Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is considered a federal consolidation loan?

April 26, 2017consolidation Federal loan

0

Posted

What is considered a federal consolidation loan?

1 Answer

0

10 Posted

A federal consolidation loan provides the borrower of federal educational loans the ability to combine all existing loans into one convenient payment. Consolidation loans are amortized up to a 30 year period determined by the total loan indebtedness. Borrowers can reduce their minimum monthly payment requirements up to as much as 65%.