federal student loan consolidation, on federal student loan consolidation, federal student loan consolidation program, consolidation federal loan private student, federal student loan consolidation programs, federal government student loan consolidation, federal direct student loan consolidation, private and federal student loan consolidation, federal student loan consolidation rates, federal student loans consolidation

Managing your Federal student loan is very easy through our Federal Consolidation Loan Program. Give yourself more cash on hand and surprisingly lower your monthly down payment by lengthening the term of student loans. Plus, decrease several monthly loan payments to just one, saving you time and effort.

• Lower your monthly down payment by as much as 45% or as much as 49% if you are within your grace period.
• With College consolidation Loan Services lender discounts you may be able to lower your interest rate even further through our Borrower Benefits Program.
• Get an even lower interest rate by applying while you are still in your grace period.
• Streamline financial management with just one payment each month.
• No application fees or credit checks.
• No pre-payment penalties. So you can lower your interest charges by paying early.
• Take advantage of valuable tax benefits through our federal consolidation program.

Eligibility

You are eligible for a Federal Consolidation Loan if:

1. Your Federal Student Loans total minimum of $10,000.
2. You have not consolidated before, or left a loan out of the consolidation.
3. You have multiple FFELP (Federal Family Education Loan Program) lenders, a single FFELP lender along with a Perkins loan (college based school loan), Direct Loans along with a Perkins loan or just Direct Loans.
4. Are you in Deferment or Forbearance? The best part about consolidating your federal student loans is that you renew your deferment/forbearance by three years each giving you up to six years to postpone your student loan payments.

Eligible Loan Types

• Federal Subsidized and Unsubsidized Stafford Loans
• Federal Direct Subsidized and Unsubsidized Stafford Loans
• Federal Perkins Loans
• Federal Plus Loans
• Federal Direct Plus Loans
• Federal Supplemental Loans for Students
• Health Professions Student Loans/HPSL
• Federal Insured Student Loans/FISL
• Federal Nursing Loans/NSL
• Federal Consolidation Loans
• Federal Direct Consolidation Loans

 Discounts

College Loan Services Lending offers a variety of discount programs and exclusive offers to help you further reduce our already low, fixed interest rates. By taking advantage of these discounts and special offers, you could lower your interest rate by an additional 1.75%.

On-time Payment Discount
Make 36 consecutive on-time payments and you can reduce your interest rate
by 0.75%. The discounted rate continues for as long as you make your payments on time.

Automatic Payment Discount
Sign up to have monthly payments automatically withdrawn from your checking or savings account, and lower your rate an additional 0.20%. The Automatic Payment Discount applies upon receipt of the completed Automatic Debit Authorization Form, and continues for as long as you continue to make payments via automatic debit.

Grace Period Discount
It pays to consolidate your school loans right after graduation. Federal guidelines require your interest rate to increase 0.6% the day you exit your grace period and enter the repayment period. However, if you apply for a College Loan Services consolidation loan at least 30 days before your loan enters the repayment period and sign your application, you can lock in your grace period rate for the life of your loan. Once you sign your application, we'll simply lock in your rate, and hold your application until the end of your federally mandated, six-month grace period. It's a smart move and a real investment in your future.

Repayment Options

Depending upon the amount of your student loan debt, you can stretch your repayment term by up to 30 years. Lengthening the repayment term of your loan will significantly reduce your monthly payment. You should note that your extended repayment term will increase the total amount of interest you pay on your loan. However, because there are no prepayment penalties, you can reduce your interest cost by increasing the amount you pay each month or by paying off your loan early without a penalty or fee.

Available repayment terms for Federal student loans:

Consolidation Process

Once we receive your completed application, we will put it through the following five simple steps!

Step 1. Application Review
immediately after we receive your completed application, we update your file to show it has been received. Your application is then carefully reviewed by our loan processing department to check for errors and omissions. If there, are any changes or corrections, we will update your application and our records. If any additional information or clarification is needed, we will contact you by phone.

Step 2. Contact Current Loan Holder(s)
Using the information provided by NSLDS on your application, our servicer will send out for LVC's or Loan Verification Certificates to your current loan holders. They will then verify the actual payoff amounts and interest rates for the corresponding loans by their disbursement dates.

*Please verify that your account number, which is the same as your nine digit social security number is correct on the application and promissory note.

Step 3. Hold Period and Loan Verification
Our servicer will hold your application and promissory note in a secure file room until all the LVC's are received. This process takes approximately ten to twelve days from the time the servicer receives your application. *lf you are in your grace period and would like to exercise the entire period; your application will be held securely and processed for LVC's 60 days before the end date to ensure that you lock into your grace rates. The application is then held for funding until two weeks before the grace expiration date on your application.

Step 4 Eligibility, Review, and Payoff
once the LVC’s entire are received, the entire file is reviewed thoroughly, to make certain that all loan balances and interest rates are current and correspond to the amounts indicated by the NSLDS report. Once all of the loans to be included are found to eligible and fundable, a payoff amount is generated and sent to your current loan holder(s). Each of the loan holders will notify you that your loans have been paid in full upon receipt of their payoff.

* If it is determined that any of your loans are not eligible for funding, you will receive a letter to that effect.

Step 5 New account set-u
Welcome to your new College Loan Services Consolidation! Your new loan service will send you a welcome package on your new Federal Loan Consolidation. Included will be your truth in lending statement of your payoff(s) and your new repayment schedule which you have selected. Your new servicer will now be responsible for your entire loan servicing needs. If you have any questions or concerns regarding; billing, payments, receipts, or deferments/forbearance requests, contact them at the numbers provided.

Important Notes:

·        The processing of your new College Loan Services consolidation usually takes two to Three weeks. You should continue to make your regularly scheduled payments if you are in repayment, until you receive your Federal Loan Consolidation.

·        For your protection, the law mandates that all of your balances and interest rates be verified with your current lenders. If there is a discrepancy, you will be contacted and the corrections will be made by your new servicer.

·        In accordance with the Department of Education rules and regulations stated in the Higher Education Act of 1965, all interest rates are determined by the loan dates to which the loans are disbursed. The fixed interest rate that applies to your Federal Consolidation Loan will be a weighted average of your loan amounts and the corresponding interest rates given to those amounts. It is then rounded up to th nearest I /8th percent, which is mandated by the Department of Education for all Title IV Consolidation Lenders. All federal loan borrowers are subject to this weighted average and no federal lender may in any way change this formula.

·        Our company also Provide the best suggestion in the followings:

1.      federal student loan consolidation

2.      non federal student loan consolidation

3.      federal student loan consolidation program

4.      consolidation federal loan private student

5.      federal student loan consolidation programs

6.      federal government student loan consolidation

7.      federal direct student loan consolidation

8.      private and federal student loan consolidation

9.      federal student loan consolidation rates

10.  federal student loans consolidation

11.  federal consolidation loan application

12.  federal government loan consolidation

13.  federal college loan consolidation

14.  federal student loan forgiveness

15.  federal student loan Stafford

16.  federal student loan department of education

17.  federal student loan account

18.  federal student loan default

19.  federal student loan debt

20.  federal student loan pay

21.  federal student loan credit

22.  federal government

23.  federal programs

24.  financial federal

Frequently Asked Questions