| If you've financed your education with a variety of | | | | FFEL school loans consolidations are available with a |
| student loans and are now facing a barrage of | | | | variety of repayment options. They include the |
| monthly payments, you may find that a student loan | | | | standard, graduated, extended, and income-sensitive |
| consolidation will work to your advantage. But if your | | | | repayment plans, and while every FFEL lender offers |
| loans are courtesy of the Federal government, you | | | | them, the details of each is different. The |
| may not be surprised to learn that there is a plethora | | | | income-sensitive option, for example, factors the |
| of regulations for you to follow in applying for | | | | total student loan debt into the amount of the |
| student loan consolidation. | | | | monthly repayments. |
| FFEL And Direct Consolidation Loans | | | | The Direct Consolidation Loan Program, on the other |
| The US Federal government offers two school loan | | | | hand, has the standard, extended, graduated, and |
| consolidation options, the Federal Family Education | | | | income-contingent repayment options. The |
| Loan Program, or FFEL, and the Direct Consolidation | | | | income-contingent repayment option is based on |
| Loan program. It's up to you to understand how they | | | | factors including the borrower's adjusted gross |
| differ. | | | | income, family size, and amount of school loan debt. |
| If you have existing school loan consolidations which | | | | Even those who have defaulted on an FFEL |
| you wish to combine, the Direct Consolidation Loan | | | | consolidation loan may be considered for consolidation |
| Program must be willing to accept them. While some | | | | of their default into a second consolidation, but if you |
| FFEL lenders may accept all eligible all for | | | | are in this situation you may have to hunt for a |
| consolidation, others lenders may accept only FFEL | | | | lender to accommodate you. The Direct Consolidation |
| loans. But if an FFEL lender refuses to include your | | | | Loan Program will also permit the consolidation of |
| non-FFEL loans in a school loan consolidation, it may | | | | defaults, and if you can find a lender who will do it, |
| offer you an alternative way to consolidate them. | | | | you will have your eligibility for Federal student loans |
| Repayment Options | | | | restored. |