Consolidation can greatly simplify loan repayment

Direct loan consolidation allows you to combine multiple federal student loans into one loan; but it also can result in loss of some benefits. Once your loans are combined into a direct consolidation loan, they cannot be removed. The loans that were consolidated are paid off and no longer exist.

Carefully consider whether direct loan consolidation is the best option for you. Loan consolidation can greatly simplify loan repayment by centralizing your loans to one bill and can lower monthly payments by giving you up to thirty years to repay your loans. You might also have access to alternative repayment plans you would not have had before, and you will be able to switch your variable interest rate of direct loans to a fixed interest rate.