Student Loan Consolidation FAQ released by the Consumer Advisory Council

Philadelphia, PA - A Direct Consolidation Loan allows students to combine one or more of their federal education loans into a new loan that offers several advantages. Students who have a Direct Loan or an FFEL in an in-school or grace period may benefit from a lower fixed interest rate on the new Direct Consolidation Loan.

With interest rates at their lowest level in 37 years, smart students with higher interest rates are reducing their monthly payments by consolidating their student loans through the Federal Direct Loan Consolidation program. The difference between the interest rate during an in-schooland/or grace period, and during a repayment period, can be as high as 0.6 percentage points.

As with any financial matter, there are many factors to consider before consolidating a student loan. The Direct Loan Consolidation program offers many options for both student and parent borrowers. The Consumer Advisory Council Student Loan Consolidation FAQ provides borrowers with detailed information for a better understanding of this important program.

The Direct Loan Consolidation program is cost free and provides borrowers with the ability to consolidate a broad range of student loans including health care professional loans. There are specific rules that apply to students, parent borrowers, and married couples.

The Student Loan Consolidation FAQ answers the most common questions, explains this important program with easy to understand examples, and helps borrowers understand who qualifies, how savings are calculated, and how to proceed.

This important FAQ is underwritten by the online Student Loan Consolidation program from Free Student Loan Services, a private student consolidation assistance company.

The Consumer Advisory Council is an independent consumer report and review organization dedicated to assisting consumers to make better buying decisions.

For more information:
http://www.consumeradvisorycouncil.org/
http://faqs.consumeradvisorycouncil.org/