When we refer to consolidation, we are talking about the federal student loan consolidation program. This program is only available for federal student loans. Private student loans may not be included.
Most federal loans are eligible for a Direct Consolidation Loan, such as:
- Subsidized Federal Stafford Loans (both Direct and Federal Family Education Loans ‘FFEL’)
- Unsubsidized Federal Stafford Loans (both Direct and Federal Family Education Loans ‘FFEL’)
- PLUS Loans (both Parent PLUS* and Grad PLUS borrowed by you)
- Federal Perkins Loans
- HEAL Loans
- Supplemental Loans for Students
For a complete list of eligible loans, please refer to the U.S. Department of Education.
*Parent PLUS borrowers, you can consolidate this loan through the Federal Direct Consolidation loan program, however the loan obligation will remain yours. If you want to transfer the debt obligation to your child, some lenders will allow your child to refinance PLUS loans into their name.
NOTE: Private student loans can be consolidated by themselves, or along with federal student loans through a process referred to as refinancing. If you are looking to consolidate private student loans, you will want to look for information on private student loan refinancing.