Consolidate Direct Loans
To apply for a Direct Loan Consolidation, the borrower must contact the Direct Loan Program and complete a Direct Loan Consolidation application. The Direct Loan Program provides borrowers with the ability to apply on-line or request an application over the telephone. Once an application is completed and submitted, the lender will request information from the borrowers, other student loan lenders, or from its own system to determine the amounts outstanding on the borrowers loans. The borrower will then receive notification about the consolidation loan, normal consumer disclosures, the amount owed, and if appropriate, where to make payments.
Consolidation loans have fixed interest rates that are based on the weighted average of the interest rates on the loans being consolidated. A lender can provide a borrower with a new consolidation loan with an interest rate that equals the lower of the weighted average of the interest rates on the loans being consolidated as of July 1 or the date the lender received the borrower's consolidation loan application. The lender should apply a consistent method of determining when an application is received.
To apply for a Direct Loan Consolidation, the borrower must contact the Direct Loan Program and complete a Direct Loan Consolidation application. The Direct Loan Program provides borrowers with the ability to apply on-line or request an application over the telephone. Once an application is completed and submitted, the lender will request information from the borrowers, other student loan lenders, or from its own system to determine the amounts outstanding on the borrowers loans. The borrower will then receive notification about the consolidation loan, normal consumer disclosures, the amount owed, and if appropriate, where to make payments.
Consolidation loans have fixed interest rates that are based on the weighted average of the interest rates on the loans being consolidated. A lender can provide a borrower with a new consolidation loan with an interest rate that equals the lower of the weighted average of the interest rates on the loans being consolidated as of July 1 or the date the lender received the borrower's consolidation loan application. The lender should apply a consistent method of determining when an application is received.
Most federal education loans are eligible for consolidation, including subsidized and unsubsidized Direct Stafford Loans, Federal Perkins Loans, Federal Nursing Loans, and Health Education Assistance Loans. PLUS Loan borrowers, which include the Parent Plus Loan and the Graduate Plus Loan, can also consolidate their loans through the Direct Loan Consolidation Program.
Many borrowers request a Direct Loan Consolidation, so they can have one low monthly payments instead of having multiple student loan payments.
Many borrowers request a Direct Loan Consolidation, so they can have one low monthly payments instead of having multiple student loan payments.
New federal laws and regulations have now allowed many students to consolidate both their Direct and FFEL student loans through the Direct Loan Program. Please consult your student loan lender to see if you qualify for a Direct Loan Consolidation.
Consolidate Direct Loans | Direct Loan Consolidation Requirements | Direct Loan Consolidation Interest Rate | Direct Loan Consolidation Repayment Plan | Direct Loan Consolidation Cost | Special Direct loan Consolidation |
Other Useful Financial Aid Sites: Direct Loan | Direct Loans Forbearance | Direct Loan Repayment | Direct Loan Forgiveness | Direct Loan Application | Federal Direct Loans | Stafford Loan | Direct Loan Application |
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Consolidate Direct Loans | Direct Loan Consolidation Requirements | Direct Loan Consolidation Interest Rate | Direct Loan Consolidation Repayment Plan | Direct Loan Consolidation Cost | Special Direct loan Consolidation |
Other Useful Financial Aid Sites: Direct Loan | Direct Loans Forbearance | Direct Loan Repayment | Direct Loan Forgiveness | Direct Loan Application | Federal Direct Loans | Stafford Loan | Direct Loan Application |
Privacy Policy