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Consolidating federal student loans department education

Plus, refinancing is only available through private lenders, so you lose the federal benefits associated with any federal loans you refinance.

Depending upon the total balance you are consolidating, you may extend the repayment period for up to 30 years with consolidation.

The extended period makes the monthly payment amount more manageable; however, the longer your loans are in repayment, the more interest you will pay over the life of the loan.

Learn more about the free services available to you.

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Are you tired of managing multiple federal student loan payments, with multiple interest rates or multiple servicers? The program may allow you to consolidate your federal loans into one, and select the consolidation servicer of your choice.

The Direct Consolidation Loan program is offered by the U. Department of Education to federal student loan borrowers.

By taking out a Direct Consolidation Loan, you can minimize the stress of your debt while retaining your federal loan benefits.

Often, Direct Consolidation is required in order to enroll in federal programs such as income-based repayment.

Learn more about Direct Consolidation Loans on the Federal Student Aid site Apply now at Student Private student loans are NOT eligible for consolidation into a Direct Consolidation Loan.

You may also add eligible loans to your existing Direct Consolidation Loan using the form below – if you are within 180 days of the date we paid off the first loans you are consolidating.

One way to consolidate your debt is to apply for a federal Direct Consolidation Loan.