Consolidating plus loans
Consolidation is final: you can’t reverse your decision at a later time, so consider your circumstances carefully before deciding.
You’re usually eligible for a consolidation loan if you stop attending school for any reason or if your enrollment drops below half-time.
And the most common way that parents borrow money to pay for college is through Parent PLUS Loans.
You may also consolidate the following types of loans: The Direct Consolidation Loan rate is fixed by the government based on the interest rates of your existing loans.
Huffington Post Reader Question Dear Steve, I have 3 daughters and have borrowed heavily using PLUS loans to finance their education.
Both old PLUS loans made under the now-defunct Federal Family Education Loan (FFEL) program and new Direct PLUS loans made either to graduate and professional students or to parents of dependent undergraduates are eligible for inclusion in a federal Direct Consolidation Loan.
But the Direct Consolidation Loan isn’t limited to PLUS loans.
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You can consolidate all, just some, or even just one of your student loans.