Consolidating student loans into direct loan Nasty old man chat line

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Going back to our original situation, you could still combine your private student loans by refinancing, and you could consolidate your Federal student loans through the Direct Consolidation program.

That way, you could take advantage of the lower rates potentially offered through a private student loan refinance, while still maintaining your benefits on your Federal student loans.

We’ll walk you through some of the key considerations as you decide whether refinancing or consolidating is right for you (there are even situations where you might want to do a mix of both).

We can also help connect you with lenders who participate in refinance and consolidation programs that offer the terms and benefits you may be looking for, and get the process started for both federal and private student loans.

The Federal Direct Consolidation Loan program does not consolidate private loans into Federal loans.

According to Student Aid.gov, the following types of student loans are eligible for consolidation: • Direct Subsidized Loans • Direct Unsubsidized Loans • Subsidized Federal Stafford Loans • Unsubsidized Federal Stafford Loans • Direct PLUS Loans • PLUS Loans from the FFEL Program • Supplemental Loans for Students (SLS) • Federal Perkins Loans • Federal Nursing Loans • Health Education Assistance Loans • Some previous consolidation loans When you consolidate your Federal student loans, you will get a new loan through the Department of Education, which you can then setup a repayment plan that works for you.

The interest rate will also be fixed at the current Federal Direct loan rate.

However, several banks and services do allow you to combine your private and Federal loans into one payment.

Depending on your post-graduation experience, it may make a lot more sense to combine your loans together.

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