Consolidating loans while in school Sexxhat
In some cases, you can include an existing consolidation loan in a new Direct Consolidation Loan, particularly if you've taken out one or more additional federal student loans. There are no prepayment penalties on federal or private student loans.
Making extra payments is a great way to pay off your loans faster and save money on interest.
In certain circumstances, such as a return to school, unemployment, or financial hardship, student loan payments can be temporarily suspended.
Check with your loan servicer to obtain the necessary forms.
offer benefits and protections that do not transfer to private lenders.
Our Consolidation Loan Calculator can help you estimate your new rate and monthly payment.
A Direct Consolidation Loan cannot include private student loans.
For example, under the Public Service Loan Forgiveness Program (PSLFP), your Direct Loan balance may be eligible for forgiveness after 120 payments if you’ve worked in the public sector that entire time.
Similarly, the Teacher Loan Forgiveness Program is available for teachers who work in schools that serve low-income families full-time for five consecutive years.