If you have private loans, or a mix of federal of private, you can consolidate by taking out a new loan through a private lender. Because consolidation works a little bit differently depending on which types of loans you have, we are going to tackle consolidation from several different angles: However, it's important to know that the interest rate on your Direct Consolidation Loan is not always lower.
Instead, the rate is calculated by taking the weighted average of the interest rates on your existing loans and then rounding up to the nearest one-eighth of 1%. So, i the Federal Loan Consolidation Information Call Center at 1-800-557-7392.
If your loan is one of the many listed above, you have options!
But just because you can consolidate your federal loans through the Federal Direct Consolidation Loan program, does that mean you should?
There are four types of Direct Loans available: Federal student loans are an investment in your future.
On July 1, 2014, the HEAL Program was transferred from the U. Department of Health and Human Services (HHS) to the U. The making of new HEAL Program loans was discontinued on Sept. Borrowers who have HEAL Program loans and members of the community may obtain more information as outlined below.
Like any financial decision, it depends on each person’s situation if refinancing makes sense for them.