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There are a number of student loan consolidation service providers in the US. They provide consolidation service to defaulted, federal and private student loans with assistance from providers of educational loan consolidation. Student Loan Consolidation service providers can be categorized into Federal student loan consolidation and Private student loan consolidation.
Federally funded loans are administered initially through the US Department of Education's Federal Student Aid programs, and are usually the easiest to get student loan consolidation services for.
These federal programs disburse about $60 billion a year in loans, work-study support and grants. Stafford loans are the most common form of federal loans for students, but there are a variety of other federal payment plans - among them military / ROTC plans to pay for college.
Private student loans are administered by standard lending institutions. Among the most common are Citibank student loans and the Sallie Mae Signature student loans and many more. These lenders are basically providing unsecured (or in some cases secured) loans to you as a student, and will most often charge higher interest rates than their federal counterparts.
Private and federal loans, along with scholarships, can be combined to fund your education. However, it's important that when it comes time to consolidate student loans, you do not mix the two types together. You should always consolidate your federal loans first, and then separately consolidate private student loan debt.
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