A student loan debt consolidation loan allows you to combine your federal student loans into a single loan with only one monthly payment. The repayments of a student loan debt consolidation loan can significantly lower the payment required under the standard 10-year repayment option.

Under the Federal Family Education Loan (FFEL) Program, lender institutions provide the student loan debt consolidation loan. Under the William D. Ford Federal Direct Loan Program, the federal government obliged to provide the student loan debt consolidation loan.

Most federal education loans are eligible for inclusion in a student loan debt consolidation loan, including subsidized and unsubsidized Direct and FFEL Stafford Loans, SLS, Federal Perkins Loans, Federal Nursing Loans, and Health Education Assistance Loans. However, private education loans are not eligible for inclusion in a student loan debt consolidation loan.

To find out which loans can be included in a student loan debt consolidation loan contact the Direct Loan Origination Center's Consolidation Department if you’re applying for a direct student loan debt consolidation loan. Contact a participating FFEL lender if you’re applying for a FFEL student loan debt consolidation loan.

You are still eligible for a student loan debt consolidation loan after you graduate, leave school, or drop below half-time enrollment. You can also get a student loan debt consolidation loan while you're in school. In this case you must be attending at least half time and have at least one Direct Loan or FFEL in an ‘in-school period’ which generally means that you have been continuously enrolled at least half time since the loan was disbursed.

If the same holder holds all the FFEL loans you want to consolidate, you must obtain the student loan debt consolidation loan from that holder, unless you haven't been able to get a loan with income-sensitive repayment terms that are acceptable to you. To be eligible for a William D.

Ford direct student loan debt consolidation loan, you must have either a direct Stafford subsidized or unsubsidized loan that will be included in the student loan debt consolidation loan or have at least one Federal Family Education Loan (FFEL) program Stafford subsidized or unsubsidized loan.