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To speak to a University Loan Relief Student Loan Officer to get help now, call Toll Free: 866-442-0885
With University Loan Relief, you can reduce your student loan payments by 25, 50 or even 60%!
A consolidation loan from University Loan Relief can lower your monthly student loan payments, and combine your loans into one single payment. And with University Loan Relief, we never penalize you for prepayment, never charge you an application fee, and we promise the lowest rates possible for student loan consolidation.
Rates as low as 4.5%
No Credit Checks, No Fees, No Pre-payment Penalties
One easy Monthly payment
Online application can be completed in 10 minutes
The interest rates for student loans are quite low, but University Loan Relief can bring them even lower! Our expert financial aid planners can save you money by refinancing all of your student loans, whether federal or private, in one place.
Whether you are a student or parent, University Loan Relief can help you lower your payments, and combine your loans into one low, locked interest rate. Even if you have already consolidated loans before, we can refinance any loan from any institution. Stafford loans, PLUS loans, private loans, they are all eligible for consolidation. Have more money for the good things in life. Consolidate your loans with University Loan Relief today.
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What are the Basics of Student Loan Consolidation?
Student loan consolidation is basically a process of merging several student loans from different companies and banks into a single loan. To meet the expenses of a college education, a student usually borrows approximately $10,000 at an average interest rate of 6 to 8 percent from the federal government and private financial institutions. Over time, as the debt accumulates, the student typically finds it difficult to manage the payments of all the student loans that he has accumulated while he was in college. That’s where the need of student loan consolidation comes into play.
A student loan consolidation plan provides the following benefits:
- It allows a student to organize all his/her student loans and make them more manageable.
- A variable interest rate is the characteristic feature of all types of student loans, and it is primarily because of this feature that the payments become unmanageable. After student loan consolidation, the variable interest rate becomes a fixed interest rate for a certain period of time. This conversion lowers the monthly payments considerably.
- Lower monthly payments if the student opts for longer payment plans.
- Or, students are allowed to increase their monthly payments and pay off their debt more quickly.
- Student loan consolidation has no adverse affect on deferment terms.
Applying for student loan consolidation is a fairly straightforward process. A student is required to fill out an application form, which are generally available online. The eligibility specifications and other requirements differ from one lending institution to another. Once an application has been accepted, a notification email containing all the important information such as payment plan, payment schedules, etc. is sent. The lending institution pays off all the existing student loans, so after consolidation, the student doesn’t have to make countless payments to different student loan companies and banks. He/She makes only one payment to the lending institution, therefore consolidation is an effective way to make student debt manageable.
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