Consolidating private law school loans financial advice consolidating student loans
Repayment terms will vary based on the percentage you request, your income, and the total loan amount.
Pay As You Earn, Income-Based and Income-Contingent repayment options are generally over a 20 or 25 year repayment period.
However, you must not be in default on a Federal Student Loan.
Eligible for Federal Loan Consolidation Non-federal education loans such as private loans, school-based loans or loans from family members are not eligible for consolidation under the Federal Consolidation Loan program.
Private /Alternative loan repayment options may be available through private lenders, but they may not include the same benefits as the Federal Loan Consolidation program.
For additional information, contact your private loan lender.
If federal loan interest rates increase, consolidating low interest rate loans may increase overall repayment costs, and the borrower may be locked into a higher interest rate.
You can locate prior and current federal loans, including prior consolidation loans, by accessing National Student Loan Data Systems (NSLDS) at
There are two categories of education consolidation loans: federal and private.
Thirty days from the date your loan is funded, you are required to begin repayment according to that schedule. Current federal regulations state that the maximum length of the repayment term is based on the sum of the loans being consolidated, and the unpaid balance on other student loans.