Obinutuzumab and Lenalidomide in Treating Patients With Previously Untreated Stage II-IV Grade 1-3a Follicular Lymphoma

Inclusion Criteria: * A diagnosis of follicular lymphoma (grades 1, 2, or 3a), untreated * Able and willing to provide written informed consent and to comply with the study protocol * Bi-dimensionally measurable disease, with at least one mass lesion \>= 2 cm in longest diameter by computed tomography (CT), positron emission tomography (PET)/CT, and/or magnetic resonance imaging (MRI) * Must be in need of therapy as evidenced by at least one of the following criteria: * Bulky disease defined as: * A nodal or extranodal (except spleen) mass \> 7 cm in its greater diameter or, * At least 3 nodal or extranodal sites \>= 3 cm in diameter * Presence of at least one B symptom: * Fever (\> 38 C) not due to infectious etiology * Night sweats * Weight loss \> 10% in the past 6 months * Fatigue due to lymphoma * Splenomegaly (\> 13 cm) * Compression syndrome (ureteral, orbital, gastrointestinal) * Any of the following cytopenias due to lymphoma: * Hemoglobin =\< 10 g/dL * Platelets =\< 100 x 10\^9/L * Absolute neutrophil count (ANC) \< 1.5 x 10\^9/L * Pleural or peritoneal effusion * Lactate dehydrogenase (LDH) \> upper limit of normal (ULN) or beta-2 microglobulin \> ULN * Stage II, III, or IV disease * Eastern cooperative oncology group (ECOG) performance status =\< 2 * Absolute neutrophil count (ANC) \> 1.0 x 10\^9/L * Platelet count \> 75 x 10\^9/L * Serum aspartate transaminase (AST) or alanine transaminase (ALT) \< 3 x upper li…