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April 30, 2024 at 12:32 PM. NEW YORK (AP) — Borrowers with some types of federal student loans have until today to consolidate their loans to qualify for full student loan cancellation or credit ...
Consolidating student loans is a smart step for many federal borrowers; here are a few of the advantages: Potentially lower monthly payments: Direct Consolidation Loans have a repayment timeline ...
The Federal Student Aid Information Center can be reached at 1-800-433-3243. This article originally appeared on Austin American-Statesman: Deadline to consolidate loans for student loan ...
The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ... rather than a bank or other financial institution." [1]
History. The Federal Loan Consolidation Program was created in 1986. In 1998, the United States Congress changed the interest rate to the aforementioned fixed rate weighted mean, effective February 1, 1999. Consolidation loans taken out before that date had a variable interest rate, determined by the individual FDLP loan origination center (e.g ...
The bottom line. If you have bad credit, you may be motivated to refinance your student loans to lower monthly payments. However, many lenders require a minimum credit score in the mid-to-high ...
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