Loan Consolidation

Loan consolidation combines several student or parent loans into one with a single loan servicer. Loan consolidation can provide a lower interest rate for the life of the consolidated loans, a lower monthly payment, and the simplicity of having one bill with one servicer. Consolidation loans are available for most federal loans, including:

  • Direct Loans
  • FFELP (Stafford, Parent and Graduate PLUS, and SLS)
  • FISL
  • Perkins
  • Health Professional Student Loans
  • NSL
  • HEAL
  • Guaranteed Student Loans

Some lenders offer consolidation loans for private loans as well. Each loan you wish to consolidate must be in repayment status (i.e. not in an in-school status) to be included. We recommend that students consult with their current lenders or loan servicers to receive up-to-date information on available consolidation options.

The USF Financial Aid Office has counselors available to answer general questions about loan consolidation. Contact One Stop to learn more. You may also find helpful information from the Federal Student Loans web site and from ECMC, a national guaranty agency.