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or dial
to discuss your reduction plan |
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| Single
Monthly Billing -- 3 Advantages |
|
| 1 |
Advantage:
Making Only One Payment |
| • |
The key advantage for student loan
consolidation is making one single
payment instead of multiple payments each month. |
| • |
That means less paperwork, less
chances of missing a deadline, less writing payment
checks, etc.
|
| • |
You will be consolidating all of your
student loans under one program. |
|
| 2 |
Advantage:
Select Your Repayment Term |
| • |
Depending on the amount being consolidated, you can stretch your repayment term by up to 30 years (see table below). |
| • |
Lengthening
the term of your loan will significantly reduce your
monthly payment, although you should note that
your extended repayment term will increase the total
amount of interest you pay on your loan.
|
| • |
But since there
are no prepayment penalties, you can reduce your
interest costs by increasing the amount you pay each month
or by paying off your loan early — without a penalty
or fee. |
| Total
Student Loan Debt |
Maximum
Repayment Term |
| $10,000
to $19,999 |
up
to 15 years |
| $20,000
to $39,999 |
up to 20 years |
| $40,000
to $59,999 |
up to 25 years |
$60,000
and greater |
up to 30 years |
|
| 3 |
Advantage:
Choose from (4) Plans |
| • |
You can select the repayment plan
that fits your budget. Take a look at these options: |
Level
Repayment Plan |
Best
suited for a borrower whose goal is to take charge of
repayment through streamlined single-billing convenience
and a fixed interest rate. It is also the most commonly
used plan.
- Fixed monthly payment for duration of the loan.
- Monthly payments credited to principal and interest.
- Lowest overall interest cost of the various repayment
options.
|
Graduated
Repayment Plan |
Best suited for borrowers whose
immediate earnings are low but are expected to
rise steadily in the years ahead.
Two year graduated plan:
- Low, mostly interest payments over the first two
years of repayment.
- Principal and interest payments begin in year three
of repayment.
Four year graduated plan:
- Low, mostly interest payments over the first four
years of repayment.
- Principal and interest payments begin in year five
of repayment.
|
| Income
Sensitive Repayment Plan |
With this plan, your payments are based upon your income
and are adjusted annually. It's best
suited to those with extreme financial problems who may be in danger of default:
- Payment obligations are calculated based on current
income level and are adjusted annually based on expected
total income.
- Payments must cover the interest that accrues between
scheduled payments.
- Higher finance charges over the life of the loan.
|
Extended
Repayment Plan
|
Best suited for borrowers who are
consolidating between $30,000 and $39,999 in debt, and
wish to reduce their monthly payment further, but only
qualify for a repayment term of 20 years or less:
- Low fixed or interest-only payments.
- An extended repayment term of up to 25 years.
|
| Apply
Online w/e-sign: click
here |
| or
dial toll-free to discuss your plan: 1-800-895-1911 |
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