Federal Direct Consolidation Loan

A Federal Direct Consolidation Loan allows you to combine multiple federal student loans into a single, larger loan with one monthly payment. This can simplify loan management, possibly reduce your interest rate if you qualify for a lower rate, and extend your repayment period for more manageable payments. The consolidation doesn't erase your existing debt but consolidates it into one loan, making it easier to track and pay off. It’s a helpful option for borrowers seeking flexibility and organization in managing their federal student loans.