ERIC Number: ED443360
Record Type: Non-Journal
Publication Date: 2000
Reference Count: N/A
Direct Consolidation Loan Guide for Schools.
Department of Education, Washington, DC.
This guide is intended to help educational institutions counsel students and parents about consolidation of federal education loans for borrowers in repayment, borrowers in default, and borrowers who are still in school. Through consolidation, borrowers may combine various types of federal education loans, including direct loans and loans made through the Federal Family Education Loan program. Consolidation may also extend repayment periods, lower interest rates, and eliminate the need to deal with multiple lenders. Following the introduction which covers the basics of loan consolidation, advantages of loan consolidation, eligible and ineligible loans, loan categories, and interest rates, other sections of the document cover the following topics: (1) borrower eligibility; (2) rehabilitation vs. consolidation; (3) how consolidation works; (4) repayment; (5) postponing repayment; (6) default on a direct consolidation loan; (7) discharge of a direct consolidation loan; (8) consolidation of health professions loans; (9) how to reach the direct loan program; (10) consolidation materials and publications; and (11) a request for comments about the guide. (RH)
Descriptors: Educational Finance, Federal Aid, Federal Programs, Higher Education, Loan Default, Loan Repayment, Need Analysis (Student Financial Aid), Student Loan Programs
U.S. Department of Education, Loan Origination Center, Electronic Data Systems, 231 Northeast Bypass, Warehouse #3, Bays 1-4, Montgomery, Alabama 36117.
Publication Type: Guides - Non-Classroom
Education Level: N/A
Authoring Institution: Department of Education, Washington, DC.
Identifiers - Laws, Policies, & Programs: Family Education Loan Program; Federal Direct Student Loan Program