What is Loan Consolidation?

Student and parent borrowers can consolidate (combine) multiple federal student loans with various repayment schedules into one loan through a Direct Consolidation Loan (through the Department of Education).  The result is a single monthly payment instead of multiple monthly payments, which makes it easier for borrowers to manage their debt.

  • During your grace period.
  • Once you've entered repayment.
  • During any period of deferment or forbearance.