Federal Loan Consolidation

Make sure consolidating your student loans is right for you.

Federal student loan consolidation allows you to combine one or more existing student loans into a single new loan. If you're having trouble making your monthly student loan payments, then consolidation might be the right option for you.

Consider This First

• More interest to repay.
  Although a consolidation loan offers a longer repayment term and lower monthly payment, you will have a much higher interest payback over the life of the loan because you're making smaller payments over a longer period of time.
• Eligibility.
  Effective June 1, 2008, borrowers must have at least 1 PHEAA/AES-guaranteed loan to be eligible for federal loan consolidation. Learn more.
• Explore other options first.
  If you can manage a smaller payment or if you're experiencing a financial hardship, you might want to consider other options.