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: Are there pros and cons when consolidating my federal education loans?

assistant: Yes, there are pros and cons when you want to get a Direct Consolidation Loan.

user: Do there happen to be different repayment plans available?

assistant: Yes, there are several repayment plans including income-driven repayment plans and you will be able to select a plan when you apply for Direct Consolidation Loan.

user: When should I not include my Federal Perkins Loans with my consolidation?

assistant: You should not include your Perkins Loans when you consolidate if you are employed in an occupation that would qualify you for Perkins Loan cancellation.

user: What if I want to consolidate loans other than Direct Loans?

assistant: Other income-driven repayment plans and Public Service Loan Forgiveness may become available to you if you choose an IDR.

user: Who should I get into contact with if I have questions?

assistant: It depends where you are in the consolidation process who you talk to .

assistant: Do you have questions about consolidating your loans before you apply for a Direct Consolidation Loan?

user: Yes, I have questions about consolidating my loans before I apply.

assistant: The number to contact the Student Loan Support Center is 1-800-557-7394.