A consolidation loan allows you to combine any or all of your outstanding federal student loans into a single new loan. With a Consolidation loan—available through both the Federal Family Education Loan Program and the Federal Direct Loan Program—comes new terms and conditions. Before you decide to consolidate your loans, take some time to see if you would benefit.
To determine if consolidation is right for you and your entire student loan portfolio, consider the various loan provisions including interest subsidy, deferment, forbearance, forgiveness and cancellation.
Check out EdWise®, the Online Financial Planning Guide, to evaluate your repayment options.
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