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Financial Aid 101

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Federal Direct Consolidation Loan

What kinds of loans can be consolidated?

Loans eligible for consolidation include FFELP Stafford (subsidized and unsubsidized) and PLUS Loans, Federal Perkins Loans, all Federal Direct Loans, and other loans such as Federal SLS, ALAS, HEAL and Health Education Assistance Loans. You may also be able to combine previously consolidated loans with one or more additional loans. Note that private education loans are not eligible for consolidation and that a PLUS Loan cannot be transferred from the parent to the student through consolidation.

There are three types of Direct Consolidation Loan you (or your parents) may apply for:

  1. Direct Subsidized Consolidation Loan -- combines federal student loans eligible for interest subsidies, such as subsidized FFELP and Direct Loans, and Federal Perkins Loans.
  2. Direct Unsubsidized Consolidation Loan -- combines federal student loans not eligible for interest subsidies. If any one of the loans to be consolidated is unsubsidized, then you will receive an Unsubsidized Direct Consolidation Loan.
  3. Direct PLUS Consolidation Loan -- combines FFELP PLUS and Direct PLUS loans.

When should I consolidate my loans?

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The City University of New York

Borough of Manhattan Community College
The City University of New York
199 Chambers Street, New York, NY 10007
212-220-8000 | Directory

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