This is a Stafford or PLUS loan issued with funds from Sallie Mae but backed by the federal government. You can only consolidate Sallie Mae loans issued through the FFEL program into a Direct loan.This is because the federal government only consolidates federal loans, not private loans.
If you select this option, you won’t have to begin making payments on your new Direct Consolidation Loan until closer to the end of the grace period on your current loans.
Top Borrowers have different needs, so there are several repayment plans—including income-driven repayment plans, which base your monthly payment amount on your income and family size.
Once your loans are combined into a Direct Consolidation Loan, they cannot be removed.
If you want to lower your monthly payment amount but are concerned about the impact of loan consolidation, you might want to consider deferment or forbearance as options for short-term payment relief, or consider switching to an income-driven repayment plan.
Whom do I contact if I have questions about consolidation?