Student Loan Consolidation

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Student Loan Consolidation

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Student Loan Consolidations

Student Loan Consolidations- If you have multiple student loans you may be able to combine them. Perhaps into one loan with a fixed interest rate based on the average of the interest rates on the loans being consolidated.

A Direct Consolidation Loan allows you to consolidate multiple federal education loans into one loan at no cost to you, but you must apply.

If you complete a free Federal Direct Consolidation Loan Application and Promissory Note, you will confirm the loans that you want to consolidate. Then you will agree to repay the new Direct Consolidation Loan.

Once the consolidation is complete, you will have a single monthly payment. This is on the new Direct Consolidation Loan instead of multiple monthly payments on the loans you consolidated.

    Note: There is no application fee to complete a Direct Consolidation Loan application. You may be contacted by private companies that offer to help you consolidate your loans, for a fee. These companies have no affiliation with the U.S. Department of Education (ED) or ED’s Federal Loan Servicers.

How long will it take?

The entire Loan Consolidation process must be completed in a single session. Most people complete the process in less than 30 minutes.

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