Student loan consolidation
School Loan Consolidation is a practical repayment tool that refinances your school loans into one loan, significantly reducing your monthly payment.
How much can you save each month?
If you consolidate student loans right now, you could save hundreds of dollars a month. Here's a quick chart showing how much you could save on your monthly payments:
Total loans |
Current payments |
After consolidation |
Monthly savings |
$30,000.00 |
$342.48 |
$227.22 |
$115.26! |
$40,000.00 |
$456.64 |
$275.10 |
$181.53! |
$50,000.00 |
$570.80 |
$343.88 |
$226.92! |
$75,000.00 |
$856.20 |
$483.96 |
$372.24! |
$100,000.00 |
$1,141.59 |
$645.28 |
$496.32! |
Savings shown are based on the current Stafford Loan interest rate of 6.8%; borrowers in grace periods, with student loans other than Stafford (i.e. PLUS or Perkins loans), or with Stafford Loans older than July 1, 1998, will have different interest rates.