Loan Consolidation

Federal Loan Consolidation is a process that allows you to combine multiple federal education loans into one loan. Once the consolidation is complete, you will have a single monthly payment on the new Direct Consolidation Loan instead of multiple monthly payments on the loans you consolidated, and a smaller payment amount each month.

However, consolidation also means the loss of all interest-free periods as well as the loss of cancellation benefits. Also, a longer repayment period means you will pay more interest over the life of the loan.

Federal Consolidation Loan information is available on If you have questions about consolidating your federal education loans before you apply, you can also call the Loan Consolidation Information Call Center at 800-557-7392.