Goal Financial, llc.

 

In the United States both the Federal Family Education Loan Program (FFELP) and the Federal Direct Student Loan Program (FDLP) include consolidation loans that allow students to consolidate Stafford Loans, PLUS Loans, and Federal Perkins Loans into one single debt. This results in reduced monthly repayments and a longer term for the loan. Unlike the other loans, consolidation loans have a fixed interest rate for the life of the loan.
 

Top consolidation lenders ranked by total FY 2006 consolidation loan originations
Lender name # of loans Amt of loans ($)
Federal Direct Student Loan Program 1,169,110 $19,197,268,873
Sallie Mae 866,295 $19,841,423,841
Citibank 232,126 $4,843,119,089
Nelnet 198,624 $4,796,065,812
NextStudent 89,284 $3,320,024,025
JP Morgan Chase 115,777 $2,668,451,098
Goal Financial, LLC 111,426 $2,494,856,673
College Loan Corporation 75,360 $2,245,128,826
AES/PHEAA 166,730 $2,037,618,548
Student Loan Xpress 114,790 $1,880,997,383
Wachovia Education Finance 80,174 $1,674,979,763

SOURCE: Stafford (FFEL & Direct) and PLUS (FFEL & Direct) Loans, from the National Student Loan Data System (NSLDS), US Department of Education, Fiscal Year 2006.


 

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