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allows you to consolidate (combine) multiple federal education loans into one loan. Direct PLUS Loans received by parents to help pay for a dependent student’s education cannot be consolidated together with federal student loans that the student received.

The result is a single monthly payment instead of multiple payments. Refer to the complete list of federal student loans eligible for consolidation in the application.

The downsides are notable, however, and you will need to ask yourself some hard questions: Do you have the time to train yourself and learn about debt management?

Do you have access to key debt and lending decision makers at financial institutions, credit agencies and the credit report bureaus?

Basically, debt negotiation is a last resort before you start looking at bankruptcy - a route that definitely requires professional help. Top Private education loans are not eligible for consolidation, but for some Direct Consolidation Loan repayment plans, the total amount of your education loan debt—including any private education loans—determines how long you have to repay your Direct Consolidation Loan. The loans that were consolidated are paid off and no longer exist.If you select this option, you won’t have to begin making payments on your new Direct Consolidation Loan until closer to the end of the grace period on your current loans.Top Borrowers have different needs, so there are several repayment plans—including income-driven repayment plans, which base your monthly payment amount on your income and family size.

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