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Content Details

ED479150 - Student Loans Driving You Crazy? A Borrower's Guide to Direct Consolidation Loans

Category
Executive Agency Publications
Collection
Education Reports from ERIC
SuDoc Class Number
ED 1.615:
Date Issued
January 1, 2003
Source Institution
Office of Federal Student Aid (ED), Washington, DC
Publication Type
Guides - Non - Classroom
Subject
College Graduates, Debt (Financial), Higher Education, Loan Repayment, Student Financial Aid, Student Loan Programs
Identifiers
Student Loan Consolidation Program
Abstract
This booklet describes the Direct Consolidation Loan program students can use to combine one or more student loans into a new loan. Things to consider before seeking a consolidation loan are outlined. Direct consolidation loans offer a number of advantages; they are free, result in one lender and one monthly payment, and offer flexible repayment options with the possibility of a lower interest rate. Eligibility requirements are described, and a list of eligible loan types and those that are not eligible is provided.