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To consolidate your federal student loans, first complete an application form for direct consolidation online or by mail. Once you have selected a repayment plan and loan servicer, your ...
Consolidating student loans is a smart step for many federal borrowers; here are a few of the advantages: ... you’ll apply via an online application on the Federal Student Aid website.
The Federal Loan Consolidation Program was created in 1986. In 1998, the United States Congress changed the interest rate to the aforementioned fixed rate weighted mean, effective February 1, 1999.
Because the U.S. Department of Education doesn’t run a credit check as part of the application process, borrowers with bad credit can still consolidate their student loans, says Tate Law.
Borrowers with some types of federal student loans have until today to consolidate their loans to qualify for full student loan cancellation or credit toward cancellation. The Education Department ...
Direct Consolidation: These loans enable the student to consolidate multiple federal loans into one loan at no added cost. If a student has multiple loans, he or she can consolidate multiple monthly payments into one monthly payment at the average rate of the loans being consolidated. [13]
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