How Graduate Student Loan Consolidation Works

When you consolidate your graduate school loans, you are simply combining all your existing loans into one new loan.  The repayment period on your new loan is lengthened and two things happen: Your monthly payment is cut almost in half and your total repayment amount increases. Because there are no penalties for extra or overpayment, you can pay back more when it becomes affordable.

Graduate student loan consolidation is a great way to help your monthly budget, allow yourself a few years to get on your feet and get established in your career.

How to Apply

The first step in the consolidation process is to apply for a consolidation online or call toll-free at 1-877-328-1565. When you apply, you'll have the choice of receiving an application packet and information via eSignature or via the postal mail.

Complete Your Application

Our secure eSignature tool allows you to input all your contact and graduate loan information online and eSign your application all in the same step.

That's It for You

The remaining process is up to us. We will stay in contact in case any additional information is needed and to provide updates as we finalize your consolidation.

Start Your Application Online Today

Quality Check

We make sure that your application is filled out with everything that the government requires in order to process your consolidation. Graduate student loan consolidation requires compliance with the Higher Education Act, so we make sure that you've included everything we need to help you achieve lower monthly payments.

Payoff Statements

After your application has been checked for accuracy, we request payoff statements (called loan verification certificates, or LVCs, in the student loan industry) from your existing loan holders. These statements tell us exactly how much you owe. Some payoff statements take up to 60 days to get back; that's why it's so important that you get your application to us as soon as possible, so we can get this part of the process moving. If you are currently making payments, continue making payments on your existing loans until you receive your new payment information from us.

New loan

Once we know how much you owe, we will open a new consolidation loan in your name for the exact dollar amount you currently owe.

Payoff

We take the loan proceeds from your new graduate loan consolidation and pay off each of your existing loan holders. Your existing loans are paid in full. This is why consolidation is a smart idea for your credit rating - it shows that you have successfully paid off all your existing student loans, which reduces the number of loans you owe and shows you've successfully paid off a series of debts, both of which increase your credit score.

Documentation

After the payoff process is completed, we will mail you repayment and consolidation loan information.

Start Your Application Online Today