Most federal loans are eligible for consolidation, and borrowers can generally start the process after they graduate or leave school or drop below half-time enrollment.
Student loans are a form of financial aid designed to help students afford a college education.
Once your loans are consolidated into one payment, you retain the fixed interest rate for the life of your loan.
In order to be eligible for consolidation, you must have one Direct Loan or Federal Family Education Loan (FFEL) in repayment or in a grace period. Borrowers can consolidate defaulted loans, but they must make arrangements with their loan servicer or repay the Direct Consolidation Loan with an income-driven plan.
We have also included some other terms you may run into so you can be fully prepared when going out to get your loan.You will still need to meet all other eligibility requirements.* Variable Rate: Interest rate of in interest during the 5 year repayment term. For further information on rates and costs for the Variable Rate Student Loan Refinance, see the Application Truth in Lending Disclosure.You can consolidate up to ,000 in outstanding private or federal student loans.Choose a variable or fixed rate at a 5-, 10- or 15-year term.