Student Loan Consolidation is a practical repayment tool that bundles all your federal school loans into one loan, significantly reducing your monthly payment. Consolidating your federal student loans can reduce your monthly payment up to 53% and simplify your finances by making one payment per month. Federal student loans can not be consolidated with your private student loans. Consolidating Federal Student Loans prior to Private Student Loan Consolidation can improve your credit score and may qualify you for a better interest rate.

Federal consolidation loans are available to both undergraduate and graduate students. Multiple outstanding loans are refinanced into a single loan allowing you to make one monthly payment. There are several types of loans available to students. The simplest categorization is into federal student loans and private loans. Federally funded loans are administered initially through the US Department of Education's Federal Student Aid programs, and are usually the easiest to get student loan consolidation services for. These federal programs disburse about $60 billion a year in loans, work-study support and grants. Stafford loans are the most common form of federal loans for students, but there are a variety of other federal payment plans - among them military / ROTC plans to pay for college.

College graduates with any existing, nationally-marketed, private student loan can be eligible for the Student Loan Consolidator Private Consolidation Loan. There are no application fees or other out-of-pocket expenses to apply. If you graduated in 2007, or if you will be graduating within the next few months, we would like to congratulate you for obtaining your hard-earned degree. Also, we would like to provide you with some very important information regarding federal student loan consolidation.

Private and federal loans, along with scholarships, can be combined to fund your education. However, it's important that when it comes time to consolidate student loans, you do not mix the two types together. You should always consolidate your federal loans first, then separately consolidate private student loan debt.