Learn how to reduce your monthly student loan payments After consolidating, you make one payment to one creditor each month instead of many.
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Frequently Asked Questions about Student Loans Debt Consolidation

Here are the answers to the most commonly asked questions about student loans debt consolidation.

What is student loans debt consolidation?

Student loans debt consolidation bundles all of your existing student loans into one, new consolidation loan. Usually, in doing so, student loans debt consolidation lowers your interest rates and monthly payment. After consolidating, you make one payment to one creditor each month instead of many.

How do I apply for student loans debt consolidation?

You can apply for free for student loans debt consolidation by clicking "start now" on our site. This will take you to our short online application. You do not need to know the details of your student loan portfolio to fill out the application. If you submit your application between 8 AM - 10 PM EST, one our of student loans debt consolidation representatives will contact you within 15 minutes to proceed with the process.

How long can I extend my repayment term?

If you are struggling to make your monthly payments now, extending your repayment term might be a good idea to reduce your payment burden in the short-term. Depending on the balance on your student loans, you can use student loans debt consolidation to extend repayment to up to 30 years. For those with $20,000-$39,999 in outstanding education debt, you may extend your term to up to 20 years. For those with $40,000-$59,999, you may extend your term up to 25 years. Those with $60,000 in debt and over can extend to 30 years. Remember that there are no prepayment penalties on consolidation loans, so you can always accelerate your payment schedule if you wish. Please visit our repayment options page for more information.

Who qualifies for student loans debt consolidation?

The ideal candidate for student loans debt consolidation will no longer be enrolled in school half time (have graduated or dropped out), will have never consolidated before, will be in a repayment or grace period on his/her loans, and will have at least $5,000 in student loan debt. Remember that you must have federal loans to qualify for federal student loans debt consolidation. Otherwise, you might consider private student loans debt consolidation. Parents and graduate students may also take advantage of student loans debt consolidation if they have eligible student/parent education loans.

Why should I consider student loans debt consolidation?

Student loans debt consolidation can help you save money. You can lock in a low, fixed interest rate for the life of the loan, reduce your monthly payments, extend your repayment term, and reduce your hassle by combining your loans into one easy monthly payment. Student loans debt consolidation can also help you improve your credit score by reducing your debt-to-income ratio. With the money you save from student loans debt consolidation, you can pay off expensive, high-interest credit card debt or make other valuable investments.