Grad Team wants to help make your student loan payments easier and more affordable. There's no 5-page monster bank application with hidden fees here. Only Grad Team offers a quick, one-page online form to fill out, and we handle the details for you free of charge. Why? Because Grad Team members told us to, that's why.

• Lock in a FIXED rate as low as 5.125%, with the lowest possible monthly payment.
• Only Grad Team offers the Double-Debit-Discount(sm), which includes a full .5% discount for auto debit checking payments on loans $20,000 or more.
• No application fees or charges, no credit checks or co-signers required.
• Flexible repayment options, forbearance and deferment, and no prepayment penalties so you can get out of debt faster.
• Plus, get a full 1.00% rate reduction with on-time payments after 36 months, for loans of $20,000 or more.

What is the Federal Student Loan Consolidation program?
The Federal Consolidation Loan is a fixed rate, Federal government-guaranteed, no collateral loan. The interest rate is the weighted average of your loans being consolidated rounded up to the nearest 1/8th percent. The rate is capped at 8.25%. It is ideal for borrowers wanting to make their student loan payments easier and more affordable. Under the provisions of the Higher Education Act, borrowers may be eligible to lock in one of the lowest rates in the history of the Federal Consolidation Loan Program.

Is there a limit to the number of loans I can consolidate?
No, as long as the loans meet the eligibility requirements (see loan eligibility page).

What is the grace period interest rate discount? The day federal student loans enter repayment, the interest rate on your Federal student loan typically increases by 0.60% . However, when you apply for your Federal Consolidation Loan at least 20 days before the end of your grace period, your new consolidation loan will incorporate the discounted "in-grace" interest rate. Your application must be received prior to the first grace end date on the loans being consolidated. To enable you to take full advantage of your grace period benefits and still receive the lower grace rate, we will then process your application so that funding of your loan will occur near the end of your grace period.

What are the eligibility requirements? To be eligible for a consolidation loan with us, you must be in your loan grace period or in repayment at the time the consolidation loan is funded, you must have at least $10,000 in eligible outstanding loans and you must not be currently in default on a Federal student loan.

What is my interest rate?
The interest rate on your loan is set according to Federal law. It is determined by taking the weighted average interest rate of the loans selected for consolidation and rounding up to the nearest 0.125% (1/8%) or 8.25%, whichever rate is less. Your interest rate will not exceed 8.25% and it is fixed for the entire repayment term.

Customize Your Repayment Plan to Suit Your Needs
Part of the reason why so many people have consolidated their education loans through us is because we offer a variety of repayment plans and terms. These plans have been created with your unique needs in mind and are designed to make it as easy as possible for you to manage your money your way.

Lower Your Monthly Payment with These Repayment Terms
The maximum repayment term for a Federal Consolidation Loan is 30 years. The length of your Federal Consolidation Loan repayment term will be determined by your total education debt, including:

Outstanding education loans not eligible for consolidation must have been made exclusively to finance post secondary education by an entity such as a bank, school, or state agency under a public or private loan program. Personal loans from family or friends or loans in default may not be listed. The amount of the loans that are not included in your Federal Consolidation Loan but are used to determine your repayment period will not exceed the amount of loans consolidated.

Note: By default, your consolidation loan repayment term will be set to the maximum loan repayment term. You may, however, request a repayment term that is shorter than the maximum period allowed based on your total education debt. Lengthening the term of your loan will significantly reduce your monthly payment. You should no te that your extended repayment term will increase the total amount of interest you pay on your loan. However, because there are no prepayment penalties, you can reduce your interest cost by increasing the amount you pay each month or by paying off your loan early — without a penalty or fee. If you have any questions about repayment terms, please contact one of our Loan Consultants at the toll-free number provided above.

Available repayment terms:

A new borrower on or after October 7, 1998, with an outstanding balance of principal and interest in FFELP loans may repay over a 25-year period on a level or graduated payment plan if they have FFELP loans totalling in excess of $30,000. (See Repayment Options below for details.)

Level Repayment Plan
This plan may be best suited for you if your goal is to take charge of repayment through streamlined single-billing convenience and a fixed interest rate.

Two-year Graduated Repayment Plan
This plan is best for those whose current earnings are low but are expected to increase in the near term.

Four-year Graduated Repayment Plan
This plan is best for those whose current earnings are low but expected to go up in a few years.

Allows you to make interest only monthly payments during the first four years of repayment. Principal and interest monthly payments begin in year five of repayment.

Income-sensitive Repayment Plan
IMPORTANT: This repayment plan is available only after required documentation is sent to your new loan servicer. For more information, please contact one of our Loan Consultants toll-free at 1.800.GradTeam.

With this plan, your payments are based upon your income and are adjusted annually. This plan may be suited for you if you are experiencing extreme financial problems and may be in danger of defaulting on your loans.

Note: It is the borrower's responsibility to provide adequate documentation of their income. Information provided should be sufficient for the lender to make a determination as to what the monthly loan payment amount will be.

Extended Repayment Term
This option is only available to you if you have $30,000 or more in student loan or PLUS loan debt and you first took out loans on or after October 7, 1998. This plan allows you to extend the repayment term of your loan to 25 years, and allows you to pay both principal and interest payments, but those payments will be smaller because the loan term is longer. Although this option will incur more interest over the life of the loan, it allows you to make smaller payments. If you have educational debt in excess of $60,000 and wish to repay over a 30-year term, you should select one of the other repayment options.

How long will it take for my loans to be consolidated?
It takes 30-60 days for us to receive payoff information from your lenders, review your application for completeness and disburse your new consolidation loan. You'll receive a new Loan Consolidation Disclosure Statement and Repayment Schedule from your new loan servicer once your consolidation loan is complete.

What if I don't know who currently holds my loans?
You can find lender names and addresses for each of your loans in your repayment information, you can go to nslds.ed.gov, or simply call us and we can help access all your student loans.

Should I continue payment on the student loans that I am consolidating while my federal consolidation application is processing?
Yes. The processing of your new loan takes approximately four weeks. You should continue to make all of your regular scheduled payments on the loans that you have selected to consolidate until you receive your new Loan Consolidation Disclosure Statement and Repayment Schedule from your new servicer. If you fail to make payments, your loans may be treated as delinquent or in default, resulting in possible money penalties.