Student Loan Consolidation

Consolidate Your Student Loans With Nelnet!

Consolidate your Federal student loans with Nelnet and get a low monthly payment with a fixed interest rate. Consolidating with Nelnet allows you to reduce your monthly student loan payment; and, with Nelnet's borrower benefits, you could reduce your interest rate and save thousands of dollars in interest over the life of your Federal Consolidation Loan.

What are the benefits to using a Nelnet Consolidation Loan to Lower Your Student Loan Interest Rates?Federal low-interest student consolidation loans still give you an excellent way to manage your student loan debt. By consolidating your student loan debt today you can get a lower monthly payment and a fixed interest rate. In addition to the ability to better manage your student loan repayment, the Nelnet Consolidation Loan offers you many other benefits.
Benefits of Nelnet Consolidation LoansYou relied on low-interest rate student loans to complete your education. Now, you may be faced with significant student loan debt and you should explore the many options afforded you as a borrower to repay your loans. When evaluating a low-interest student loan consolidation, you should consider the following features:

A fixed interest rate
Flexible repayment schedules
One lender, one payment
No fees or credit checks
Additional borrower benefits
Tax-deductible interest

Fixed interest ratesThe consolidation interest rate is fixed and is calculated by taking a weighted average of the rate on the federal loans you are consolidating, rounded up to the nearest one-eighth percent, not to exceed 8.25%

Stafford loans disbursed between July 1, 1998 and June 30, 2006 have a variable interest rate that resets every July. See below for current interest rates:
Stafford loans in grace or deferment - 6.54%

Stafford loans in repayment, including forbearance - 7.14%
Stafford loans disbursed on or after July 1, 2006 have a fixed interest rate of 6.8%

If you have questions about calculating your consolidation interest rate, please contact a Nelnet Loan Advisor. They will research your loan history and estimate your consolidation interest rate for you.
Lower monthly paymentsWhen consolidating your student loans, you can reduce your monthly payments by locking in a low fixed interest rate and extending your repayment terms. Extending your repayment terms helps reduce your monthly payment, but you need to be aware that the amount of interest you pay over the life of your loan may increase as well.
In addition, the Nelnet Consolidation Loan offers several borrower incentive programs that can reduce your payments even more!

You can enjoy:
Choose from one of two borrower benefits: When you complete and e-sign your application online, you may choose either a one-time 3.33% principal balance reduction after 30 initial, on-time payments or a 1% interest rate reduction after 36 initial on-time payments. If you submit your application through the mail, you will qualify for a one-time 3.33% principal balance reduction after 30 initial on-time payments. Please note: Submitting your application online using our e-signature process will expedite the processing of your loan.
A 0.25% interest rate reduction for auto-electronic payments (KwikPaySM)
The Nelnet Private Consolidation LoanLike the Federal Student Consolidation Loan, there are many benefits to be realized when you refinance your private student loan payment (s) and consolidate it into a Nelnet Private Consolidation Loan.Interest rates as low as the current Prime Lending Rate.
No origination fees, no early repayment penalties – Making a smart financial decision has never been easier. You simplify the way you repay your private student loans, and even extend the terms of those loans to ensure you monthly payment does not leave you scrambling for cash each month.
Lower cost solution than other forms of financing– a Private Loan Consolidation from Nelnet may just be the most economical type of financing you can employ to pay back your private student loan debt. Our Loan Advisors can help you determine approximately what your monthly savings might be, and assist you in determining if a Nelnet Private Consolidation Loan is the best choice for you.

Competitive rates – Nelnet, a leader in the Education Loan business can offer you competitive interest rates that when combined with extended terms, can significantly reduce your monthly private student loan payments. Since extending your term can increase the interest you pay over the life of your loan, Nelnet also offers the benefit of letting you decide how quickly you want to pay off your education debt. There is no penalty for early repayment. Plus, if you provide a co-borrower to your Nelnet Private Loan application, there is an excellent chance your interest rate can even improve over the rate you would qualify for alone.
Loans available from $5000 –

Nelnet recognizes that your education may be one of your most important investments, and one of your most costly. Our Private Consolidation Loan Program gives you the ability to combine most if not all of your loans into one easy payment.
Interest rate reduction of .5% after 48 initial on-time payments – When you have completed 48 initial on-time payments, Nelnet rewards you with a further reduction in your interest rate. The money you save can be used toward paying back your loan sooner.
.25% interest rate reduction whey borrowers sign up for KwikPay – If you elect to make your monthly private consolidation loan payments electronically, you can save more money.
Apply over the phone, or online – When submitting applications for both FFELP and Private consolidation loans, the process is easy and you can do it all online, 24 hours a day 7 days a week.