Student loan consolidation is a way to combine multiple federal loans into a single direct consolidation loan. Credit Services of America can help with Student Loan Consolidation Program and help borrowers can streamline the bill-paying process, lower monthly payments and find a repayment plan that fits their needs.

It’s also a great way to access additional repayment plans and borrower protections, rehabilitate a defaulted loan or otherwise ease the stresses of debt repayment. Student loan consolidation may be a good option if you want:
• Lower monthly payments. Student loan consolidation extends the repayment period to up to 30 years, thereby lowering your monthly payment. Keep in mind, however, that you’ll pay more interest on your loan in the long run.
• Simplified payments. If you’re currently making student loan payments to multiple servicers, consolidation can streamline this process so you only have to pay off one loan.
• More repayment options and borrower protections. Consolidating federal loans enables borrowers to choose from a number of income-driven repayment plans. What’s more, borrowers who would not otherwise be eligible for Public Service Loan Forgiveness can qualify by consolidating their federal loans under a direct consolidation loan.
• A different loan servicer. If you’re having trouble with your current federal student loan servicer, consolidation gives you the flexibility to choose a new one. When completing your consolidation application, you’ll be asked to select a servicer for the new loan.
• An alternative to loan rehabilitation. If you already have student loans in default, loan consolidation can help you pay off that loan if you agree to repay the new loan under an income-driven repayment plan or make three voluntary, on-time and full monthly payments on a defaulted loan before consolidating it.

Credit Services of America has helped with many Student Loan Consolidations to help ease the burden of large payments. Lowering your debt can also help with qualification of loans.
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*Individual results may vary. Please call for more details and to discuss your own individual situation.