Consolidating loan scholl
A Direct Consolidation Loan allows you to combine multiple federal student loans into one loan, one payment and one fixed interest rate.If you decide to consolidate, you can choose your servicer – Good News, MOHELA can be your choice!
Adding Other Loans to a Consolidation Loan You may also add eligible federal loans to your existing Direct Consolidation Loan using the form below if you are within 180 days of the date we paid off the first loans you are consolidating.
Consolidation into the Direct Loan program may allow borrowers with FFELP loans to take advantage of repayment plans or forgiveness options created solely for Direct Loans.
You should weigh the advantages and disadvantages before you take this action.
Certain eligibility conditions apply and an annual renewal is required – so be sure to find out how these plans work.
If you're repaying federal student loans in an Income-Driven Repayment (IDR) plan, each year you need to re-certify your plan by providing updated income documentation and certification of your family size.