WHAT IS LOAN CONSOLIDATION?

Loan consolidation combines one or more eligible federal student loans into a new loan with a single lower payment offering a longer repayment period, and a fixed interest rate.

What are the advantages of loan consolidation?

• Consolidation lowers monthly payments by up to 51% or more.

• Consolidation may extend your repayment period based on your total education indebtedness—up to 30 years.

• Consolidation fixes the interest rate for the life of the loan, protecting you against future rate increases.