Consolidate Us Phone Paper For Free

A Direct Consolidation Loan allows you to consolidate (combine) multiple federal student loans into one loan with a single monthly payment.

Direct Subsidized and Unsubsidized Loans can be consolidated when borrowers are in their grace period, or at any time in which the borrower is no longer enrolled full-time. Perkins Loans can be consolidated; however, the subsidy and some extended grace options will be lost.

You can consolidate federal student loans into one combined Direct Consolidation Loan. Loan consolidation is free. To apply and learn more: .

You can apply for a Direct Consolidation loan on-line at . Once you have completed the application, you should make a copy for your records and send the original to: U.S. Department of Education, Loan Consolidation Center, P.O. Box 242800, Louisville, KY 40224-2800.

You can't consolidate private student loans into a federal loan, and you can't consolidate private student loans and federal student loans together. Student loan refinance is when you change private loan lenders to typically get a better rate or more suitable terms.

PSLF consolidation is only a requirement if it makes your federal loans eligible for an income-driven repayment plan. This has been the case for federal family education loans and Perkins loans. So while you might not have to consolidate loans for PSLF, it could still be beneficial.

Only federal Direct Loans can be forgiven through PSLF. If you have other federal student loans such as Federal Family Education Loans (FFEL) or Perkins Loans you may be able to qualify for PSLF by consolidating into a new federal Direct Consolidation Loan.