For example, under the Public Service Loan Forgiveness Program (PSLFP), your Direct Loan balance may be eligible for forgiveness after 120 payments if you’ve worked in the public sector that entire time.Similarly, the Teacher Loan Forgiveness Program is available for teachers who work in schools that serve low-income families full-time for five consecutive years.
If you have questions about consolidating your federal education loans before you apply, you can also contact the Loan Consolidation Information Call Center at 1-800-557-7392.
If you prefer, you may complete an electronic version of the Federal Direct Consolidation Loan Application and Promissory Note by signing in to Student
You will use the Income-Driven Repayment Plan Request form to choose the PAYE, REPAYE, IBR, or ICR repayment plan.
You should understand the details of the available repayment plans before you make a selection.
If you want to proceed with completing a paper version of the Federal Direct Consolidation Loan Application and Promissory Note, you will use the documents below.
After downloading, printing, and completing the documents you need, you will mail your application package to the consolidation servicer you choose.
Read the other posts in the series here—and get all the info you need to make intelligent decisions about your student loans.
And while you’re at it, check out So Fi’s new Student Loan Debt Navigator tool to assess your student loan repayment options. With prevailing interest rates at historic lows, some private lenders offer rates that are significantly better than a high-rate federal loan.
If your current servicer is listed, you may choose to keep your current servicer for your new Direct Consolidation Loan, or you may choose a different servicer.