Consolidating federal student loan debt
You may be able to refinance your student loan debt and reduce your monthly payment or lower your interest rate to make your loans more affordable.
FAME is committed to helping you to be informed and make the best choice to manage your debt responsibly.
Refinancing is the process of replacing an existing student loan(s) with a new loan that has new terms (e.g. Consolidation is a form of refinancing to reduce multiple loans into a new single loan with new terms.
For practical purposes the term refinancing is used on this website to refer to both refinancing and consolidation of student loan debt.* You may be eligible to refinance or consolidate private and federal student loans with the lenders in the Network if you meet certain requirements such as: IMPORTANT: When considering refinancing or consolidating student loan debt, it is important to understand that you are receiving a new loan with new terms, interest rates and benefits.
You should compare the terms and conditions of the FDCLP to any private consolidation loan you may be considering.
Are you tired of managing multiple federal student loan payments, with multiple interest rates or multiple servicers? The program may allow you to consolidate your federal loans into one, and select the consolidation servicer of your choice.
It's important to keep in mind that there are distinct federal and private options for consolidating student loans.I want you to check out these stories, and really pay attention to what's going on here.Student loan consolidation is an option, but these stories also reflect a lot of the other things we've been talking about lately – being financially negligent while in school, and the need to setup side hustle income streams.Our expert representatives have access to your latest student loan information and understand all of your options.
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The Federal Direct Consolidation Loan Program (FDCLP) offered by the federal government allows borrowers to combine any of their outstanding federal student loans into a single new loan.