Lower Your Monthly Payments by Consolidating Today!
You can save up to 52% monthly by locking in the Interest Rate of your Student Loans.
Additional Reasons to Consolidate Today!
- No fees, up front costs, or prepayment penalties
- No credit checks (actually improves your credit score!)
- Establish new repayment option that best fits your financial need
Simple Qualifications
- You are in your loan grace period or have entered into repayment
- Minimum student loan debt of $10,000
Eligibility Requirements for Consolidation?
- You must have more than $10,000 in outstanding loan debt.
- You must be 90 days current with your loans.
- In order to be eligible for an additional consolidation loan, you must have a separate eligible federal education loan that was not inclusive in the original consolidation loan, or that originated after you first consolidated your loans. The best example of this is if you have consolidated in the past and elected not to include your Perkins loan into your consolidation loan. You can take advantage of this by electing to consolidate your Perkins loan with your existing consolidation loan and take advantage of the benefits that Gulf Coast Financial Associates, LLC. offers via its consolidation loan program.
How to determine your interest rates?
The interest rate on a federal consolidation loan is fixed for the life of the loan. The interest rate is determined by applying the weighted average of the interest rates on all eligible loans and rounding those figures up to the nearest 1/8th of 1%.
Since all interest rates on federal loans are mandated by the government, use this chart along with our loan calculator to estimate the weighted interest rate on your federal consolidation loan.
|
| Date Disbursed |
Type |
In-School Rate |
Repayment Rate |
| 7/2006-6/2012 |
Stafford
PLUS |
6.80%
8.50% |
6.80%
8.50% |
| 7/1998-6/2006 |
Stafford
PLUS |
6.62%
8.02% |
7.22%
8.02% |
| 7/1995-6/1998 |
Stafford
PLUS |
7.42%
8.34% |
8.02%
8.34% |
| 7/1994-6/1995 |
Stafford
PLUS |
8.02%
8.34% |
8.02%
8.34% |
| 7/1992-6/1994 |
Stafford
PLUS |
8.02%
8.34% |
8.02%
8.34% |
How long is the process to consolidate?
The consolidation process takes approximately 4-6 weeks.
What types of loans are eligible to consolidate?
|
Loan Type |
Code |
Auxiliary Loans to Assist Students |
ALS |
Direct Parent Loans for Undergraduate Students (PLUS) |
DPLUS |
Direct Subsidized Stafford Loans |
DSS |
Direct Unsubsidized Stafford Loans |
DUS |
Federal Insured Student Loans |
FISL |
Federal Perkins Loans |
PERK |
Federal Parent Loans for Undergraduate Students (PLUS) |
PLUS |
Federal Subsidized Stafford Loans |
SS |
Federal Unsubsidized Stafford Loans |
US |
Guaranteed Student Loans |
GSL |
Health Professions Student Loans |
HPSL |
Loans for Disadvantaged Students |
LDS |
National Defense Student Loans |
NDSL |
Nursing Student Loans |
NSL |
Supplemental Loans for Students |
SLS |
Consolidation Loan (when another eligible loan type is present) |
CONS |
What repayment options are available?
Borrowers choose a payment option that best compliments their current financial situation:
- Level Repayment Plan
Your payments remain the same over the term of the loan.
- 2 Year Graduated Repayment Plan
You begin making interest-only payments during the first two years of repayment.
Consolidate your private/alternative educational student loans immediately reducing your monthly payments!
Simple Qualifications:
- Minimum $10,000 in eligible non-federal (private/alternative) loans
- U.S. citizen or permanent resident
If you are interested in consolidating your student loans with us, please call one of our Loan Specialists at 800-454-1718. If you have questions that we can answer for you, you can call us or send us a message. Interest Rate is determined by taking the weighted average of interest rates of all loans being consolidated, rounded up to the nearest 1/8%, not to exceed 8.25% |
