SO if you've seen my last several posts. I've been reposting information I've been finding from various sources re: issues that I've wanted to research to learn more about. In this case I've been looking into consolidating my student loans and haven't had the time to research it all thoroughly so I've posted a few good links to come back to later when I have more time. Enjoy!
Student Aid on the Web: Special Direct Consolidation Loans
The U.S. Department of Education (the Department) began offering Special Direct Consolidation Loans to eligible borrowers in January 2012. This is a short-term consolidation opportunity, ending June 30, 2012, for borrowers with
at least one student loan held by the Department (a Direct Loan or a Federal Family Education Loan [FFEL] owned by the Department and serviced by one of the Department’s servicers); and
at least one commercially-held FFEL loan (a FFEL loan that is owned by a FFEL lender and serviced either by that lender or by a servicer contracted by that lender).
Special Direct Consolidation Loans are intended to help borrowers manage their debt by ensuring all of their federal loans are serviced by the same entity, resulting in one bill and one payment (borrowers repay loans to a loan servicer). Borrowers will also receive an interest rate reduction on Special Direct Consolidation Loans as a repayment incentive.
The information below describes the following aspects of taking out a Special Direct Consolidation Loan:
Eligibility Requirements, Benefits, and Repayment
Notification of Potential Eligibility
Online Application Process
Additional Information
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