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How to Thoroughly Research Your Consolidation Options

Because federal consolidation is offered by the government, all lenders are required to offer the same consolidation rates and repayment options. What, then, differentiates between different lending companies? The benefits and services. This article provides a guideline for choosing the right lender to consolidate your student loans.

How to Thoroughly Research Your Consolidation Options

While student loan consolidation is a no-brainer, choosing a lender to consolidate with does require some research and investigation. Because federal consolidation is mandated by the government, all lenders are required to offer the same consolidation rates and repayment options as those set by the federal government. However, the difference lies in the benefits and service offered by the lender and the lender�s track record. Below you will find some helpful guidelines for choosing a lender to consolidate your student loans.

Things to think about when choosing a lender to consolidate your federal student loans:

Does this lender work with students and graduates of a similar background and with similar loan balances to yours?
Call the lender. Does the lender's representative take time to thoroughly address your concerns about your loans?
Does the lender offer student-loan information or other financial-counseling services free?
Ask around. See what other people�s experiences are with their lenders.
What borrower benefits is the lender offering? *
What are the repayments options offered by the lender? Are they more flexible than other lenders�?
Make sure everything a lender offers is in writing.
As this will be a long-term relationship, be sure its customer service will meet your needs. Does the lender offer easy online access to your account and helpful tools?
How responsive is the lender?
Can the lender�s representatives thoroughly answer your questions? Does the representative seem to know the industry inside and out?

Remember, there are some federal regulations that determine for you with whom you can consolidate. For instance, if all your loans are held by a single FFELP lender, then you must consolidate with that lender or the Department of Education. But if you do have the freedom to choose--meaning you have more than one FFELP lender or a mixture of FFELP loans and Department of Education or Perkins loans--then research thoroughly before you commit. The lender you choose will be with you for years to come. Make sure you find one that you feel most comfortable with.

* Due to federal legislative changes to the FFEL Program, as of October 1, 2007, Law School Loans will no longer offer borrower benefits on federal consolidation loans. Any information contained herein regarding "borrower benefits" may no longer apply. For more information, contact us at 800-659-8344.

	Article Title : How to Thoroughly Research Your Consolidation Options
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	If you are still in-school, you may reserve your consolidation for graduation with Law School Loans. By signing and returning your application now, you will be guaranteed the current low rates on your consolidation, and you will not have to think about your consolidation again until you enter repayment.

Our borrower-benefits package is designed to help you save by reducing your interest rate by 1.25%. Using auto-debit to make your monthly payments will ensure you make on-time payments and thus help you toward the goal of 36 on-time payments, guaranteeing you thousands of dollars in savings.