A Consolidation Loan allows you to combine your federal
student loans into a single loan with one monthly
payment, which can be significantly lower than the
payment required under the standard 10-year repayment
option.
Under the Federal Family Education Loan (FFEL) Program,
banks, secondary markets, credit unions, and other
lenders provide the Consolidation Loans. Under the
William D. Ford Federal Direct Loan (Direct Loan)
Program, the federal government provides the loans.
Most federal education loans are eligible for consolidation,
including subsidized and unsubsidized Direct and FFEL
Stafford Loans, SLS, Federal Perkins Loans, Federal
Nursing Loans, and Health Education Assistance Loans.
PLUS Loan borrowers (parent borrowers) also can consolidate
their loans. Private education loans are not eligible.
(Source: studentaid.ed.gov)
Consolidate College
Loans - Benefits and Disadvantages
Lower
your student loan payments with Student Loan Consolidation
