Debt Management Tips - Loan Consolidation

By consolidating your student loan debt into one loan, you may avoid having to make multiple monthly payments to various lenders. You may consolidate the following undergraduate and graduate loans: Federal Perkins Loan, Federal Unsubsidized and Subsidized Stafford Loans, Federal Direct Loans, Health Professions Loans and/or Federal Nursing Student Loans.

A consolidation loan may:

Extend repayment up to 30 years
Lower your monthly payments
Have higher interest costs using a weighted average of your loans
Not qualify for certain deferments
Not include private loans and other consumer debts