FFEL Consolidation Loans

Who is eligible for a FFEL Consolidation Loan?
You can get a Direct Consolidation Loan during your grace period, once you have entered repayment, or during periods of deferment or forbearance. If you're in default* on a federal student loan, you might be able to receive a FFEL Consolidation Loan provided the defaulted loan is not subject to a judgment or wage garnishment.

For more information, contact a lender that participates in the FFEL Consolidation Loan Program.

What kinds of loans can be consolidated under a FFEL Consolidation Loan?
All of the loans discussed in this publication are eligible for consolidation. A participating lender can give you a complete listing of eligible loans.

You will receive either a Subsidized and/or an Unsubsidized FFEL Consolidation Loan, depending on the types of loans you are consolidating.

How do I pay back my FFEL Consolidation Loan?
All the FFEL repayment plans are available to borrowers of FFEL Consolidation Loans.

How can I get a FFEL Consolidation Loan?
You'll be given more information about Consolidation Loans during entrance and exit counseling sessions at your school. You may also contact the consolidation department of a participating lender for an application or more information. If the same holder holds all of the loans you want to consolidate, you must obtain your consolidation loan from that holder, unless you have been unable to secure a loan
with income-sensitive repayment terms.

Go on to Direct Consolidation Loans Page 24 - Campus Based Programs Page 26 - Federal Supplemental Education Opportunity Grants Page 27