Loan Consolidation

While you are achieving your degree, you may take out numerous loans to help pay for school. When you graduate, you might want to consider consolidating your loans into a single loan with just one payment each month.

When you consolidate your loans at a lower fixed rate with an extended payment period, you can reduce your monthly student loan payments by up to 48%. For budgeting purposes, loan consolidation helps make managing your finances easier.

What Loans Are Eligible for Consolidation?

• Subsidized Federal Stafford Loans
• Unsubsidized Federal Stafford Loans
• Federal PLUS Loans*
• All Federal Direct Student Loans
• Federally Insured Student Loans (FISL)
• Federal Consolidation Loans (if you have an additional loan that is eligible for consolidation)
• Perkins Loans [formerly National Defense/Direct Student Loans (NDSL)].
• Federal Supplemental Loans for Students (SLS)
• Health Education Assistance Loans (HEAL)
• Federal Nursing Student Loans (NSL)

*Federal PLUS Loans taken out on a dependent's behalf can be consolidated with the existing eligible student loans of that parent. Federal PLUS Loans cannot be consolidated with the dependent's student loans.

Speak to your lender regarding loan consolidation as an option for repaying your student loans.

To learn more about loan consolidation, explore Direct Consolidation Loans.

For a list of consolidation loan lenders, visit College Lender List.