Consolidating student loans federal program

Note that some consolidation pros apply just to federal loans or just to private loans.This is one reason that, if you have both types of loans, you may want to consolidate them separately (see below).While you do not need to meet any minimum for combining debt under the federal Direct Consolidation Loan program, private lenders and loan companies tend to demand a minimum loan balance.You cannot consolidate private student loans with federal student loans, and you can only consolidate the loans you hold in your name; this means that you cannot consolidate your own loans with your spouse's or with loans your parents may have taken out to finance your college education.

More than 44 million borrowers owe

More than 44 million borrowers owe $1.4 trillion in student loan debt in 2017.

Unlike the other loans, consolidation loans have a fixed interest rate for the life of the loan.

Consolidation loans have longer terms than other loans. Although the monthly repayments are lower, the total amount paid over the term of the loan is higher than would be paid with other loans.

In the United States, the Federal Direct Student Loan Program (FDLP) includes consolidation loans that allow students to consolidate Stafford Loans, PLUS Loans, and Federal Perkins Loans into one single debt.

This results in reduced monthly repayments and a longer term for the loan.

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More than 44 million borrowers owe $1.4 trillion in student loan debt in 2017.Unlike the other loans, consolidation loans have a fixed interest rate for the life of the loan.Consolidation loans have longer terms than other loans. Although the monthly repayments are lower, the total amount paid over the term of the loan is higher than would be paid with other loans.In the United States, the Federal Direct Student Loan Program (FDLP) includes consolidation loans that allow students to consolidate Stafford Loans, PLUS Loans, and Federal Perkins Loans into one single debt.This results in reduced monthly repayments and a longer term for the loan.

.4 trillion in student loan debt in 2017.Unlike the other loans, consolidation loans have a fixed interest rate for the life of the loan.Consolidation loans have longer terms than other loans. Although the monthly repayments are lower, the total amount paid over the term of the loan is higher than would be paid with other loans.In the United States, the Federal Direct Student Loan Program (FDLP) includes consolidation loans that allow students to consolidate Stafford Loans, PLUS Loans, and Federal Perkins Loans into one single debt.This results in reduced monthly repayments and a longer term for the loan.

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