You can get a direct consolidation loan during your grace period, once you have entered repayment, or during periods of deferment or forbearance. You must consolidate at least one Direct Loan or FFEL Loan.
If you don’t have a Direct Loan but have an FFEL Loan, you must first contact an FFEL lender who makes FFEL Consolidation Loans to ask about obtaining an FFEL Consolidation Loan. If you are eligible for the Direct Loan Income Contingent Repayment Plan and you are unable to obtain an FFEL Consolidation Loan or one with income-sensitive repayment terms that are acceptable to you, you are eligible to apply for a Direct Consolidation Loan.
If you are still in school, you may apply for a Direct Consolidation Loan for any Direct Loans or FFEL Loans if you are attending at least half-time and have at least one Direct Loan or FFEL Program Loan in an in-school period. (Generally, your loan is in an in-school period if you have been continuously enrolled at least half-time since the loan was disbursed.)
admin
7 Mar, 2008
