As a new graduate you must have a lot of great plans for the future, which all require some money, less or more. This is the phase of the life, when the expenses are on a maximum level, but incomes on a minimum level.

What you need is tools to save money!

If you are looking for an immediate monthly payment relief and the long term savings at the same time, the federal student loan consolidation is a great tool.

The method of the federal student loan consolidation is simple: you will combine all your federal student loans into one loan, which makes the loan management easier.

You can lengthen the usual repayment term from 10 years up to 30 years, which means a lot lower monthly payments. There is no penalties, if you will overpay, it is possible to make bigger payments and to cut the repayment term.

Consolidate Federal Student Loans

Note, that you can cut the interest rate by 0.6 % by doing the federal student loan consolidation during your grace period. There is no credit checks, fees or application fees!

The federal student loan consolidation can include Federal Stafford Loan Consolidation, Plus Loan Consolidation, Direct Loan Consolidation, Perkins Loans, HEAL Loans and all Federal FFELP and Direct Loans, which you have taken to pay for your education.

Note, that you will lose the federal loan benefits, if you try to consolidate the private loans with the federal loans!