Here at Student Loan Adjusters our mission is simple. We will guide you every step of the way through the complex task of completing the application process for a Direct Consolidation Loan through the U.S. Department of Education. Our company has over 20 years of experience in the student loan industry, and we take pride in our proven approach to handle your application process from start to finish. Our representatives are here to answer your questions and find the best option for you going forward.
Some of the Benefits of a Direct Consolidation Loan
Direct Consolidation Loans allow you to combine one or more of your Federal education loans into a new loan that offers several advantages.
One Lender and One Monthly Payment
Once you have consolidated your loans you will have one lender and one monthly payment. The U.S. Department of Education, for all loans included in a Direct Consolidation Loan. It will then be easier than ever for you to manage your obligations.
Flexible Repayment Options
You can choose from multiple repayment options to repay your Direct Consolidation Loan, including plans that base the required monthly payment amount the your income. These plans are designed to be flexible to meet the changing needs of anyone who has federal loans. With a Direct Consolidation Loan, you can switch repayment options at anytime.
No Minimum to Qualify
There is no minimum amount required to qualify for a Direct Consolidation Loan.
Reduced Monthly Payments
A Direct Consolidation Loan may ease the strain on your budget by lowering your overall monthly payment. The minimum monthly payment on a Direct Consolidation Loan may be lower than the combined payments charged on your Federal Education Loans.
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You keep your Subsidy Benefits
There are two (2) possible portions to a Direct Consolidation Loan: Subsidized and Unsubsidized. You will retain your subsidy benefits on most types of subsidized loans that are consolidated into the subsidized portion of a Direct Consolidation Loan.
Do you qualify for a Consolidation Loan?
To qualify for Direct Consolidation Loans, you must have at least one Direct Loan or Federal Family Education Loan (FFEL) that is in grace or repayment period. Repayment status includes loans that are in a deferment or forbearance period. Loans that are in an in-school status cannot be included in a Direct Consolidation Loan.
Loans in default?
Most defaulted federal education loans can be consolidated, as long as you make satisfactory repayment arrangements with your current loan holder(s). You can also agree to repay their new Direct Consolidation Loan under the Income Contingent Repayment Plan or Income Based Repayment Plan.
If you don't have Direct Loans
Those who don't have Direct Loans may be eligible for a Direct Consolidation Loan if they consolidate at least one Federal Family Education Loan (FFEL).
Enrolled in school?
If you are enrolled in school, any loans that are considered In-School Status cannot be consolidated. These are loans that have not yet entered or used up the 6-month grace period entitlement. However, you may consolidate loans that are considered In-School Deferment status.
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For any further questions call 1-800-601-5432 to speak to one of our loan specialist.
We look forward to speaking with you!
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Student Loan Adjusters, LLC is a privately owned company and is in no way affiliated with any federal, state, or local government agencies and makes no such claims.