Don't be fooled if someone tries to suggest that this will save you money by getting you a lower interest rate.The interest rate may be lower than the highest of your interest rates, but it is also higher than the lowest of your interest rates.An offer that looks "too good to be true" probably is.
Get all the facts first before opting for a consolidation loan.
You may be relinquishing your deferment or repayment options.
You can consolidate your loans by visiting https:// Call us 800-294-0294 if you have concerns or need assistance. A consolidation loan combines several individual student loans with various interest rates and repayment schedules into one larger loan from a single lender.
Consolidation loans are available for federal loans, including the Federal Family Education Loan Program (Stafford; PLUS), Perkins, Health Professional Student Loans, Nursing, and Direct Loans.
Note that the weighted average does not fundamentally alter the underlying cost of the loan.