Federal Student Loan Consolidation Program

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US Student Resource Center


Student Loan Consolidation Program

The US's Federal financial aid programs

The federal government is the biggest provider of financial aid. Actually, the federal government gives 75% of total available student aid, according to the College Board.

The biggest and most known federal student aid programs are:

  • Federal Perkins Loans
  • Federal Pell Grants
  • Federal Supplemental Educational Opportunity Grants (FSEOG)
  • Federal Parent Loan for Undergraduate Students (PLUS) Loans
  • Federal Stafford Loans
  • Federal Work-Study Program

Federal student loan consolidation

One peculiarity in the contributions by the US Department of Education is the federal student loan consolidation program. Different other forms of federal student loans, federal student loan consolidation is a loan issued after the graduation of the student , with the propose of extending the repayment term of federal student loans. Despite the fact that this is more costly for students in the long term, initially it saves them money by making smaller the monthly payment size, what is essential for students who are unable to meet considerable financial responsibilities right after finishing school.

For instance, a student with twenty five thousand dollars in federal student loans at 3.375 percent would have a payment around two hundred forty five a month for 10 years before consolidation, and an projected payment of one hundred forty three dollars a month over twenty years after consolidating.

The privileges of regular federal student loans are retained by the Federal Consolidation loans, like the power to cancel payment for up to thirty six months due to economic adversity, or postpone payment if the student starts studding again.


Reimbursement terms are governed by the total amount owed. Typically, this is:

Fifteen years for $0-$20,000
Twenty years for $20,000-$40,000
Twenty Five years for $40,000-$60,000
Thirty years for $60,000+

Reimbursement rates are calculated on the presented student loan rates at time of application. Students can find out their loan information using the US Department of Education National Student Loan Database System (NSLDS). Federal Student loan rates are set each July for the next year supported on the sale price of the 91-day Treasury Bill in the May's last auction.


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