Can I consolidate my Federal Family Education Loan (FFELP) Program loans with my Federal Direct Loans under the same repayment plan?
• A. Yes. If you have other federal student loans, such as those in the Federal Family Education Loan Program (FFELP’s), in addition to your Federal Direct Loans, you might want to consider a Federal Direct Consolidation Loan to simplify repayment. Consolidation allows you to make only one monthly payment to cover all your loans (including FFELP’s). You’ll also get the benefits of Federal Direct Loan Consolidation, such as greater repayment flexibility. If you are in default on a federal student Loan, you may consolidate if you agree to repay under the Income Contingent Repayment Plan. (This option does not apply to borrowers who are in default on PLUS loans or to in-school borrowers with defaulted loans.) If you do not wish to repay under the Income Contingent Repayment Plan, you must make three consecutive monthly payments to your current holder under a satisfactory repayment arrangement before you can consolidate your loans. Your three monthly payments are not allowed to be more tha
Related Questions
- Can I consolidate my Federal Family Education Loan (FFELP) Program loans with my Federal Direct Loans under the same repayment plan?
- What is the difference between the Family Federal Education Loan Program (FFELP) and Direct Loans?
- What is the difference between Direct Loans and the Federal Family Education Loan Program (FFELP)?
