Federal Direct Consolidation Loans: U.S. Department of Education Federal Student Loan

Federal Direct Consolidation Loans

www.loanconsolidation.ed.gov
U.S. Department of Education
(Student Loan Consolidation: Government)

Federal Direct Consolidation Loans is a service provider of student consolidation loans by Federal Student Aid, an office of the U.S. Department of Education. The borrower’s current loans are repaid and a new consolidation loan is created, simplifying the repayment process for many past students, while making loan payments more affordable.

Contact Info
Contact Federal Direct Consolidation Loans
U.S. Department of Education on Twitter

Services
Student Loan Consolidation Loans, School Services, Loan Holder Services

Overview
The U.S. Department of Education’s Federal Student Aid office is the first option students and former students should look at when trying to consolidate their education loans. In accordance with the Higher Education Act (HEA), loan consolidation for education loans is provided under the Federal Family Educational Loan Program (FFEL) and the Direct Loan Program.

Borrowers utilizing one of these programs are eligible for simplifying their loan repayment by combining federal education loans, including those that may consist of different terms or repayment schedules, even loans that weren’t made by the same lender, into one loan with a low interest rate and affordable monthly payment.

In addition to a lower interest rate and more affordable monthly payment, the amount of time allotted for repayment may be extended beyond the terms provided in the original loan programs.

It is the goal of the Federal Student Aid office to help students and former students to better manage their debt and prevent borrowers from defaulting.

To learn more, visit the U.S. Department of Education online, where there are on-screen instructions for how to apply for a consolidated loan online. Follow the three steps that will help you to organize before applying, the application process, and then how to follow-up post-application.

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