Sallie Mae offers both fixed-rate and variable-rate loans, which is comparable to the best student loan companies we reviewed.It is important to be aware that variable-rate loans can shift, but there is a cap on these rates.Direct consolidation loans are now the only type of federal student consolidation loan.Under the Direct Loan Consolidation Program, you can consolidate Subsidized and Unsubsidized Stafford Loans, Supplemental Loans for Students (SLSs), Federally Insured Student Loans (FISLs), PLUS Loans, Direct Loans, Perkins Loans, Health Education Assistance Loans (HEALs), and just about any other type of federal student loan.Your Other Loan Options There are several student loan options from which you may choose from.The first option you should explore is the federally administered student loans.It is quite common for people with student loans to deal with 10-12 lending institutions, which means 10-12 payments and 10-12 due dates each month.When you consolidate student loans – either federal or private – it’s one payment to one lender, once-a-month. Loan consolidation for student loans was created to make it easier for millions of borrowers to pay off their debt.
With just a few exceptions, you get only one chance to consolidate with the government loan programs.
If you are a current college student, whether in an undergraduate or graduate program, you can apply for a loan through Sallie Mae.
Unlike other private student loan companies, it does not set a cap on the amount of money you can borrow while in school.
Fannie Mae was chartered in 1934 as an FHA insured mortgage organization.
It expanded into also including VA-backed mortgages after World War II.
Using a consolidation loan, you can combine the loans into a singular loan amount, interest rate and payment.