How Student Loan Consolidation Works

Congress established the Federal Consolidation Loan program as part of the Higher Education Act to help make the repayment of student loan debt easier. A Federal Consolidation Loan allows you to combine all of your variable interest rate loans into one loan with a low, fixed interest rate and flexible repayment options. There are no fees or credit checks to take advantage of our program. We simply contact each of your existing loan holders and verify your current loan balances and interest rates. Once your file has been processed, Class Advantage, LLC will transmit the information to our lender for funding, and within 15 business days you will receive your new repayment schedule from your new servicer.

Depending on the total amount of student loan debt, you can choose one of several repayment plans with loan terms up to 360 months. The interest rate on your Federal Consolidation Loan will be the weighted average of the current interest rates on your eligible student loans rounded up to the nearest 1/8%, or 8.25%, whichever is less. The interest rates on your Federally Guaranteed Student Loans are based on the Treasury Bill and are adjusted each year on July 1st. This means that currently you have the opportunity to lock in some of the lowest interest rates in the history of the student loan program. Lower them an additional 1.25% to 1.50% through our new Advantage Rewards incentive program.

Applying for a Federal Consolidation Loan is fast and easy. You can complete the application on-line or over the phone and we'll take care of the rest for you!

To apply over the phone call us toll free at 800-440-8664 and we'll send a completed application package to you. To complete the application on-line:

Fill in the information on our online application.

Print out the completed application, or we will print it and send it to you if a printer is not available.

Review and sign the completed application.

Mail your completed application to:
(Class Advantage) 6317 Heritage Drive, Carlsbad CA 92009