EduLC - Loan Consolidation

EduLC Consolidation Rate Discounts

Here at EduLC, we have created a unique lending model that allows us to provide you with a very valuable combination of great rates and great service. For the EduLC Consolidation loan we have developed one of the best incentive packages in the industry. Start an Application >

Consolidation Rate Discounts
Benefit	Amount	How This Benefit Works
Auto Payment	0.50%	Receive a 0.50% reduction in your interest rate for signing up for auto payment (debit) and making your payments automatically from your bank account.
24 consecutive, on-time payments*	1.00%	If you make your first 24 payments on time, you will be eligible to receive a 1.00% reduction of your interest rate for the remaining term of your loan.

*On-time payments are defined as being received no later than 14 days after the defined due date. Approved forbearances and deferments never disqualify you from obtaining your discount.

Important Rate Discount Information

All EduLC Consolidation customers are eligible for these rate discounts.
When you sign your application, you qualify to lock into today’s low rates, and you're instantly eligible to receive the .50% rate decrease. (A direct debit form is provided at loan closing and your rate discount will take effect upon successful activation with your bank.)
Once you have earned your 1.00% rate reduction for 24 consecutive, on-time payments, you will maintain the lower interest rate even if you make a late payment. Just work with us to bring the account up-to-date. ^†
Once you're eligible, your EduLC benefits and incentives are guaranteed even if your loans are sold or transferred to another lender.
Each time your rate is reduced with one of EduLC's discounts, the amount of interest you pay each month is reduced. As a result, you pay more towards the principal of your loan - which helps you pay off the loan sooner and save thousands in interest costs.

^† Borrowers who default (nine consecutive months without a payment) on their consolidation loan will lose the benefit of the lower interest rate.