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At this time of year many are seeking ways to cut costs on student loans. You may have a number of programs your paying off simultaneously. Plus loans, Stafford financing, private loans, etc.

How do you go about consolidating and or refinancing to lower rates, reduce payments or make one easy payment as opposed to two, three or more?

Consolidation Options

The first question here is what type of loan do you have? Federal government direct loans allow for a Federal Direct Consolidation Loan program. This program enables you to lower your rate by .25% with the checking account debit requirement.

Sallie Mae Programs

Sallie Mae offers a consolidation program with the following options: One percentage point discount after 48 consecutive timely payments 0.25% discount for electronic payment.

Private Loan Options

Private loans that are not federally backed from Sallie or Nellie Mae and therefore cannot be consolidated with federal loans. But there are programs that allow you to roll all your loans into one account. Although the Federal and private loans are actually separate, you make one monthly payment that covers them all.

Another program, the H@LO Student Consolidation Loan can help you lower your monthly payments by up to 60% and lock in interest rates as low as 2.5%. See http://www.studentcollegeloan.com for more information on the H@LO program.

Benefits of the H@LO Student Consolidation Loan:

· Lower your monthly payment · Lock-in a lower interest rate, fixed for the life of the loan · It's free to consolidate · No credit check required · Maintain all the current benefits of your federal loans · Pay just one bill each month

If you're looking to refinance to lower rates, consolidate or both this may prove to be the ideal option for improved debt management.

About the Author

Mark Askew is editor for the Mortgage Loan Search Network at http://www.mortgageloansearch.cc and the Rate Watch Alert Newsletter. Offering consumers alternatives to business and personal finance.