Closed school discharge Georgia

Federal Student Loan Consolidation


Consolidating your federal education loans can greatly simplify loan repayment. A Direct consolidation loan merges all of your loans to one bill and can cutback monthly payments by providing you a maximum 30 years to pay off your loans. Literally, you have just one monthly payment to make rather than multiple payments.
The loans that can be consolidated include Direct Subsidized and Unsubsidized Loans, Subsidized and Unsubsidized Stafford Loans, Direct Plus Loans, Federal Perkins Loans, and Federal Nursing Loans. Bear in mind, Private Education loans are not qualified for consolidation.
Exceptions to Consolidation

How You Benefit

Supposing that you are in default, you should comply with, certain prerequisites before you can consolidate your loans.

A Plus loan underwritten to the parent can't be relocated to the dependent student via consolidation.

Accordingly, a Grad applying for loan consolidation is not allowed to include the Plus loan their parent took out for the dependent student education.

What are the Requirements? To qualify:

You should have no less than one Direct Loan or FFEL Program Credit which is in a grace period or in repayment.

To consolidate loan gone into default, you should either make decent repayment arrangements with the servicer, and then consolidate, or you should consent to pay back your new Direct Consolidation Loan under the:

Income-Based Repayment Plan,

Pay As You Earn Repayment Plan, or

Income-Contingent Repayment Plan

What About Interest Rate?

A Direct Consolidation Loan has a fixed interest. Means it doesn't vary for the life of the loan. The rate is set by weighted average of the interest rates, on the loans which you want to consolidate, rounded up to the closest one-eighth of 1 percent. No CAP exists on a Direct Consolidation Loan.
Talk to our Federal Education Loan Consolidation experts and have, yourself evaluated. We can help you select a repayment plan that is fitted to your earnings.

Don’t let student loan debt hold you back!

Request a free consultation today