Consolidating direct federal student loans

Information about federal loan consolidation may be found at log in using your FSA ID, and click on the Repayment & Consolidation tab.

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There are no fees, no credit checks, and no pre-payment penalities on a federal student consolidation loan.

The interest rate for a federal consolidation loan will be a fixed rate, which is determined by the weighted average of the interest rates on the loan(s) being consolidated, rounded to the nearest higher one-eighth of one percent.

In other words, if you have federal student loan debt, you can apply for a new loan through William D.

Ford Direct Loan Program to consolidate your existing loans.

By consolidating your education loan(s), your interest rate will be fixed and determined by the weighted average of the interest rates on the loan(s) being consolidated, rounded to the nearest higher one-eighth of one percent.

You may determine your interest rate by using the Repayment Estimator on the click on the Repayment & Consolidation tab.

Using automatic payment ensures that on-time payments will be made; this option should be considered by every borrower entering loan repayment.

If you are interested in an automatic payment process, contact your consolidation loan servicer.

Most of the current deferment and forbearance provisions of Direct student loans are retained after being consolidated.

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