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Can I obtain a Direct Consolidation Loan if I don have any Direct Loans?

April 26, 2017consolidation loan Loans obtain

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Can I obtain a Direct Consolidation Loan if I don have any Direct Loans?

2 Answers

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Borrowers who do not have any Direct Loans may be eligible for Direct Consolidation Loans if they included at least one FFEL Loan and has been unable to obtain a Federal Consolidation Loan with a FFEL consolidation lender or has been unable to obtain a Federal Consolidation Loan with income-sensitive repayment terms acceptable to them.

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Yes, borrowers without any Direct Loans may be eligible for a Direct Consolidation Loan if they include at least one FFEL Loan and have been unable to obtain a Federal Consolidation Loan with a FFEL consolidation lender or have been unable to obtain a Federal Consolidation Loan with income-sensitive repayment terms acceptable to them or intend to apply for loan forgiveness under the Public Service Loan Forgiveness Program. NOTE: The Direct Loan Servicing Center has information on the Public Loan Service Forgiveness Program.