There are some circumstances when an existing consolidation loan can be consolidated into a Direct Consolidation Loan.This is called “reconsolidation.”For example, an eligible federal student loan can be added to an already existing Direct Consolidation Loan within 180 days after the date the consolidation loan was made.In many cases, this will make it easier to manage your debt.Another benefit to consolidation is that the monthly payment on a Direct Consolidation Loan may be less than the combined payments that were previously due each month on the individual loans that were consolidated.You then went back to school, took out new student loans, and received an in-school deferment on your previous loans that had had entered into the repayment period.You can apply for a Direct Consolidation Loan for the loans that are in an in-school deferment status.
After submitting an application, contact the consolidation servicer. Ford Federal Direct Loan Program, it’s possible to combine one or more federal student loans into one new loan.You have to include at least one Direct Loan or Federal Family Education Loan (FFEL) program loan that is in a or a repayment period (including loans that are in a forbearance or deferment) in the consolidation to qualify for a Direct Consolidation Loan.(Other types of eligible federal student loans can be consolidated as well, so long as they’re combined with at least one Direct Loan or FFEL program loan.) Loans that are in an in-school status are not eligible to be included in a Direct Consolidation Loan Almost all federal student loans can be consolidated under the Direct Consolidation Loan program.Of course, there are also downsides to consolidation.For example, consolidating certain federal student loans could cause the loss of certain benefits, such as reduced interest rates or repayment incentive programs that are available under the loans being consolidated.There is no fee to consolidate federal student loans into a Direct Consolidation Loan.