Receiving Aid in '08-'09
Consolidation
The Federal Direct Consolidation Loan Program allows you to combine one or more of certain federal student loans and to make one monthly payment to the federal government. There is no charge for consolidation, and four repayment plans are offered. This rate is fixed for the life of the loan and cannot exceed 8.25 percent. Following are just a few of the loans that can be consolidated: Federal Direct Stafford/Ford Loans, Federal Direct Unsubsidized Stafford/Ford Loans, Federal Family Education Loans, Federal Perkins Loans, and Public Health Service Loans. For more information, call Direct Loan Borrower Services Consolidation at: 1-800-557-7392; 1-800-557-7395 TDD; or go to: www.loanconsolidation.ed.gov.