Loan Consolidation

The Federal Government is the lender for William D. Ford Federal Direct Student Loans and for Federal Direct Parent PLUS Loans at the University of Georgia. The U.S. Department of Education's Direct Loan Repayment Center offers repayment plans that meet students' needs. If you have several loans, loans with more than one lender, or federal education loans of different types it may be convenient to consolidate all loans into a single payment. This can be done before or during repayment, but not while still enrolled in school.

Loan consolidation offers a maximum repayment period (with restrictions) of more than ten years if loan amounts of $7,500 or more are consolidated. Students may reduce the monthly payment amount through loan consolidation as well as have the convenience of a single monthly payment. Making smaller payments over a longer period of time will increase interest costs and the total amount that is repaid. Call (800) 557-7392 for repayment information about Federal Direct Loan(s) or access the Federal Direct Consolidation Loans Information Center at http://loanconsolidation.ed.gov.

The major benefit of consolidating is that you will have only one monthly payment to make for all loans consolidated and the interest rate will be fixed for the life of the loan. You may be able to reduce the interest rate on your loans and the amount you repay monthly. You can choose from four repayment plan options that offer the chance to repay your loan(s) in a way that best suits your individual financial needs, including plans that may allow you up to 30 years to repay.

The following loans may be included in a Direct Consolidation Loan:

• Direct Stafford/Ford Loans (Subsidized and Unsubsidized)
  
  
• FFEL Stafford Loans (Subsidized and Unsubsidized)
  
  
• Direct and FFEL PLUS Loans
  
  
• Direct and FFEL Consolidation Loans
  
  
• Guaranteed Student Loans (GSL)
  
  
• Federal Insured Student Loans (FISL)
  
  
• Federal Supplemental Loans for Students (SLS)
  
  
• Auxiliary Loans to Assist Students (ALAS)
  
  
• Federal Perkins Loans
  
  
• National Direct/National Defense Student Loans (NDSL)
  
  
• Health Professions Student Loans (HPSL)
  
  
• Health Education Assistance Student Loans (HEAL)
  
  
• Nursing Student Loans (NSL)
  
  
• Loans for Disadvantaged Students (LDS)