Consolidating fed student loans
Although the program existed since then, it was not until President Obama’s budget in 2010 switched all new student loan lending over to the Direct Loan program.
Information on college costs, graduation, and post-college earnings.
Learn about the other options for filing your FAFSA.
A student loan consolidation takes the borrowers loans and combines all the loans into one new loan with one lender, and one weighted average interest rate.
This removes the burden from the borrower of trying to keep track of many different loans, with different lenders, balances, and interest rates.
The Direct Loan program now has a trillion dollar balance, with a yearly increase in the hundreds of billions of dollars being lent to students.There are quite a few good reasons to consider consolidating your federal student loans.