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Graduate School Private Loan Consolidation with Graduate School Loans
Consolidating your private educational loans with Graduate School Loans means merging outstanding private education loans into one loan, including private loans used to cover residency expenses and/or other educational expenses. This is in addition to already consolidated private educational loans. Consolidating your private educational loans with Graduate School Loans allows you to significantly lower your monthly payment by lengthening the term of your loans, while receiving a low variable interest rate. This is possible even if your private graduate school loans are of different types or held by more than one lender.

Eligibility
You are eligible to consolidate your private education loans with Graduate School Loans if you meet the following criteria:

• Be at least eighteen years old at the time of application
• Have a minimum of $10,000 in US issued private educational loans
• Are in repayment status of private education loans at the time of application
• Have good credit standing
• Are a US citizen or permanent resident (eligible non US citizen)

Benefits
With Graduate School Loans, there are several benefits in consolidating your private educational loans.

• Graduate School Loans offers borrower benefits, such as an interest rate reduction of .25% when you sign up using auto-debit to repay your loan
• Simple repayment terms
• Low, variable interest rate
• No prepayment penalties
• Convenience of one low monthly payment to one lender versus the hassle of sending various bills monthly
• Graduate School Loans offers personalized and friendly customer service. With Graduate School Loans you work with one loan consultant throughout the process of consolidating your private educational loans.
• NEW!!! Now, when you apply for a Graduate School Loans Private Student Loan Consolidation, you'll get 30 days free access to a Crossing job-search website of your choice! That's a $29.95 value.

Process
The process of consolidating your private educational loans is made simple and fast with Graduate School Loans.

• Applicants receive an instant credit decision, origination fees, interest rate and borrower benefit information
• Receive a Master Promissory Note (MPN) via USPS. Just sign and return within 90 days, at which point you will be updated with your loan approval, repayment information and options.
• Sign up for auto-debit in order to receive an immediate interest rate reduction of .25%

Payment Options

• After consolidating your private educational loans with Graduate School Loans, you will start immediate repayment, generally beginning 20 days after finishing your application.
• The repayment term is a maximum 30 year plan, regardless of private consolidation balance. You may choose one of several repayment options for your private loan consolidation with Graduate School Loans, and there is NO penalty for early repayment
  
  
  • Equal Payments: Standard payments are made according to principal and interest over a 30 year term. This equal payment option allows equal monthly payments over the life of the loan
  • Select 2/Graduated Payments: Allows for interest-only payments for the first two year of repayment. Beginning the third year, payments increase to level installments of principal and interest payments for the remaining life of the loan.
  • Select 5/Graduated Payments: Allows for interest-only payment for the first two years of repayment. During the third through fifth year, payments increase to include a portion of principal. Beginning the sixth year, payments increase to level investments of principal and interest payments for the remaining life of the loan

Tax Benefits
Consolidate your private education loans with Graduate School Loans and take advantage of tax benefits

• By way of the Taxpayer Relief Act of 1997, the Government now permits individuals to deduct the interest paid on loans taken out to attend eligible educational institutions
• Ability to deduct up to $2,500 in student loan interest. Taken as an adjustment to income, allowing the deduction regardless if you itemize deductions on Schedule A of your 1040.
• Deductions phased out for taxpayers with adjusted gross incomes of $50,000 to $65,000 [single filers] and $100,000 to $130,000 [married filing jointly]. Taxpayers who are married but file separate returns are not eligible.

Deferment and Forbearance

• In-school, Military, Internship and Residency Forbearances are available to qualifying borrowers with Graduate School Loans.
• Deferment options do not exist at this time with Graduate School Loans.

Disclosures: CIT Bank, Salt Lake City, UT is the originating lender of the Graduate School Loans Private Consolidation Loan. CIT is a registered service mark of CIT Group Inc.


Apply for a Graduate School Loans Private Loan Consolidation in just a few easy steps.

Apply NOW online

Apply by Phone-Contact us at (800) 680-7195 for a quick pre-approval!

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