REFINANCING OPTIONS....

• STANDARD REPAYMENT PLANS, where you make monthly payment plans on a fixed interest rate over a period of ten (10) years to thiry (30) years, depending of the type of consolidation refinance program and lender you choose. 
• EXTENDED REPAYMENT PLANS, where your payments are less than payments under the Standard Repayment Plan, with repayment periods ranging from twelve (12) to thirty (30) years, depending on the total amount that you have borrowed.
• GRADUATED REPAYMENT PLAN, where your monthly payments increase every two (2) years.  Under this plan your repayment period varies from twelve (12) to thirty (30) years, depending on the total loan amount that is borrowed.
• INCOME CONTINGENT REPAYMENT PLAN, where your repayment plan is based on your annual income, family size, and total amount of loan debt.  Under this plan your payments are spread over twenty five (25) years.

Before you enter repayment, you will receive information about the four repayment plans listed above and will be asked to choose a plan that fits your needs the best to refinance student loans.

The four different repayment plans listed above are available to borrowers of both Direct Subsidized and Unsubsidized Consolidation Refinancing Loans. NOTE: Direct PLUS Student Loan borrowers may not choose the Income Contingent Repayment Plan.

Borrowers that consolidate more than one loan type (be them subsidized, unsubsidized, and PLUS loans), have only one Direct Consolidation Loan and will make only one payment each month. It is common for borrowers to choose only one repayment plan. However, borrowers who consolidate PLUS Loans (Parental Loans for Undergraduate Students) with other student loans may repay the PLUS portion of the consolidation loan under a different repayment plan. see: studentaid.ed.gov

The school loan refinancing lenders we have chosen to list offer to refinance school loans (both private loans and federal loans), refinancing student loans of every form. If you want to get the lowest interest rate and lower your payments then refinance at today's rates, before July 1. UPDATE: The Federal government will become profiteers by lending directly to students, though there are additional school loans out there for those who like to comparison shop for loans for school. School loan consolidators have been shut out of the student loan industry by Government changes a couple of years ago. Is this a trend? There are other helpful school loan consolidation websites to gain insight from as well.

Home Equity Loan Increase: A new trend in in finding money for college is parents and guardians using the their homes to cover tuition and college expenses by refinancing their home loans and by borrowing home equity loans. A home equity loan can sometimes secure lower interest rates than many private student loans, as is the case with home loan refinance. Find tools like this home equity loan calculator.

With the passage of the student loan bill, which was part of the health care reform bill, the Goverment will essentially have a monopoly on what was an industry, student loan providers.

NEXT, go to our Student Loan Consolidation PART 3 page.