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04-Feb-2020 10:44

The challenge is that each of those student loans come with unique terms and repayment schedules.

Simplify your life by consolidating your college student loans into a single payment; doing so may also allow you to reduce your monthly payment.

The fixed rate is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of one percent.

There is no cap on the interest rate of a Direct Consolidation Loan.

To ask questions after you have submitted your , contact the servicer for your new Direct Consolidation Loan. mail, your consolidation servicer’s contact information was available when you downloaded or printed the paper application.

If you submitted your application online, your consolidation servicer’s contact information was provided at the end of the online process.

To ask questions about consolidating your loans before you apply for a Direct Consolidation Loan, contact the Student Loan Support Center at 1-800-557-7394.Direct PLUS Loans received by parents to help pay for a dependent student’s education cannot be consolidated together with federal student loans that the student received.



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