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You Need at Least $8,000
The first eligibility
requirement is that you
have enough student loan debt to consolidate.
By combining at least $10,000 in eligible
federal education loans, you meet
the minimum threshold for consolidation
with our consolidating partners.
You Must be in Grace or Repayment
On the date of school separation
or graduation, your
federal education loans will enter into
a grace period of six months
where no payment will be required.
At the end of six months, your
loans enter into the repayment phase. This is when your monthly payments begin.
Your loans must be
in either the grace or repayment periods
to become eligible for consolidation.
Students who are still attending school do not
qualify.
You should note the advantages of consolidating
your student loans during your grace
period.
The
following loans are eligible for consolidation:
Subsidized Federal Stafford Loans
Direct Subsidized Stafford Loans
Unsubsidized and Non-subsidized Federal
Stafford Loans
Direct Unsubsidized Stafford Loans
Federal Supplemental Loans for Students
Federal Perkins Loans
Health Professions Student Loans/HPSL
Health Education Assistance Loans/HEAL
Federal Insured Student Loans/FISL
Federal PLUS (Parent) Loans/PLUS
Direct PLUS Loans
Subsidized Federal Consolidation
Loans
Direct Subsidized Consolidation Loans
Direct Unsubsidized Consolidation
Loans, including Direct PLUS Consolidation
Loans
Federal Nursing Loans/NSL
Loans that are Ineligible for
Federal Consolidation
Loans
that are Delinquent:
if you are 150 days late on repaying
your loans, most lenders will not consider
your application for consolidation.
You must reduce your delinquency below
150 days.
Public
Health Service Loans:
loans made under Titles VII and VIII
of the Public Health Services are not
eligible for consolidation.
Alternative
or private education loans:
loans made by private lenders for education
purposes are not eligible for federal
loan consolidation. However they can
be consider for Private Loan Consolidation.
Non-education
loans:
credit cards, auto loans, and other
personal loans do not qualify for federal
loan consolidation.
