An Overview of Student Loan Debt Consolidation A student loan debt consolidation loan allows you to combineyour federal student loans into a single loan with one monthlypayment. The repayments of a student loan debt consolidationloan can be significantly lower than the payment required underthe standard 10-year repayment option. Under the Federal FamilyEducation Loan (FFEL) Program, banks, secondary markets, creditunions, and other lenders provide the student loan debtconsolidation loan. Under the William D. Ford Federal DirectLoan (Direct Loan) Program, the federal government provides thestudent loan debt consolidation loan.
Most federal education loans are eligible for inclusion in astudent loan debt consolidation loan, including subsidized andunsubsidized Direct and FFEL Stafford Loans, SLS, FederalPerkins Loans, Federal Nursing Loans, and Health EducationAssistance Loans. However, private education loans are noteligible for inclusion in a student loan debt consolidationloan.
To find out which loans can be included in a student loan debtconsolidation loan contact the Direct Loan Origination Center'sConsolidation Department if you're applying for a direct studentloan debt consolidation loan. Contact a participating FFELlender if you're applying for a FFEL student loan debtconsolidation loan.
It is worth noting that you are still eligible for a studentloan debt consolidation loan after you graduate, leave school,or drop
below half-time enrollment. You can also get a studentloan debt consolidation loan while you're in school. You must,however, be attending at least half time and have at least oneDirect Loan or FFEL in an 'in-school period' which generallymeans that you have been continuously enrolled at least halftime since the loan was disbursed. There are a number ofconditions that need to be met for you to qualify for a studentloan debt consolidation loan, especially if you are delinquentor in default and your loan holder will be able to give you allthe necessary information.
If the same holder holds all the FFEL loans you want toconsolidate, you must obtain the student loan debt consolidationloan from that holder, unless you haven't been able to get aloan with income-sensitive repayment terms that are acceptableto you. To be eligible for a William D. Ford direct student loandebt consolidation loan, you must have either a direct Staffordsubsidized or unsubsidized loan that will be included in thestudent loan debt consolidation loan or have at least oneFederal Family Education Loan (FFEL) program Stafford subsidizedor unsubsidized loan.
Get out of debt - debthelp and relief guide.About the author:
Angela Rogers is the editor for http://www.debt-helper.info -Your guide to
debt helpand debt consolidation. 
