STUDENT SUPPORT
GROUP
CALL US:
LOCAL (352) 729-6570
FAQ
Many of our clients aren't aware of the way the consolidation process works. Our customer service representatives have extensive knowledge of the Federal Student Loan Consolidation process and can answer any questions you may have. Below are a few of our most frequently asked questions.
Are you able to manage your monthly payments?
If your monthly payments aren’t manageable on top of other bills and the everyday cost of living, Student Support Group will work with you to apply for a Federal Student Loan Consolidation program that will fit your needs.
Are you overwhelmed with multiple loan payments every month?
If you want the convenience of paying a single payment each month, consolidation is the solution. Many people feel overcome with the stress involved with making multiple monthly payments. Consolidation eliminates that hassle and leaves you with one government lender and one monthly payment.
What is the interest rate on a consolidated loan?
A Direct Consolidation Loan has a fixed interest rate. This means the interest rate does not vary during the life of the loan. The fixed rate is a weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of 1%.
When can I consolidate my loans?
Normally, you are eligible to consolidate your loans after you (a) graduate, (b) leave school, or (c) drop below half-time enrollment.
What are my repayment plan options?
There are several repayment plans. We will go over each option with you to see what is best designed to meet your needs.
What types of loans can be consolidated?
Most federal student loans are eligible for consolidation. Private education loans are not eligible for consolidation. Examples of commonly consolidated loans include:
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Direct Subsidized Loans
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Direct Unsubsidized Loans
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Subsidized Federal Stafford Loans
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Unsubsidized Federal Stafford Loans
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Direct PLUS Loans
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PLUS loans from the Federal Family Education Loan (FFEL)
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ProgramSupplemental Loans for Students (SLS)
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Federal Perkins Loans
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Federal Nursing Loans
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Health Education Assistance Loans, and
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some existing consolidation loans
Can I consolidate a defaulted loan?
If any of your federal student loans are in default and/or you are being garnished by any lender, Student Support Group will provide you the option of rehabilitating said loans. Any account over 180 days delinquent is considered “defaulted” by the Department of Education. Once the rehabilitation process is completed, we will then immediately apply on your behalf for consolidation.
How do I apply?
Contact us! We will assign a representative to go over your information and agree on a consolidation program that tailors to your needs.