Student Loan Deadline for Consolidation
April 30 is fast approaching, the deadline for student loan consolidation.
Key Points:
- The U.S. Department of Education has established April 30th as the deadline to consolidate student loans.
- The list of qualifying student loans can be seen below.
With the April 30 deadline to consolidate student loans, visit your loan servicer’s website or the Federal Student Aid website to confirm if you have loans that qualify for consolidation.
You have several options to contact the Federal Student Aid Website. Their hours of operation are Monday through Friday, from 8 a.m.–10 p.m. Eastern time (EST). They are even available on Saturdays from 11 a.m.–5 p.m. EST. But are closed on Sundays and all federal holidays.
To contact FSA by phone, 1-800-433-3243. You can also contact them by email. I’ve used the chat feature where the wait times are short, and I had all my questions answered.
Why You Should Consolidate Your Student Loans
- The convenience of one monthly payment, plus your monthly payment, can be lower because of access to additional income-driven repayment plans.
- Eliminate variable interest rates to one fixed rate, making it easier to budget yourself.
What You Need to Apply for Student Loan Consolidation
- A Verified FSA ID
- Your Personal Details
- Your Financial Information
- Additional Loan Information
Which Loans Can Be Consolidated
- Subsidized Federal Stafford Loans from the Federal Family Education Loan (FFEL) Program
- Unsubsidized and Nonsubsidized Federal Stafford (FFEL) Loans
- FFEL PLUS loans
- Supplemental Loans for Students
- Federal Perkins Loans
- Nursing Student Loans
- Nurse Faculty Loans
- Health Education Assistance Loans
- Health Professions Student Loans
- Loans for Disadvantaged Students
- Direct Subsidized and Unsubsidized Loans
- Direct PLUS Loans
- FFEL Consolidation Loans and Direct Consolidation Loans (only under certain conditions)
- Federal Insured Student Loans
- Guaranteed Student Loans
- National Direct Student Loans
- National Defense Student Loans
- Parent Loans for Undergraduate Students
- Auxiliary Loans to Assist Students
- Private education loans are not eligible for consolidation.
Direct PLUS Loans by parents to help pay for their children’s education cannot be consolidated with federal student loans received by the student.
For more information, make sure to review the Federal Student Aid website.
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Please note the information on this site does not constitute legal advice and should be considered for informational purposes only.
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