Consolidating direct plus loans

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Interest rates on private consolidation loans are based on your credit and market conditions, which means your new interest rate will depend on your current credit score.

So if you’ve already graduated, landed a job, and have started to strengthen your credit score, you might find that you’re eligible for a lower interest rate than when you initially applied for your existing loans.

The Direct Consolidation Loan allows you to consolidate multiple federal student loans into one.

You can choose to consolidate your private loans into one loan as well.

Consider the following resources to help you determine if and when consolidating might be the right option for you: If you have questions about the number of loans you have borrowed, the amount of each loan, or your outstanding balance(s), check with the My Federal Student Aid website or National Student Loan Data System (NSLDS).

A Direct Consolidation Loan allows you to combine multiple federal student loans into one loan, one payment and one fixed interest rate.

While you can’t combine your private student loans with federal loans into the Direct Consolidation Federal Loan, you may find that a private loan consolidation will accept your federal loans.

The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website.If you decide to submit a consolidation request, please continue to make payments until you receive notification that the consolidation has been completed.You may request to add more eligible loans to a new Direct Consolidation Loan within 180 days of the consolidation being made (disbursed).Unlike federal loans, these loans are not managed by the government.Instead, your loan is managed by a lending institution, such as a bank, credit union, college foundation, or a state agency.

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