You are eligible to consolidate after you graduate, leave school, or drop below half-time enrollment.

One of the largest benefits of consolidating your Federal student loans is having a fixed interest rate for the life of the loan. The fixed rate is based on the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of 1%.

In many of our client’s cases, NO. Based on your current financial situation, you may not have to worry about interest at all. Remember, anything that is not paid within 300 months maximum on a repayment plan based on your income would be completely discharged and forgiven. This may allow you to pay less than what you currently owe depending on your financial situation over the life of your loan, family size and loan amount. Find out more about Income Driven Repayment Plans

Repayment of Direct Consolidation Loans can begin 60 days after the loan is disbursed, or sooner.

There are several repayment plans that are designed to meet the different needs of individual borrowers. In our experience, it is your responsibility to understand what your options are and how they will benefit or negatively impact you. This is where we come in. Learn more

Generally, your payment amount under an income driven repayment plan is a percentage of your discretionary income, and the percentage is different depending on the plan and when you took out your federal student loans.

Use our Repayment {pop up repayment calculator} Calculator to estimate your eligibility for all repayment plans, including income driven plans, give us a call at 855-378-7127 or Start now.

Income driven repayment plans have different repayment periods.

#	Income-Driven Repayment Plan	Repayment Period
1	IBR Plan for those who are not new borrowers on or after July 1, 2014	Any outstanding balance is forgiven after 25 years of qualifying repayment
2	IBR Plan for new borrowers on or after July 1, 2014	Any outstanding balance is forgiven after 20 years of qualifyingrepayment
3	Pay As You Earn Plan	Any outstanding balance is forgiven after 20 years of qualifyingrepayment
4	ICR Plan	Any outstanding balance is forgiven after 25 years of qualifying repayment

Nearly everyone we have spoken to qualifies for one of the Income Driven Repayment Plans. The reason for this is even if you make a respectable amount of income, under the ICR Plan, there is not an initial income eligibility requirement. Any borrower with eligible Federal student loans may make payments under this plan.

Yes. In order to qualify for an Income Driven Repayment plan with a Parent Plus loan you would be required to repay under the ICR Plan.

It is possible but not guaranteed. Any borrower who repays under any income driven repayment plan is required to recertify their loans annually, similar to being required to file your taxes annually. If your income increases your payment may increase for the following year. The same is true if your income decreases, your monthly payment could decrease. Whether your income increases or decreases don’t worry. Learn more about why our clients love Ongoing Support and how we help in dealing with Major Life Changes!

The Public Service Loan Forgiveness Program is intended to encourage individuals to enter and continue to work full time in public service jobs. Under this program, borrowers may qualify for forgiveness of the remaining balance of their Direct Loans after they have made 120 qualifying payments.

You must make 120 on time, full, scheduled , monthly payments on your Direct Loans. You must make those payments under an Income Driven Repayment Plan and working full time at a qualifying public service organization.

You must meet your employer’s definition of full time. However, for PSLF purposes, that definition must be at least an annual average of 30 hours per week.