Topic: Student Loan Consolidation
What are the repayment options for consolidation loans?
In an effort to give student borrowers more flexibility in how they repay their loans, there are four types of payment plans to choose from. In all cases, it's a good idea to shop around and compare the different repayment… More »
Can I “re-consolidate” my current consolidation loans?
It depends on a couple of factors. The general rule is that you cannot re-consolidate most consolidation loans on their own. The one exception is for loans that were consolidated under the federal Direct Loan Consolidation program, which can be… More »
What types of student loans are included in an Income-Based Repayment plan?
Most federal student loans are included, such as:
Federal student loans through the Direct Student Loan Program
Stafford Student Loans
GradPLUS Student Loans
Federal consolidation loans that do not include Parent PLUS Loans
Perkins loans, if they have been consolidated… More »
When should I consolidate into more than one federal loan?
It may make sense to consolidate your loans into two separate consolidation loans. This situation arises occasionally when the method of calculating the interest rate on your consolidation loan gives more weight to loans that have rates higher than the… More »
Can I re-consolidate a federal consolidation loan?
The only way you can re-consolidate a federal consolidation loan is by adding a new (or otherwise not already consolidated) federal loan. Therefore, if you have already consolidated your loans once and now have a new loan that was not… More »
What types of student loans can be consolidated?
Just about any federal loan – whether from the former Federal Family Education Loan (FFEL) program or the Federal Direct Loan program – can be consolidated. Another common category of student loans is “private loans”- which come from private lenders… More »
Eligibility requirements for consolidating your student loans
There’s a good chance you are eligible for a federal consolidation loan. Requirements vary by each lender, so check with them for more information on their fine print. Here are some general guides for eligibility:
You have any of the… More »
When should I consolidate my student loans?
When you should consolidate your student loans is primarily based on your status as a student - whether you're still in school or have left your program or graduated. If you're in "repayment" mode, meaning you're all done with school… More »
