A direct consolidation loan is a type of direct loan that combines two or more federal education loans into a single loan.
Direct consolidation loans are eligible for several different federal student debt forgiveness options, including IDR plans, PSLF, and Teacher Loan Forgiveness.
12/2019 Direct Consolidation Loan Application and Promissory Note William D. Ford Federal Direct Loan Program WARNING: Any person who knowingly makes a false statement or misrepresentation...
The Federal Direct Loan Program is a government program that provides low-interest loans with fixed interest rates to students. Learn how these loans work.
The best way to consolidate student loans is with a Direct Consolidation Loan. But you can also combine private loans by refinancing.
Note · There is no application fee to consolidate your federal education loans into a Direct Consolidation Loan. You may be contacted by private companies that offer to help you apply for a Direct Consolidation Loan, for a fee. These companies have no affiliation with the U.S. Department of Education (ED) or ED’s consolidation loan servicers. There’s no need to pay anyone for assistance in getting a Direct Consolidation Loan.
If you have one or more federal loans, you may consolidate them through the Federal Direct Consolidation Loan Program. There are advantages and disadvantages to loan consolidation, so consider your options carefully. Federal Student Aid provides information on the Direct Consolidation Loan and how to apply. The interest rate is the weighted average of the interest rates for all loans being consolidated, rounded to the next higher one-eighth of one percent. This rate will not exceed 8.25 percent....
Student Loans The federal government offers several consolidation options for people with student loans, including direct consolidation loans through the Federal Direct Loan Program. The...
Consolidation is not for every borrower, however, so here are some factors to consider before... the direct loan program before the limited waiver expired on Oct. 31, 2022. Although the...
Key Takeaways ; Discover, SoFi, and Upstart are some of our top choices for debt consolidation loan lenders. ; A debt consolidation loan merges your existing debts into one new, fixed-rate installment loan. ; Debt consolidation loans can help you manage your debt with a single monthly payment, lower interest rates, and a clear repayment timeline.