Federal consolidation loans allow borrowers to combine several federal student loans into one loan to streamline loan repayment.
The monthly payment amount may decrease because repayment can be spread over a longer time period.
(Don’t forget to review the full list of available education tax benefits, so you don’t miss out on any other tax credits and deductions.) Want to find out how much your monthly payment will be after you refinance?
Use our student loan consolidation calculator to find your monthly payment savings!
Your repayment term will generally start within 60 days of when your consolidation loan is first disbursed and will be based on your total federal student loan balance, among other factors; click on the link below for more details.
Most of the benefits in the Direct Loan Program are available in the FFEL Program.
Let's face it, life after graduation can get very expensive.
Living expenses like housing, car payments, and relocation costs can be overwhelming when student loan bills are added on top of your existing financial obligations.
If you borrowed before July of 2010, you may need to consolidate your loans in order to qualify for certain student loan repayment benefits, such as Public Service Loan Forgiveness and some income-driven repayment plans.
If you’re interested in the best student loan repayment benefits, you’ll want to have Direct Loans.