Consolidating student loans information

Students considering private loan consolidation should refer to our section on Using Private Lenders to Consolidate Student Loans.

Sallie Mae is devoted to helping students navigate the murky waters of college finance.

FSA ID stands for your Federal Student Aid Identification. You use your FSA ID to: Only you can create and use your FSA ID. Dishonest people could use your FSA ID to get into your account and take control of your personal information.

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Take control of your student loan repayment by refinancing with University of Iowa Community Credit Union!

You'll be able to refinance and consolidate your private and federal student loans (including PLUS loans) into one manageable loan, setting up one convenient payment, and potentially lowering your rate IMPORTANT NOTICE: By refinancing federal student loans, you may lose certain borrower benefits from your original loans.

Like all private lenders, Sallie Mae’s borrowing limits, interest rates and repayment plans are contingent on the borrower’s credit history.

For those students holding Federal loans which are being managed through Sallie Mae, borrowing limits and repayment schedules will be set by the government.

The repayment options discussed above have been put in place to address the needs of students wishing to lower their monthly payments, without the necessity for writing new consolidated loans.

Students may still choose to consolidate their outstanding loans through another financial institution, in which case their new repayment plan will be governed by their new private lender.

Work-study is a need-based grant that requires you to work part-time while you’re in school.

To qualify for work-study, you’ll need to fill out the FASFA form and meet the needs-based criteria of the program. Student loans fall into two categories: federal loans and private loans. It is the only way to apply for federal student aid. You must fill out your FAFSA form at every year that you are in college, university or career school.

There are several types of aid available to help you pay for your education beyond high school, including grants and scholarships, federal work-study jobs and student loans. A good way to apply for a grant is through your FAFSA form.

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