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Federal Direct Loan Consolidation
The Department of Education's Federal Direct Loan consolidation program offers a practical repayment option that allows you to bundle all of your federal direct loans into one single loan. Monthly savings from consolidation can be as much as half your previous student loan payments, providing payment relief after graduation, when you need it most.
Benefits of Federal Direct Loan Consolidation
In addition to significantly reducing your monthly payments, consolidation can lower your debt to income ratio and improve your credit score. Student loan consolidation allows you to stretch your repayment period from the standard 10 years to up to 30 years, depending on the total amount of your student loans.
The lower monthly payment means you'll have more money available to meet other living expenses, including car payments, housing expenses, and career-related necessities.
Free Non-Student Loan Debt Consultation
Do you have more debt outside of student loans? Request a free debt consultation today and learn how to trim down your payments! Get Started Now »
Who is Eligible for Federal Direct Student Loan Consolidation?
Anyone who took out federal loans (Direct or FFEL) while attending college may be eligible for federal direct student loan consolidation. Eligibility requirements include:
- Loans must not be in default
- Borrower must have graduated or be enrolled less than half-time
For information about consolidating your private student loans, see consolidating private student loans to learn more.
