Consolidating your Olney student loan enables you to lock in low interest rates, bundle your high-interest federal student loans into one low monthly payment, and put more money into the bank. In addition, Olney education loan consolidation programs do not typically charge prepayment fines, origination fees or application fees. Generally, you can fill out a simple, online application to apply for a loan consolidation, making it a simple, affordable way to lower your student loan payments. Contact our associates now for more information on student loans and consolidation in Olney. A Federal Stafford loan is a government-secured student loan offered to graduate and undergraduate college students at rates much lower than other traditional loans. Unlike other Olney student loans, a Stafford loan does not require you to have flawless credit or supply collateral. If you stay in school at least half time, you will not need to make payments until after you graduate. With rising tuition costs and a sluggish economy, Stafford student loans in Olney are an ideal option for struggling college students. A Federal Stafford bank loan is available in two different types: subsidized and unsubsidized. In Olney, both types of loan applies to most college students, regardless of credit rating. Subsidized Stafford financial loans are for college students which are of low income or in need. Using this type of loan, the US government will pay the interest while you are still in university. Unsubsidized student loans are also available to college students in need. A lot of college students have multiple Illinois unsubsidized Stafford financial loans to manage their school expenses. If you are a student in Olney who has returned to school following a significant absence, you might be unclear about new regulations regarding financial aid and student loans. In the past few years, student loans have changed significantly and the qualification and application process is now very different than in years past. Do not be confused about student loans in Olney. Get your questions answered by contacting one of our helpful representatives right now. A lot of university students in Olney, IL are able to combine their student loans into one loan. A lot of Olney lenders encourage you to combine your loans to avoid wasting money. In the event that you are strapped for money, a student loan consolidation plan may be the solution to your problems. Student loan consolidation programs allow you to combine your entire outstanding student loans into one, low payment. Cut your montly payment by as much as 50 percent with student loan consolidation.