidation program with no application fees, no processing fees, and no credit checks. By consolidating your parent or student loans, your monthly payments could go down by up to 42%. Here’s an example: Estimated monthly payments on a $75,000 NextStudent Federal Consolidation Loan fixed at 7.25% and repaid over an extended term of 30 years are $512, versus estimated monthly payments of $879 on a $75,000 Federal Stafford Loan issued at 7.22% and repaid over 10 years — a 41.8% reduction in monthly payment amount
