Consolidating your federal education loans can simplify your payments, but it also can result in the loss of some benefits. 
Learn about consolidation so you can weigh the pros and cons and decide whether a Direct Consolidation Loan is right for you. A Direct Consolidation Loan allows you to consolidate combine multiple federal education loans into one loan. The result is a single monthly payment instead of multiple payments. Loan consolidation can also give you access to additional loan repayment plans and forgiveness programs. There is no application fee to consolidate your federal education loans into a Direct Consolidation Loan. You may be contacted by private companies that offer to help you apply for a Direct Consolidation Loan, for a fee. These companies have no affiliation with the U.S. Department of Education ED or ED s consolidation loan servicers. There s no need to pay anyone for assistance in getting a Direct Consolidation Loan. The application process is easy and free. 

Should I consolidate my loans? 
The answer depends on your individual circumstances. Pros If you currently have federal student loans that are with different loan servicers , consolidation can greatly simplify loan repayment by giving you a single loan with just one monthly bill. Consolidation can lower your monthly payment by giving you a longer period of time up to 30 years to repay your loans. If you consolidate loans other than Direct Loans , consolidation may give you access to additional income - driven repayment plan options and Public Service Loan Forgiveness PSLF. Direct Loans are from the William D. Ford Federal Direct Loan Program. You ll be able to switch any variable - rate loans you have to a fixed interest rate. Cons Because consolidation usually increases the period of time you have to repay your loans , you will likely make more payments and pay more in interest than would be the case if you didn t consolidate. When you consolidate your loans , any outstanding intere

user: What does consolidating your federal education help with and not help with?

assistant: It is best to learn about consolidation so you can learn about the pros and cons and decide if Direct Consolidation Loan is best for you.

user: When am I able to consolidate my loans?

assistant: After you graduate, leave school, or drop below half-time enrollment is when you are eligible for consolidation.

user: What if I have federal student loans that are with different loan servicers?

assistant: Actually, consolidation would be simplifying loan repayment by giving you a single loan with just one monthly bill.

user: What if I am being contacted by private companies that offer help applying for a Direct Consolidation Loan for a fee?

assistant: Those companies have no affiliation with the US Department of Education loan servicers and there is no reason to pay anyone for assistance.

user: Could I apply for a Direct Consolidation Loan online?

assistant: Yes, you can complete and submit an application for Direct Consolidation online or if need be you can download and print a paper application for submission by mail.

assistant: Did you submit your application electronically or by mail yet?