Federal Student Loan Consolidations

In the United States both the Federal Family Education Loan Program (FFELP) and the Federal Direct Student Loan Program (FDLP) include consolidation loans that allow students to consolidate Stafford Loans, PLUS Loans, and Federal Perkins Loans into one single debt. This results in reduced monthly repayments and a longer term for the loan. Unlike the other loans, consolidation loans have a fixed interest rate for the life of the loan.

Press releases about Loans

What happens to your federal loans in the summer?
One question we get a lot in our financial aid forums concerns Stafford loans and the summer. And really there are two possible answers.

Stafford Loan Interest is Tax Deductible
Did you know that the interest you pay on your Stafford loan may be tax deductible. The interest you pay on the Stafford loan money that you borrowed is tax deductible up to $2,500 per year. This can be a huge that you should definitely take advantage of if you qualify!

Why get a Federal Stafford Loan?
First off, if you haven’t filed your FAFSA yet… get on it! Many schools’ deadlines have already arrived for financial aid, and the rest are all due within the next month. Without the information contained in your Student Aid Report (SAR) submitted to your school, they can’t begin to put together your aid package. OK — [...]

What happens to my Stafford loan if I leave school?
There are many reasons why you may decide to leave your college or university, financial or otherwise. So what happens to your federal Stafford loan then?

The perks of an unsubsidized Stafford loan
At first glance, taking out an unsubsidized Stafford loan might not seem like such a great idea. Unlike subsidized loans, interest begins to accrue right away, meaning it costs more in the long run. But in some cases, going the unsubsidized route can be useful, and give you a more proactive approach to paying off your education.

These loan news are provided by studentloannetwork.com