If you decide to consolidate after your counseling session, you will enjoy the benefit of one monthly payment.
During your counseling session, you will learn about your consolidation options. Consolidating may reduce your payment to as low as $0 per month, depending on your income.
Find out what loan forgiveness programs you qualify for, based on your occupation and payment history.
If you’re struggling to make your student loan payments on the Standard Repayment Plan, rest assured there are programs available to drastically reduce your payment. These include payments tied to your income, payments that start low and gradually increase over time as you make more money, and payment plans stretched over a longer repayment period.
If you have exhausted the deferment options on your current Federal education loans, a Direct Consolidation Loan may renew many of those deferment options. In addition, you may be eligible for additional deferment options if you have an outstanding balance on a FFEL Program loan made before July 1, 1993, when you obtain your first Direct Loan.
Public Service Loan Forgiveness is only available to borrowers with Direct Loans and Direct Consolidation Loans. Convert your ineligible FFEL and Perkins Loans to Direct Consolidation Loans. Under this program, public service workers can obtain low monthly payments (based on income) and have their outstanding balance forgiven after 120 on-time payments.