Consolidating to a direct loan
Most federal student loans are eligible for consolidation, including subsidized and unsubsidized Direct Loans, subsidized and unsubsidized Federal Stafford Loans, Direct PLUS Loans, Supplemental Loans for Students (SLS), Federal Nursing Loans, and Health Education Assistance Loans.
Although the Perkins Loan program came to an end in September, 2017, old Perkins Loans are still eligible for consolidation, as well.
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Borrow £500 to £10,000 with no upfront fees, no hassle, paid out in 24 hours. Representative Example: The Representative APR is 48.9% (fixed) so if you borrow £3,000 over 3 years at a rate of 10% p.a. you will repay £145.17 per month & £5,226.12 in total. Representative Example: The representative rate is 49.9% APR (variable) so if you borrow £4,000 over 3 years at a rate of 41.2% p.a (fixed) you will repay 36 monthly payments of £195.25. Please only apply if you are aged 18 to 65, employed or self employed with a income of more than £800 a month. Representative Example: The representative rate is 50.13% APR (variable) so if you borrow £4,000 over 36 months at a rate of 30.60% p.a (fixed) plus an acceptance fee of £400 (10% of loan) and an administration fee of £390, you will repay £195.55 per month & £7,040.00 in total.This isn’t a solution that works well for everyone (even if you do have several different loans to manage).Consolidation doesn’t always result in a lower interest rate, plus lower monthly payments usually means paying the loan over a longer period of time and spending more on interest.Each of these loans likely comes with different terms, payments, servicers, and statements.The sheer amount of information and numbers can be difficult to track.