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Several Types Of Student Loan Consolidation

By Jenna Faitherney

Student loan consolidation is a good option for students that have more than one student loan out at the same time, but before you go through for a student loan consolidation, you should find out more about student loans in general, what different types they are, and when consolidation is a good idea.

What Student Loans are

Student loan consolidations is low interest loans from the government which are used to help students pay their living and study costs while they are at university. For students who want to further their education and attain the career of their dreams, student loans may be the great solution if they are unable to pay for the costs of college themselves.

Kinds of Student Loans

There are some different kinds of student loans that you can pick from. There are Perkins loans, Parent PLUS loans, Stafford loans, Graduate PLUS loans, and much more.

The Perkins loans are one of the most common and perfect for undergraduate and graduate students, and give a 5% fixed rate of interest, maximum award of $4,000 per undergraduate year, and maximum award of $6,000 per graduate year. Then there are the Federal Stafford loans which are borrowed through lenders, and that have an interest rate fixed at 6.8%.

Student Loan Consolidation

Student loan consolidation enables you to combine all of your owing student loans in to a single loan. With student loan consolidation, you will wind up only owing a single lender, so there is less complication and fewer things to consider. Especially while you are going through college and you are incredibly busy, the last thing you want is something extra on your plate, therefore student loan consolidation can be a great idea.

If you are ever unsure which type of student loan is going to be best suited to you and your requirements or if you already have student loans and need to know if consolidation is the perfect choice for you, you need to get professional advice. You will find more than enough individuals who could be more than willing and able to assist you here and show you through the process.

Going to college will be one of the best things that you can ever do for yourself and can help you get to the places which you want in life. A lot of people cannot afford the outstanding costs of college today; but with the proper student loan, you will get your way paid through college and simply make monthly payments afterward to repay it. So, it is needed for you to have student loan consolidation.

If you are a student who is choosing student loan consolidation program and you would like to display particular event announcement or public message, leaving your message on enclosed bulletin boards and fabric bulletin boards would be a great choice for you.

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Article Citation
MLA Style Citation:
Faitherney, Jenna "Several Types Of Student Loan Consolidation." Several Types Of Student Loan Consolidation. 11 Jul. 2010. 30 Mar 2015 <>.

APA Style Citation:
Faitherney, J (2010, July 11). Several Types Of Student Loan Consolidation. Retrieved March 30, 2015, from

Chicago Style Citation:
Faitherney, Jenna "Several Types Of Student Loan Consolidation"

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