 A loan designed to help borrowers consolidate all their private student loans to one bill, and enjoy lower monthly payments. Looking for a loan that helps you pay for your upcoming education expenses while paying off your old loans at the same time? The Edamerica Combination Loan provides you with the opportunity to do just that. Enjoy the convenience of one affordable monthly payment with one lender, and lower your monthly bills. View Frequently Asked Questions |
Start your
application here. Complete an application and know if you are pre-approved within minutes. 
|
|
The Facts |
||
|
Important Information About Procedures For Opening a New Account To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person that opens an account. What this means for you: when you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Who is it for? Anyone with outstanding private education-related expenses, who is also looking for a new education loan, is eligible to apply for an Edamerica Combination Loan. Borrowers for these types of loans are either U.S. citizens or permanent residents. |
How much can I borrow? Minimum: $10,000 Maximum: $250,000 How long do I have to repay the loan? Combination loans that exceed $40,000 have longer repayment periods—up to 25 years. For loans less than $40,000, the repayment period is 20 years. What's the interest rate? The interest rate for an Edamerica Private Combination Loan is the Prime Rate, adjusted as and when it changes, plus a margin depending on your credit history. Prime Rate (as of Apr 2008): 5.25% |
Who is eligible for a Loan to Learn Private Consolidation Loan? Anyone with outstanding private education-related expenses is eligible to apply for an Edamerica Private Consolidation Loan. Borrowers must be either U.S. citizens or permanent residents. What kind of debt can be consolidated? Edamerica Private Combination Loans can be used to consolidate all private education-related debt. Can I consolidate the loans for more than one student within the same family? Yes. Any two family members can consolidate their student loans together. For example, parents can consolidate the loans of one or more children and spouses can consolidate their individual loans into one Edamerica Private Combination Loan. |