Education Loan Consolidation – How to Apply for Consolidation Loans

Education Loan Consolidation – Consolidation Loans are available to most borrowers of Federal education loans. See below for all you need to know to apply;

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

Program Requirements

Generally, you are eligible to consolidate after you graduate, leave school, or drop below half-time enrollment. Most Federal student loans are eligible for consolidation, including:

  • Direct Subsidized Loans
  • Direct Unsubsidized Loans
  • Subsidized Federal Stafford Loans
  • Unsubsidized Federal Stafford Loans
  • Direct PLUS Loans
  • PLUS loans from the Federal Family Education Loan (FFEL) Program
  • Supplemental Loans for Students (SLS)
  • Federal Perkins Loans
  • Federal Nursing Loans
  • Health Education Assistance Loans
  • Some existing consolidation loans

Application Process

You apply for a Direct Consolidation Loan through

Once you sign in to using your personal identifiers and Federal Student Aid PIN, you will be able to electronically complete the Federal Direct Consolidation Loan Application and Promissory Note. The electronic application on consists of the following five steps:

1. Choose Loans & Servicer
2. Repayment Plan Selection
3. Terms & Conditions
4. Borrower & Reference Information
5. Review & Sign

Loan Terms

Maximum Loan Amount: None

Interest Rate: Weighted average interest rate on the loans being consolidated, rounded to the nearest one-eighth of 1 percent, not to exceed 8.25 percent. For more information of the specific loan terms, please visit the Loan Consolidation home page.

Maximum Loan Length: 10-30 years

Frequency of Payments: Varies

Prepayment penalties: None

Fees: None

Contact Information

For more information, visit the Federal Student Aid Loan Consolidation page. Or Visit the Contact Us page.

Additional Information

Additional Information
Max Loan Length 10-30 years
Interest Rate Varies, does not exceed 8.25%
Payment Frequency Varies
Prepayment Penalties None
Fees None
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