| Special Interest
Rate Incentive* |
| • |
Earn
a 0.25% interest rate reduction for enrolling in
automatic payments from a checking or savings account
(also referred to as ACH) |
|
Additionally, all borrowers get a 0.6% interest
rate reduction per federal rule when
they consolidate within the grace period, which
is the period within 6 months of
graduation. |
|
* Repayment benefits are subject to certain terms and conditions.
Borrower benefits will be forfeited in the event of failure
to meet qualification criteria or default. Default occurs when
loan payments fall more than 15 days delinquent. The lender
reserves the right to modify or discontinue these benefits without
notice.
Rates
Stafford loans disbursed on or after
7/1/06 have a fixed interest rate of 6.8%. Stafford loans
disbursed on or before 6/30/06 have a variable interest rate
determined by the 91-day T-bill rate and adjusted every July
1st. The interest rate on your new Consolidation loan will
be the weighted average interest rate of all loans being consolidated,
rounded up to the nearest 1/8th of 1%. The interest rate will
not exceed 8.25%.
In Grace
Consolidation
Grace is a period prior to repayment
where no payments are required. The interest rate on variable
rate Stafford loans is 0.6% lower during your 6-month grace
period than it is during repayment. If you consolidate during
your grace period, you can lock in your fixed interest rate
at a lower rate. However, doing so will cause you to lose
your grace period, and your loan will go into immediate repayment.
| In
Repayment Consolidation |
| By consolidating while in repayment
you can lock in at a low fixed interest rate. Your new
Consolidation loan will have a repayment term of up to
30 years, depending on the amount being consolidated.
|
| Learn
More About Repayment |
Terms
A federal Consolidation loan can reduce
your monthly payment by extending your repayment term up to
30 years. However, doing so may increase the total amount
of interest you will pay over the life of your loan.
Call Toll
Free at 1-888-809-1325 or email us at info@consolidationcenter.com |
Georgia
Cameron
