Frequently Asked Questions (FAQ) – The Student Loan Pro
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Will my interest rate change?

No, interest rates are not lowered. When a consolidation is put in place, the new loan has a weighted average interest rate of the consolidated loans, in effect, there is no change.

When will I be required to start making payments?

Once the consolidation is approved and dispersed, payments will start approximately 60 days thereafter.

Can I consolidate my loans if I’m in default?

Yes! If you have not received notice of garnishment, consolidation is a fast and effective way to remove the default status on your loans. If you have received garnishment notice, or are being garnished, you also can consolidate once you have completed the rehabilitation process.

If I’ve already consolidated, can I consolidate again?

Yes, if you have added loans after the consolidation date.

What payment plans are available after consolidation?

This may be the largest benefit available in that there are many options to help manage your loans. Depending on the dates of your loans, and type of original loans, you’ll be able to choose from multiple options offer flexible, lower plans that also offer forgiveness.

Is consolidation available through the government?

Yes. You may review options here.

Where can I learn more about my options?

You can investigate further through the U.S. Department of Education, as well as reviewing our federal student loan consolidation page, or feel free to contact on of our company Pro’s that are available to assist with all details.