A rebate is an amount paid by way of reduction, return, or refund on what has already been paid or contributed. It is a type of sales promotionmarketers use primarily as incentives or supplements to product sales.

Student loan consolidation rebates are usually given by a private company when student loans are consolidated equaling more than $20,000. The more student loans consolidation, the higher the student loan consolidation rebate.

All this rebate is offered on Stafford loans and plus loans. The most common discounts offered on student loan consolidation are:

1. 0.25% reduction in rate if your EMI gets debited from your account directly.
2. 1% waiver in default fee depending upon the guarantor for the loan.
3. Additional rebate on making timely payments.
4. 2% reduction in rate after completion of 48 months




If you decide to go with a company,that is offering cash rebate option, please read the fine print thoroughly. Many companies say to submit a rebate form by a deadline to give the cash back benefit. If they don't receive the cash back form by the date,they will allow the borrower to get that rebate.

The federal student loan consolidation program is an excellent way to manage student loan debt as well as save thousands of dollars in interest payments. By asking the right questions and knowing what to look for, you can maximize your savings and make sure that you get the best deal possible on your consolidation loan.

Student loan consolidation interest rates  

Posted by Talkingbees-Learn Bengali-Hindi-Online-USA-London in , , ,

Student loan consolidation interest rates:

For the best type of student loan consolidation interest rates, you can find them on the internet. 

All you have to do is contact the lending companies that are willing to give you affordable repayment plans. Always look for those companies or sites who take time to share great financial advice, especially on how to effectively handle and manage your multiple college loans.

Do a research for the lowest interest rate reductions. On the market there are two available reductions. The first one says that most lenders offer reductions for consecutive on-time payment. 



The interest rates for student loan are based on annual rate in United States. These rates can be anywhere between minimum of 4.70% to maximum of 8.25% for the Federal Stafford loans and 9% for the Plus loans.

Student loan consolidation rates are not that different than what a graduate is already paying. The new rate on a student loan consolidation is simply the weighted-average of someone's current loan rates, rounded up to the nearest one-eighth of a percent (.125%).

For example, if three-quarters of your loan is at 8% and one-quarter is at 6%, the new rate would be calculated as the follows:

8% x .75 = 6.00%  

plus 

6% x .25 = 1.50%

Total New Rate = 7.50%

But it  is advisable first to check and study the terms and conditions that are presented by the college debt and loan provider.


The William D. Ford Federal Direct Loan Program (FDLP) or "Direct Loans," is aUnited States Department of Education program that provides loans and helps students pay for education after high school. The Department of Education acts as a lender.Theyare providing funds for Stafford loans andPLUS loans in the same amounts as the Stafford and PLUS loans offered through the Federal Family Education Loan Program (FFELP).

Consolidation is a great tool for managing your finances - providing immediate payment relief and long term benefits.Federal student loan consolidation,a fixed-rate refinancing program combines all of your existing federal student loans into one new loan. With our fast and convenient eSignature, your application will be complete in just a few minutes.





The Federal Loan Consolidation Program was created in 1986. In 1998, the United States Congress changed the interest rate to the aforementioned fixed rate weighted mean, effective February 1, 1999. Consolidation loans taken out before that date had a variable interest rate, determined by the individual FDLP loan origination center (e.g., in the case of a university, that university) or FFELP lender (e.g., a third party bank)

Federal Student Loan Consolidation Payment Relief

One of the key benefits of consolidating your federal school loans is payment relief. By combining all of your student loans into one consolidated loan, you can lengthen your repayment term from the standard 10 years to up to 30 years, depending on the amount of your education debts. With a lower monthly payment, you'll have more money available to meet other living expenses, including car payments, housing expenses, and career-related necessities. Because there are no penalties for overpayment, you can make larger payments and reduce your repayment term when it becomes affordable. Learn more about how student loan consolidation works in this step-by-step tutorial.


Student Loan Consolidation - Becomes popular than before

  • Student loan consolidation has become so popular. Not long after that six month grace period mark passes, the postcards and "official" offers start showing up in the Graduate's inbox. Each offer promises a better rate than the last. It's so hard to tell the "shady" loan programs apart from the legitimate programs.

  • The best place to find a consolidator for your student loan is by calling whichever student loan organization you send your payments through. Sallie Mae and ACS are two of the most widely used student loan programs. They usually have several options ready and waiting for the Graduate to explore.

  • The banks,lenders offering student loan consolidation rates and through these larger programs are obviously legitimate.They will probably make the consolidation process much easier than outside loan programs would.

Internet Sources Of Student Loan Consolidation Deals

  • Another option when looking for student loan consolidation rates is the internet. There are a number of resources for students and graduates including information on student loan consolidation rates.

  • This website offers a review program for the best and worse consolidation programs. It talks about the various types of financial aid you may have accumulated and gives a great overview of Student related debt. 

  • Another site that goes into detail about options about student loan consolidation rates is a site called FinAid. It goes over the basic options available to recent college graduates and talks about the pros and cons of consolidation. It gives easy to understand information on interest rates and who is eligible for consolidation.

Student Loan Consolidation  

Posted by Talkingbees-Learn Bengali-Hindi-Online-USA-London in ,

Student Loan Consolidation - How does it Work?

Student loan is a great source for students who need to pay for their education. Often, students have to leave college with burdensome debt. In addition, they have multiple loans from different lenders, that means they are paying for more than one loan each month. Loan consolidation is the best solution .Student Loan Consolidation, also called a Student Consolidation Loan, is the combination of several student or parent loans ,and you can get that from a single lender.And then it is used to pay off the balances on the other loans.

In the United States both the Federal Family Education Loan Program (FFELP) and the Federal Direct Student Loan Program (FDLP) include consolidation loans and these allow students to consolidate Stafford Loans,PLUS Loans, and Federal Perkins Loans into one single debt. This reduces monthly repayments and a long term for the loan. Unlike the others, consolidation loans have a its fixed interest rate for the life of the loan.

Which Loans Can Be Consolidated With Student Loan Consolidation Loans?

Student loan consolidation programs have limits. They are only for educational loans, so you can't add your credit card bill to this!

You can consolidate any federal education loan with a student debt consolidation loan. There are more rules,when consolidating.Like you will need to have a certain amount of student loans built up.

An imortant point ,when consolidating your loans,companies can ask for higher fees. There are many places that offer great and resonable rates, and it doesn't cost you a single penny to apply. So stick with those lenders.

The best way is to research, when you find programs offering to consolidate your educational loans. A key point,you must check the terms and conditions and also look at minimum requirements and consider if you meet the minimum needs.