Consolidate with ACS
Find Your Financial Savings
Affiliated Computer Services (ACS) is a student loan servicer with a competitive array of borrower services. Besides federal student loan management tools, borrowers may also explore their options for the ACS Federal Consolidation Loan.
Consider First:
Factors to consider before you choose to consolidate your federal student loans:
- How many federal loans do you have?
- What are the interest rates?
- What is your total monthly payout in student loans?
- Do you have other high dollar financial responsibilities?
- Are you in grace period or repayment?
- How many payments remain?
- How many lenders do you have?
You could continue on with a list of pros and cons, but these are the basic questions to ask yourself. Consolidation is not to be taken lightly. Yes, you will pay less each month, but in the end—a possible 30 years—you will pay exponentially more for your college education than if you had been able to swing the standard student loan repayment schedule.
Consolidate Your Federal Loans with ACS
The ACS Federal Consolidation Loan provides borrowers with more manageable monthly payments all packaged into one payment versus multiple. As a Federal Family Education Loan Program (FFELP) lender, the loan is subject to certain non-negotiable terms already set by the federal government:
- Interest rate is fixed. The rate is calculated by taking the weighted average of your federal loans as of the date you apply for consolidation. This figure is rounded up to the next 1/8 th percent and the rate will not go over 8.25.
- There are no fees.
- Borrowers will not be subject to a credit check.
- Since July 1, 2006, students still in school may no longer apply for consolidation. Federal consolidation loans may only be applied for during the initial grace period or while in repayment.
ACS federal consolidation loan borrowers will find a sample interest rate grid that compares interest rates across the various repayment terms: standard, income sensitive and graduated. Borrow up to $10,000 and your repayment period is ten years; borrow in excess of $60,000 and your repayment period is 30 years. The online loan consolidation calculator provides close estimates for the new fixed rate loans. Borrowers may download an application.
