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Instructions for Completing Federal Direct Consolidation Loan

Application and Promissory Note [30-DAY CLEARANCE DRAFT 02/26/2014]

Form Approved

OMB No. 1845-0053

Exp. Date xx/xx/xxxx

BEFORE YOU BEGIN

Gather all of your education loan records, account statements, and bills so 

that you will have all the information needed to complete the Federal Direct 

Consolidation Loan Application and Promissory Note (Note).

Print using a blue or black ballpoint pen. Enter dates as month-day-year 

(mm-dd-yyyy). Use only numbers. Example: June 1, 2014 = 06-01-2014.

Some of the items in the Borrower Information, Loans You Want to 

Consolidate, and Loans You Do Not Want to Consolidate sections may have 

been completed for you. If so, review these items carefully to make sure the 

information is correct. Cross out any information that is incorrect and enter 

the correct information. Put your initials next to any information that you 

change.

Incorrect or incomplete information may delay processing.

BORROWER INFORMATION

Item 1. Enter your last name, then your first name and middle initial.

Item 2: Enter any former names (such as a maiden name) under which one or 

more or your loans may have been made. If none, enter N/A.

Item 3: Enter your nine-digit Social Security Number.

Item 4: Enter your date of birth.

Item 5: Enter your permanent address (number, street, apartment number, 

or rural route number and box number, then city, state, and zip code). If your 

mailing address is a post office box or general delivery, you must list both 

your permanent address and your mailing address. If you do not have a 

permanent street address or rural route number and box number, provide 

the physical location of your residence.

Item 6: Enter the area code and telephone number at which you can most 

easily be reached. (Do not list your work telephone number here.) If you do 

not have a telephone, enter N/A.

Item 7 (optional): Enter your preferred e-mail address for receiving 

communications. You are not required to provide this information. If you do, 

we may use your e-mail address to communicate with you. If you do not 

have an e-mail address or do not wish to provide one, enter N/A.

Item 8: Enter the two-letter abbreviation for the state that issued your 

driver’s license, followed by your driver’s license number. If you do not have 

a driver’s license, enter N/A.

Item 9: Enter your employer’s name and address (street, city, state, zip 

code). If you are self-employed, enter the name and address of your 

business. If you are not employed, enter N/A.

Item 10: Enter your work area code and telephone number. If you are selfemployed, enter the area code and telephone number of your business.

REFERENCE INFORMATION

Items 11 and 12: Enter the requested information for two adults with 

different U.S. addresses who do not live with you and who have known you 

for at least three years. References who live outside the United States are 

not acceptable. If a reference does not have a telephone number or e-mail 

address, or does not wish to provide an e-mail address, enter N/A. If you 

provide an e-mail address for a reference, we may use it to communicate 

with the reference.

LOANS YOU WANT TO CONSOLIDATE

This section asks for information about your federal education loans that you 

want to consolidate. If you need more space to list loans, use the Additional 

Loan Listing Sheet included with your Note. To find the information you will 

need to provide for each loan you list in this section, you can look at the last 

monthly billing statement you received, your quarterly interest statement or 

annual statement, your coupon book, or the Internet site of your loan holder 

or servicer. You may also obtain information about your loans by accessing 

the National Student Loan Data System (NSLDS) at www.nslds.ed.gov. 

Items 13-16: Enter the requested information for all of your federal 

education loans that you want to consolidate, including any Direct Loans that 

you want to consolidate. To receive a Direct Consolidation Loan, you must 

consolidate at least one Direct Loan or FFEL Program loan.

Item 13: Enter the code that corresponds to the loan type from the list of 

loan types and their codes in these instructions. If you are not sure about 

the loan type, leave this item blank.

Item 14: Enter the full name and mailing address of the loan holder or the 

loan holder’s servicer. (This is the address to which you must send your 

payments.) You must provide at least the name, city, and state of the loan 

holder or servicer.

Item 15: Enter the account number for each loan (the number should be 

on your statement or in your payment book). If you cannot find the 

account number, leave this item blank.

Item 16: Enter the estimated amount needed to pay off the loan, including 

any unpaid interest, late fees, and collection costs.

Item 17: If you are in your grace period on any of the loans you wish to 

consolidate and you want to delay processing of your Direct Consolidation 

Loan until you have completed your grace period, enter the month and 

year of your expected grace period end date. If you provide this 

information, processing of your Direct Consolidation Loan will be delayed 

until approximately 30-60 days before the end of your grace period, and 

your consolidation loan will not enter repayment until after your grace 

period ends. If you leave Item 17 blank, processing of your consolidation 

loan will begin as soon as we receive your completed Note and any other 

required documents. Any loans listed in the Loans You 

Want to Consolidate section that are in a grace period will enter 

repayment immediately upon consolidation. You will then lose the 

remaining portion of the grace period on those loans.

LOANS YOU DO NOT WANT TO CONSOLIDATE

This section asks for information about your education loans that you are not 

consolidating, but want to have considered when we determine your 

maximum repayment period. If you need more space to list loans, use the 

Additional Loan Listing Sheet included with your Note. To find the 

information you will need to provide for each loan you list in this section, see 

the instructions for the Loans You Want to Consolidate section.

Items 18-21: Enter the requested information for all of your education loans 

that you do not want to consolidate or that are not eligible for consolidation, 

but that you want considered when we determine the maximum repayment 

period for your Direct Consolidation Loan. 

Item 18: Follow the instructions for Item 13.

Item 19: Follow the instructions for Item 14.

Item 20: Follow the instructions for Item 15.

Item 21: Enter the current balance for each loan. Use the amount on your 

last statement or enter an approximate amount.

REPAYMENT PLAN SELECTION

See the instructions in this section of the Note.

BORROWER UNDERSTANDINGS, CERTIFICATIONS, AND AUTHORIZATIONS

Items 22-24: Carefully read these items.
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Instructions for Completing Federal Direct Consolidation Loan Application and Promissory Note (continued)

PROMISE TO PAY

This is a legally binding contract.

Items 25-29: Carefully read these items and the entire Note, including the 

Borrower Understandings, Certifications, and Authorizations section, the 

Note Terms and Conditions section, and the Borrower’s Rights and 

Responsibilities Statement on pages 10-16.

Item 30: Sign and date the Note. If you do not sign the Note, your application 

cannot be processed.

FINAL NOTES

Review all the information on your Note. When you have completed the 

form, make a copy for your records and mail the original pages 1, 2, 3, 4, and 

5 to us in the envelope provided, along with the completed form(s) identified 

in the Repayment Plan Selection section and any required additional forms 

or documentation. If you do not have the envelope we provided, mail the 

Note to the address shown below.

As soon as we receive your completed Note and supporting documents, we 

will begin processing your application (unless you have entered your 

expected grace period end date in Item 17 of the Loans You Want to 

Consolidate section). During this time, we might call you with questions. 

In the meantime, if you currently are required to make payments on your 

loans, continue to do so. You will need to continue making payments until 

you receive written notification that your loans have been successfully 

consolidated and it is time to start paying your Direct Consolidation Loan. If 

you are having difficulty making payments on your loans, contact your loan 

holder or servicer at the correspondence address or telephone number on 

your current loan statements to find out ways you might be able to postpone 

loan payments; you should ask specifically about your “deferment” and 

“forbearance” options.

IMPORTANT: We will send you a notice before we pay off your loans. This 

notice will:

1. Provide you with information about the loans and payoff amounts that 

we have verified with your loan holder(s) or through NSLDS, and 

2. Tell you the deadline by which you must notify us if you want to cancel 

the Direct Consolidation Loan, or if you do not want to consolidate one 

or more of the loans listed in the notice. 

The notice that we send will include information about the loans you listed in 

the Loans You Want to Consolidate section. If you have additional loans that 

are with a holder of a loan listed in the Loans You Want to Consolidate

section, but you did not list those loans in that section, the notice may also 

include information about those additional loans. For example, if you have 

two Subsidized Federal Stafford Loans with Loan Holder A, but you listed only 

one of these loans in the Loans You Want to Consolidate section, the notice 

that we send may include information about both of your Subsidized Federal 

Stafford Loans that are with Loan Holder A. 

You must inform us by the deadline specified in the notice if you do not 

want all of the loans listed in the notice to be consolidated. 

The notice may also include information about loans you listed in the Loans 

You Do Not Want to Consolidate section, but these loans will not be 

consolidated.

LOAN TYPES AND THEIR CODES

Code Loan Type

A Subsidized Federal Stafford Loans

B Guaranteed Student Loans (GSL)

C Federal Insured Student Loans (FISL)

D Direct Subsidized Loans

E Direct Subsidized Consolidation Loans

F Federal Perkins Loans

G Unsubsidized Federal Stafford Loans (including Nonsubsidized 

Stafford Loans)

H Federal Supplemental Loans for Students (SLS)

I Direct PLUS Loans for Graduate/Professional Students

J Unsubsidized Federal Consolidation Loans

K Direct Unsubsidized Consolidation Loans

L Direct Unsubsidized Loans

M National Direct Student Loans (NDSL)

N National Defense Student Loans (NDSL)

O Subsidized Federal Consolidation Loans

P Auxiliary Loans to Assist Students (ALAS)

Q Health Professions Student Loans (HPSL)

R Health Education Assistance Loans (HEAL)

S Federal PLUS Loans for Graduate/Professional Students

T Federal PLUS Loans for Parents

U Direct PLUS Loans for Parents

V Direct PLUS Consolidation Loans

Y Nursing Student Loans (NSL)

Z Loans for Disadvantaged Students (LDS)

W Education loans ineligible for consolidation

0 Direct Subsidized Loans (Subsidy Loss Eligible)

9 Direct Subsidized Consolidation Loans (Subsidy Loss Eligible)

WHERE TO SEND YOUR COMPLETED FEDERAL DIRECT CONSOLIDATION 

LOAN APPLICATION AND PROMISSORY NOTE

Mail pages 1, 2, 3, 4, and 5 of your completed Note and any other required 

forms (see Final Notes, above) to the following address:

[INSERT SERVICER ADDRESS]

For help completing this form, call [INSERT SERVICER #].

For the hearing impaired, the TDD number is [INSERT SERVICER TDD #]