The process to consolidate you student loans will vary depending on whether you are doing it through the Department of Education Direct Loan Servicing or a private lender. Often the process may start by reviewing the criteria in place to see if your loans will even qualify to be included in a consolidation. While a consolidation loan can include all federal student loans, some programs require a minimum loan balance or a minimum number of loans be included. There also may be a requirement that you already have an existing relationship with the student loan servicer. Typically the loan consolidator will offer options to borrowers regarding automatic payments (electronic debit); incentives for timely monthly payments; and, repayment plans.

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