Advantages to Government Student Loan Consolidation

>>>By consolidating your loans, you will likely have a lower monthly payment. The federal interest rate is likely to be lower than the combined interest of your original loans. When you consolidate, you also have the opportunity to pay the loans back over an extended period of time, which will result in lower monthly payments.
>>>Borrowers can choose from four different payment plans, including an extended payment plan that can extend up to 30 years, depending on the amount that is owed.
>>>If you consolidate your loans, you only have to make one convenient monthly payment.
>>>There's no fee for consolidating your government student loans.
>>>There's no credit check when you consolidate your government student loans.
>>>There's no penalty for paying the loan off early.
>>>The loan application process is much simpler than it is for other kinds of loans.