Consolidating stafford and perkins loans
If you have ever thought about consolidating your student loans, now is the opportune time.
Consider the following benefits of student loan consolidation to help you make a decision.
Lower monthly payments: While the rates on Federal Stafford and Federal PLUS loans vary each year, the interest rate on a federal consolidation loan is fixed for the life of the loan.
Life-of-loan servicing: Some student loan companies offer life-of-loan servicing, which means that the servicer will guarantee to never sell your loans.
You will remain with that servicer for the life of your loan.
Be sure to research student loan companies to see which ones offer this benefit.
Possible borrower benefits: Some loan consolidation programs give borrower benefits, such as auto-debit payment reduction and consecutive on-time payment reduction, that can enable you (if you are qualified) to save up to an additional 1.25% off your interest rate.
means bundling all your student loans into a single loan with one lender and one repayment plan.