Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Student Loan Consolidation and other Student Loan topics.
Student loan consolidation rates are federal and consist of subsidized and unsubsidized Direct and FFEL Stafford Loans, Direct and FFEL Plus Loans and many more. If your education is private, your eligibility for consolidation rates will be nonexistent because a private education is simply not eligible by any company for consolidation.
If you happen to be in default, certain requirements on your behalf must be met before you can consolidate loans. A plus loan is also very popular under consolidation rates. A plus loan is offered to the parent or a graduate or professional student enrolled in a professional course of study. However, a plus loan cannot be transferred to the student.
This means any student applying for loan consolidation can never include their parents plus loan. There are many complex issues regarding student loan consolidation rates, it is best to contact the Direct Loan Organization’s Consolidation Department at 1-800-557-7392. The best website to visit it www.loanconsolidation.ed.gov.
Stafford, PLUS, and Consolidation loans come directly from the U.S. Department of Education under the Direct Loan Program.
|Jennifer Mathes, Ph.D.|