Consolidation is refinancing all of your federal student loans into one loan through a private lender. This new loan will have a new interest rate, payment terms and monthly payments. The following federal student loans are eligible for consolidation: Federal Stafford loans, Federal Direct loans, Federal PLUS loans, Federal SLS loans and Federal Perkins loans.  Please note Consolidation will increase your interest rate.

The payment terms of a consolidation loan can make repayment of your student loans much easier financially and much less confusing since you will not have to keep up with several different lenders. However, some of the benefits available in the original student loan may be lost after consolidation. Discuss your options thoroughly with your lender.

 
Some Loan Consolidation contacts:

• Citibank Student Loan Corporation                              (800)692-8200
• Sallie Mae Education Loan Center                                (800)524-9100
• USA Funds Loan Consolidation Program                       (800)448-3533
• US Department of Ed. Direct Consolidation Loans        (800)848-0982