Federal Student Loan Consolidation
Student Loan Consolidation from Chase Student Loans
Student loan consolidation allows you to combine all of your federal student loans into a single loan when you graduate or leave school. If you have at least $20,000 in eligible federal student loans and are in your grace or repayment period, you can qualify for student loan consolidation.
Benefits of Student Loan Consolidation
The biggest benefit of student loan consolidation is that it allows you to make one loan payment every month. You can consolidate even if you have multiple lenders and multiple types of loans.
Consolidating can potentially lower your combined monthly payment and help build your credit rating. You can also lock in a low interest rate for the life of the loan.*
A variety of flexible payment plans make it easy to find the best option for you. If you need help, a Chase student loan expert can answer your questions and assist you with your application.
Why consolidate your student loans with Chase Student Loans?
Chase Student Loans is one of the nation's leading providers of college loans, so we have the knowledge to help you make the right choice about consolidation. The federal student loan consolidation application process is quick, easy and secure, and can be done online or by phone.
You should note that consolidation extends your payments, increasing your overall financial obligation because you will be making payments (principal plus interest) for a longer period of time.
Who can benefit?
Current students - Chase Student Loans can consolidate your federal student loans when you graduate or leave school.
Recent graduates - If you've recently graduated and are in your loan grace period, you should complete the student loan consolidation process before it runs out. If you're not ready to start making payments, you can ask to delay repayment (deferment or forbearance) once you consolidate your federal student loans.
Graduate students - To free up some extra money while you're in school, you can postpone payments on your undergraduate loans. Once you graduate, Chase Student Loans can help you consolidate your undergraduate and graduate loans, so you only have one payment to make each month.
Parents - You can help your student understand the loan consolidation process and how they can benefit from it when they graduate. And if you used PLUS loans to pay for your student's education, you can consolidate these as well.
Repayment of consolidated student loans
Several repayment options are available to make your student loan consolidation as easy as possible. The repayment times range from 15 to 30 years depending on the total amount of your student loans.
Federal student loans that can be consolidated include:
- Federal Stafford Loans, unsubsidized and subsidized [including Guaranteed Student Loans (GSL)]
- Direct Stafford Loans
- Federal Supplemental Loans for Students (formerly Auxiliary Loans to Assist Students/ALAS and Student PLUS Loans)
- Federal Perkins Loans, formerly National Defense/National Direct Student Loans (NDSL)
- Health Professions Student Loans, including Loans for Disadvantaged Students (HPSL)
- Federal Insured Student Loans (FISL)
- Federal PLUS Loans (parents and graduate/professional students)
- Direct PLUS Loans
- Federal Consolidation Loans
- Direct Consolidation Loans
- Nursing Student Loans (NSL)
* You are eligible for our Federal Consolidation Loan so long as, at the time of funding, you: (1) are in your loan grace period or have entered repayment on each loan chosen for consolidation; and (2) consolidate eligible federal student loan debt meeting Chase' minimum balance requirement of $20,000. Other terms and conditions apply. Please contact us for details on eligibility criteria.
Please remember that longer repayment terms will lower your monthly payments but can increase the total repayment amount.
