You may have consolidated your federal loans while you were in school. This was allowed prior to the 2006-07 academic year. If you have consolidated all variable rate Stafford loans, there is likely no economic benefit associated with another federal consolidation.

Stafford loans had variable rates prior to July 1st, 2006. If you have Stafford loans from prior years that were disbursed before July 1st, 2006 and have not been consolidated, you still have variable rate Stafford loans. These variable rate loans may be consolidated after July 1st of this year to secure the new low rate.

Supplemental loans are used to bridge the gap between Stafford loan limits and the cost of attendance. These loans could be in the form of private loans or Federal Graduate PLUS loans.

This program is a loan forgiveness opportunity for those who hold public service jobs for 10 years or more. To take advantage of this opportunity, loans must be with the Direct Loan Program and 120 payments must be made.

The following are the most common federal loans that are eligible for the Federal Consolidation Loan Program: Subsidized and Unsubsidized Stafford Loans, PLUS Loans and Graduate PLUS Loans, Federal Consolidation Loans, Federal Perkins Loans, Health Professional Student Loans. More information about federal consolidation eligibility can be found at: http://studentaid.ed.gov/PORTALSWebApp/
students/english/consolidation.jsp

This is a new loan forgiveness program that provides forgiveness of federal loans after 120 loan payments (10 years) in the Direct Loan Program while the borrower works in public service. Details for the program can be found here: http://studentaid.ed.gov/students/attachments/
siteresources/LoanForgivenessMarch18.pdf

This term is used to describe loans that students use to make up the difference between Stafford loan limits and the cost of attendance. Graduate students often use private loans and/or Graduate PLUS loans for this purpose.

The expected interest rate offered on the private consolidation loan based on information you have provided and your credit profile. This conditional rate is provided to you during the application process.