The FFELP Consolidation Loan Program is always a great idea for college graduates. This free federal program was developed in order to ease the financial burden on students once they graduate school and go into repayment on their Federal Student Loans. Some of the advantages of the FFELP Consolidation Loan Program are: having one bill and one lender, locking in the lowest possible interest rate available to you, lowering your monthly payments, and resetting your Deferment and Forbearance time.

If the Student Loans that you have are Federal Stafford loans and they were disbursed to you before July 1st, 2006, than the interest rate on those loans will be Variable, which means they are subject to an interest rate change every July 1st, which is determined by the Federal Government. If you consolidate, you will lock in your rate for the rest of your loan repayment. You will also have lower monthly payments and be able to keep all your federal benefits.

For more information on current Federal Student Loan interest rates, as well as more detailed information on the FFELP Consolidation Loan Program, please visit the source below. Also, you can contact us on yahoo at studentaidlending.

Good luck, I hope this helps!

Good luck!!