With a Federal Direct Consolidation Loan, which is made by the U. All, some, or just one federal student loan can be consolidated under this program. Ford Federal Direct Loan Program, it’s possible to combine one or more federal student loans into one new loan.You have to include at least one Direct Loan or Federal Family Education Loan (FFEL) program loan that is in a or a repayment period (including loans that are in a forbearance or deferment) in the consolidation to qualify for a Direct Consolidation Loan.(Other types of eligible federal student loans can be consolidated as well, so long as they’re combined with at least one Direct Loan or FFEL program loan.) Loans that are in an in-school status are not eligible to be included in a Direct Consolidation Loan Almost all federal student loans can be consolidated under the Direct Consolidation Loan program.Most federal student loans can be consolidatedhttps:// which is the Department of Education’s central database for student aid.You’ll need a Federal Student Aid (FSA) ID (a username and password) to access the system.
For example, consolidating certain federal student loans could cause the loss of certain benefits, such as reduced interest rates or repayment incentive programs that are available under the loans being consolidated.There is no fee to consolidate federal student loans into a Direct Consolidation Loan.After consolidation, you’ll only have to make one loan payment per month instead of multiple payments on your various federal student loans.To apply for a Direct Consolidation Loan, go online or submit a paper application.To consolidate under the Direct Consolidation Loan program, you must have at least one(the period of time after your graduate, leave school, or drop below half-time enrollment when you are not required to make payments on certain federal student loans) or in a repayment period (including loans that are in a forbearance or deferment period.)Federal Family Education Loan (FFEL) program: Under the FFEL program, private lenders gave loans to students that the federal government guaranteed. For example, Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans, and Direct Consolidation Loans are types of Direct Loans.Among others, Subsidized Federal Stafford Loans, Unsubsidized Federal Stafford Loans, Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans, Federal Supplemental Loans for Students (SLS), Federal Perkins Loans, and certain kinds of existing consolidation loans can be consolidated.Information about your federal student loans, including loan amounts, outstanding balances, loan statuses, and disbursements can be accessed through the National Student Loan Data System (https:// the Department of Education’s central database for student aid.There are some circumstances when an existing consolidation loan can be consolidated into a Direct Consolidation Loan.This is called “reconsolidation.”For example, an eligible federal student loan can be added to an already existing Direct Consolidation Loan within 180 days after the date the consolidation loan was made.(A Direct Consolidation Loan is “made” on the date the first loan being consolidated is paid off.) Also, you can get a new Direct Consolidation Loan to combine your existing Direct Consolidation Loan or Federal Consolidation Loan with an additional eligible federal student loan (or loans) that you got before or after the date of the existing consolidation loan.An existing Federal Consolidation Loan can be consolidated into a Direct Consolidation Loan (without adding an additional loan) under certain circumstances as well.