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11-Nov-2017 13:49

Fannie Mae was chartered in 1934 as an FHA insured mortgage organization.It expanded into also including VA-backed mortgages after World War II.Consolidating your federal loans through the Department of Education is free; steer clear of companies that charge fees to consolidate them for you.When you consolidate federal loans, your new fixed interest rate will be the weighted average of your previous rates, rounded up to the next ⅛ of 1%.

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You’re generally eligible once you graduate, leave school or drop below half-time enrollment.

To find the best plan for you, check out Federal Student Aid’s repayment estimators before you begin the consolidation application.