I need help consolidating my student loans
*The interest rate of a Direct Consolidation Loan is based on the weighted averaged of the underlying loans you want to consolidate, rounded up to the nearest 1/8 of a percent.
The weighted interest rate will be fixed for the life of the loan.
If you have multiple individual debts to repay it can get complicate to juggle all those bills within your budget.
Namely, you can bring defaulted federal student loan debt current by using a Direct Consolidation Loan.But the loan structure, interest rate and how you qualify varies greatly from other types of consolidation loans.This guide is designed to help you fully understand how these loans work.You will retain most benefits offered by the federal student loan program (depending on your federal loan type), but you cannot include any private student loans with this option.Some borrowers have utilized this program to take advantage of certain federal student loan benefits, like Public Service Loan Forgiveness.