Please provide two separate references for your loan consoildation.. Your references must meet the following requirements:
Your payment will remain the same throughout the life of the loan. The maximum term is set by the Federal Government yet you may choose to pay the loan as fast as you wish. There is NO Pre-Payment Penalty and Remember after meeting the qualifications for the interest rate reduction program, and continue to make on time payments, you will shorten the term as well, pay the loan off sooner, so your last payment may be slightly smaller.
You may feel that initially you would prefer a smaller monthly payment, then after your career grows and your income follows, you will be comfortable with a higher monthly payment.The graduated plan allows for a smaller, mostly interest payment, then gradually increases over the course of the loan, to include more principal. Although your initial monthly payments are reduced, the aggregated interest repaid over the life of your loan and your later monthly payments will increase. This plan will not extend your repayment term. Minimum loan amounts and other eligibility restrictions may apply.
If your balance is between $30,000.00 and $39,999.00 you may request an additional 60 months.The table below may help you decide which plan is best for you.
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