Consolidating a federal student loan

One of the biggest myths when it comes to student loans is whether you can combine your Federal and private student loans. Well, since the middle of 2014, you can actually refinance and consolidate both your Federal and private student loans into a single loan with many private lenders.

When you consolidate student loans – either federal or private – it’s one payment to one lender, once-a-month. Loan consolidation for student loans was created to make it easier for millions of borrowers to pay off their debt.

Consolidation programs exist for both federal and private student loans, but the purpose of this page is to discuss federal student loan consolidations.

For more information of private student loans, click here. W Bush first passed the Direct Loan program in 1992, as an amendment under the Reauthorization of the Higher Education Act.

Ideally, you would qualify for debt consolidation after graduation.

However, you also could qualify when you leave school or are enrolled less than half-time.

Today, the answer to that question is probably yes!

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