QHow Do I Know If I Am Eligible To Consolidate My Loans?
AIn order to apply for the Federal Consolidation Loan, you must have at least $7,500 in eligible federal student loans. All loans must be in the grace period, in active repayment status, or deferment, and loans to be consolidated cannot be in default. You may not have already consolidated, unless you have a new loan to add. Eligible Federal student loans include: DSS- Direct Subsidized Stafford Loans DUS- Direct Unsubsidized Stafford Loans DPLUS- Direct PLUS Loans DUCON- Direct Unsubsidized Consolidation Loan, including Direct PLUS Consolidation Loans SS-Subsidized Federal Stafford Loans, formerly Guaranteed Student Loans (GSL) US- Unsubsidized and Nonsubsidized Federal Stafford Loans NSL-Federal Nursing Loans PERK- Federal Perkins Loans, formerly Nations Defense/National Direct Student Loans (NDSL) PLUS- Federal PLUS (Parent) Loans SCON- Subsidized Federal Consolidation Loans UCON- Unsubsidized Federal Consolidation Loans SLS- Federal Supplemental Loans for Students (formerly Auxiliary Loans to Assist Students (ALAS) and Student PLUS Loans) NOTE: You may consolidate a Consolidation Loan only if you are combining that loan with at least one other eligible loan for you or your spouse, although spousal consolidation has some risks.