Public Service Debt Solutions Since 2003

Consolidate/Refinance/Restructure (student loans)

Consolidating and refinancing your student loans can simplify your payments. If you think your student loan payments are too high you call us to see if student loan consolidation makes sense for you.

Carefully consider whether student loan consolidation is the best option for you. Loan consolidation can greatly simplify loan repayment by centralizing your loans to one bill and can lower monthly payments by giving you up to 30 years to repay your loans. You might also have access to alternative repayment plans you would not have had before, and you’ll be able to switch your variable interest rate loans to a fixed interest rate.

However, if you increase the length of your repayment period, you'll also make more payments and pay more in interest. Compare your current monthly payments to what monthly payments would be if you consolidated your loans.

You also should consider the impact of losing any potential borrower benefits offered with the original loans. Borrower benefits from your original loan, which may include interest rate discounts, principal rebates, or some loan cancellation benefits, can significantly reduce the cost of repaying your loans. You might lose those benefits if you consolidate.

Once your loans are combined into a Direct Consolidation Loan, they cannot be removed. The loans that were consolidated are paid off and no longer exist. Take the time to study the pros and cons of consolidation before you submit your application.

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To find out more about this or any of the other alternative solutions, please complete this simple form. Or call toll free Monday thru Friday 12pm to 6pm EST at Toll Free (866) 560-8585.


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