Private education loans are not eligible for consolidation.
While loan consolidation can simplify loan repayment and lower your monthly payment, it also can significantly increase the total cost of repaying your loans. You may lose those benefits if you consolidate.Once your loans are combined into a Direct Consolidation Loan, they cannot be removed. All new Stafford, PLUS, and Consolidation Loans will come directly from the U.S. Department of Education under the Direct Loan Program.When can I consolidate my loans?Generally, you are eligible to consolidate after you graduate, leave school, or drop below half-time enrollment.What are the requirements to consolidate a loan?To qualify for a Direct Consolidation Loan: * You must have at least one Direct Loan or Federal Family Education Loan (FFEL) that is in grace or repayment.