Consolidating a federal student loan

We recommend you compare your current loan terms against the consolidation loan terms.

For example, you may not want to include loans with a lower interest rate than the consolidation loan.

During that time, we complete the credit review process, you (and your cosigner, if applicable) will sign the loan documents and we will ask you to obtain payoff statements from your current loan servicers.

This could result in a lower interest rate and/or a lower monthly payment.

Once these steps are complete, we will notify you when your loan(s) are consolidated and provide your new minimum monthly payment amount and due date.

Please continue making your monthly payments until we notify you that your consolidation loan has disbursed.

NOTE: The federal government does not have a student loan refinancing program.

If you refinance your Direct Student Loans or Direct PLUS Loans with a private loan, you will lose the deferment, forbearance, forgiveness, cancellation benefits, and income-driven repayment benefits offered through the Direct Loan Program.

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You have the opportunity to compare lenders to find the best loan refinance option for you.

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