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Federal loans may all be consolidated too, meaning that all your loans are lumped together and you only have to make one monthly payment when in repayment.However, federal loans do have a maximum amount which you can borrow while private loans have fewer such limitations.The foremost step is to fill out and submit the Free Application for Federal Student Aid (FAFSA).This application will score you on how much federal aid you are eligible for.Student loans are also not offered by this enterprise.Fannie Mae Student Loans Fannie Mae does not offer any kind of student loans.Loan consolidation basically means combining various loan payments into one single payment.
Both are completely unrelated because the former deals only with house mortgages and the latter only with student loans.
Apart from this the Fannie Mae financial aid program also offers the deferment and student loan forgiveness program, this proves helpful for students who need extended time to repay their student loans or have their parts of or the remaining balance of their student loan cancelled.
Fannie Mae student loans are undoubtedly one of the most popular student loans at the moment, since they are easy to apply for, offer lower rate of interest and a number of easy and convenient repayment options.
The deferred plan allows a student the luxury to make no payments while in college.
Students can choose from these three plans according to their personal circumstances and preferences.
This is a convenient method of managing multiple loan payments and interest rates.