Student Loan Consolidation Another member benefit

by Deanna Wooten, DCMS director of membership/member services

The Texas Medical Association and the Dallas County Medical Society are pleased to inform you of a relevant and valuable member benefit that could can save you thousands of dollars on your student loan interest payments. Members with student loans (including PLUS loans) may be able to lower their monthly loan payments and lock in the lowest interest rates in history by consolidating these loans with the Student Loan Consolidation Program.

This program is guaranteed by the US Department of Education and offers superior benefits and customer service compared with those offered by other loan consolidation providers. The benefits of consolidating through the Student Loan Consolidation Program for those who have more than $10,000 in outstanding eligible federal educational loans are significant and can include:

• Lock in a fixed interest rate for the life of the loan
• Further reduce the interest rate by up to 1.85 percent
• Lower monthly payments by as much as 54 percent
• Simplify repayments by making one monthly payment

Call 800-958-6084 to speak with a Texas Medical Association dedicated loan counselor, or go to www.texmed.org/slcp to take the 60-second eligibility test.

Interest rates on student loans are historically low, and if you are considering consolidation, now may be the best time. If you graduated recently, you potentially can lock in a rate as low as 2.225 percent, but you should call before you begin repayment to get the lowest rates possible. For more information and to fill out an application online, visit the TMA Student Loan Consolidation Program Web site at www.texmed.org/slcp.