PROS

• Simplified Repayment
  Combine your eligible federal loans into a single VSAC loan; make one loan payment each month. (Private loans are not eligible for federal loan consolidation.)*

• Lower Payment Amount
  Make repayment more manageable by significantly lowering your monthly payment amount.

• Fixed Interest Rate
  Convert to a fixed interest rate - no more worrying about whether your interest rate(s) will increase.

• Personalized Service
  Move all of your loans to VSAC for the stress relief of personalized service over the life of your loan.

Added Benefit:

• Annual Rebate
  Receive an annual interest rebate equivalent to .75% of the outstanding principal balance of your VSAC Consolidation loan if your application is received 7/01/05 through 6/30/08.**

CON

• Lose Annual Rebate
  You will no longer receive the 1.3% interest rebate that VSAC applies to your Stafford and Grad PLUS loan(s) each year during repayment. In addition, if you haven’t already received it, you will lose the one-time 4.3% interest rebate that VSAC applies to your Grad PLUS loan.*** Losing these rebates can impact the overall cost of your loan. Talk with a VSAC counselor to learn more.

LEARN MORE

• What is consolidation?
• Why choose VSAC?
• Am I eligible?
• Should I apply during my grace period?
• What will my repayment terms be?
• Other frequently asked questions

*You don’t need to have multiple federal loans to consolidate; borrowers with only one federal Stafford or PLUS loan are eligible to consolidate.

**Benefits described here are available to borrowers with Stafford or Grad PLUS loans taken out for study at an approved law or medical school.

***VSAC evaluates borrower benefits each academic year and reserves the right to modify, terminate, or discontinue them at any time, at its sole discretion. Loans 180 or more days past due are not eligible for these benefits.