Loan Consolidation

The Federal Consolidation Loan was designed to assist you with managing your debt.  If you have several different loan payments (or will have several loan payments after graduation) and wish to make just one payment, you may apply for a Consolidation Loan.  With loan consolidation, your lender combines your existing loans into a single loan.

The following preferred lender websites have information on consolidation criteria and how to complete the consolidation process:

SallieMae                    www.salliemae.com/consolidation

IDAPP                         www.idapp.com

Citibank                      www.studentloan.com/consolidate

Students graduating May 6, 2006 and after should be aware that consolidation reform for FFELP Loan borrowers (subsidized and unsubsidized Stafford Loans) will go into effect on July 1, 2006.

Special care and caution is recommended regarding consolidation and consolidation correspondence.   Private source educational loans (Alternative Loans) are not eligible for federal loan consolidation.

*This site will be updated as further clarification from the U.S. Department of Education is made available.