Federal Consolidation Loans

Now that you or your child have graduated, you have the option of consolidating your eligible federal student loans into a single loan. Loan consolidation is not for everyone. You will pay more in interest over the life of your loans by consolidating. To learn more visit: Is Loan Consolidation right for you?

If you are having difficulty making your student loan payments and wish to lower your payments, you may also consider an extended repayment plan. If you do not qualify for an extended repayment plan, you should consider consolidating:

Interest Rate

Your interest rate will be the weighted average of all the interest rates on your underlying loans. You will lock in today's interest rate for the life of your loan. Interest rates on variable Stafford and PLUS loans are expected to decrease on July 1st, 2008.

Eligibility

• Your total student loan debt is at least $10,000
• You have at least one loan from AHELA to consolidate
• You are in repayment on the loans you would like to consolidate
• Your loans are not in default
• You have not consolidated your eligible student loans previously

Benefits

• Extend your repayment term to up to 30 years, which will lower your monthly student loan payments
• Make one payment each month to only one lender
• Take advantage of AHELA's generous consolidation borrower benefits, which are offered to Arizona residents or students who attended an Arizona school:
  • 0.25% interest rate reduction for automatic payments
  • 1.00% interest rate reduction after making 36 on-time payments
• Pay off your loan at any time with no prepayment penalty

To apply for a Consolidation loan click here.

If you are unable to complete your loan application electronically, you may download a paper application to complete and mail.

Have more questions? Find answers here: Is Loan Consolidation right for you?