Federal Student Loan Consolidation

A Federal Consolidation Loan through Ed Loan Funding allows students and parents the opportunity to refinance their existing federal education loan debt into one new low fixed interest rate loan. In addition to the low interest rate, when you consolidate through ELF you have the option of lowering your monthly payment by extending your repayment term without any prepayment penalty.

Why Consolidate Federal Student Loans?

One Monthly Payment

No longer will you be burdened with the hassle of having to pay multiple bills from different companies. Federal Student Loan Consolidation combines your billing so that you have one simple monthly payment.

Lower Monthly Payment

Student loan consolidation can significantly lower your monthly payment by extending your loan term and offering a variety of flexible repayment options. In many cases, consolidation can cut your payment in half! There are no prepayment penalties, which means you can make payments over the minimum monthly payment due, without penalty.

Low Fixed Interest Rate

Consolidating through Ed Loan Funding allows you to fix your interest rate, protecting you and your monthly payments from any future rate increases. Tip: If you have recently graduated or will be graduating soon, consolidating during your grace period may be your best option. The interest rates used to determine your fixed rate consolidation loan may be 0.6% lower during this period.

Postpone Your Monthly Payments

All federal student loans including federal consolidation loans offer reasonable repayment options including forbearance and deferment. You may be eligible for up to 36 months of deferment, and 36 months of forbearance.

No Credit Checks

There are no credit checks to consolidate student loans under the Federal Family Education Loan Program (FFELP).

Start The Application Process