| Loan consolidation is a great way to reduce your monthly payments by up to 50%! With consolidation, you refinance one or more education loans. The original loans are paid in full and a new loan for the combined balance is originated—for a new term and often with a low interest rate. Remember, though, that your monthly payment may decrease, but since it will take longer to pay off your loan, you'll pay more in interest. Talk to any Sallie Mae professional for expert advice on loan consolidation and how it can save you money! |
Consolidation is helpful when you:
- Have heavy education debt.
- Want to lock in a fixed interest
rate.
- Want to reduce your monthly payment, paperwork, and check-writing responsibilities.
Use our secure electronic signature to submit your application today!
Sallie Mae offers:
- The SMART LOAN®
Account for consolidating
Stafford, Federal Direct Stafford, PLUS, Federal Direct PLUS,
SLS, Perkins, NDSL, HEAL, HPSL, LDS, NSL, Federal Consolidation,
and Federal Direct Consolidation loans.
- The SMART Advantage Account, specifically for Sallie Mae borrowers, for consolidating loans not owned by Sallie Mae and keeping your Sallie Mae-owned loans in a non-consolidation account.
Once you consolidate your loans, you can choose any of the repayment plans that suit your budget: level (monthly payment is fixed over the life of your loan), graduated, extended, or income-sensitive repayment.
Read about SMART LOAN® Consolidation and SMART LOAN® Repayment. Federal Loan Consolidation may be a better choice for you. Apply for loan consolidation online.
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in today!
