Lock in rates as low as 4.5% with H.E.L.P.

Consolidation benefits include:

* 1 minute eligibility determination;
* Rates as low as 4.5%;
* Fixed rate prevents future increases;
* Payments reduced or postponed;
* Free Government program - no fees or costs

source

What is consolidation?
•One or multiple federal loans are combined into one new consolidation loan•A simple way to manage debt•One lender•One payment•Changes interest rate from variable to fixed

Direct Lending
•Pros and Cons•Consolidating with Direct Loan Servicer•PROS•Loans won’t be sold•Department of Education is the lender•More generous income contingent repayment options•Can consolidate while in school without losing grace period•CONS•Cannot take advantage of some FFELP repayment incentives

What are the Benefits of Direct Loan Consolidation?•Combine pre-HMS federal loans with current federal loans to simplify repayment while retaining interest subsidy benefits•Gain access to new flexible payment options for Perkins loans and FFELP Stafford loans•May gain access to extended repayment period or lower monthly payments•Ability to “renew”deferment eligibility

What next?•Know your federal loan portfolio…go to NSLDS site http://www.nslds.ed.gov/•Utilize the calculators at www.ed.gov/offices/OSFAP/DirectLoan/index.html•Determine which consolidation program is best for you•Decide if, what and when to consolidate

Q & A Please, Oh! Please don’t ask me any hard questions?