• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • College Financial Aid
    • Financial Aid for College
    • Student Financial Aid Eligibility
    • Student Financial Aid
      • Student Loans for College
      • College Financial Aid 101
      • Need Based Student Loans
      • Financial Aid Forms (FAFSA & College Board’s Profile)
      • Military Student Financial Aid
        • College Benefits for Active Duty Military
        • National Guard Education Benefits
        • College Aid for Military Reservists
        • College Aid for Military Veterans
        • Military Dependent Financial Aid
    • Financial Aid Programs
    • Paying for College
  • Scholarships 101
    • College Scholarships (Overview)
    • College Scholarship Applications
    • College Scholarship Essay Writing Tips
    • Unusual Scholarships
    • Unclaimed Scholarships
    • Free College Scholarship Searches
  • Find a Scholarship
    • Latest Scholarship Postings
    • Student Scholarships by College Major
    • Scholarships for Hobbies and Interests
    • Sports Scholarships
    • Community Service Scholarships
    • Association Sponsored Scholarships
  • Find a Student Loan
    • Private Student Loans
      • Sallie Mae Student Loans
      • PNC Student Loans
      • Charter One Student Loan
      • Wells Fargo College Loan Programs
      • Texas Dow Employees Credit Union Loans
      • SunTrust Education Loans
    • How Do Student Loans Work?
    • Types of Private Student Loans
    • Student Loans to Cover Living Expenses
    • Private Student Loan Interest Rates
    • Graduate Student Loans from Private Lenders
  • Saving for College
  • Site Map

Financial Aid Finder

Your Guide to Maximizing your College Financial Aid

Financial Aid Finder HomePage
You are here: Home / Student Loans Info / Special Student Loan Consolidation Opportunity

Special Student Loan Consolidation Opportunity

February 21, 2012 By MarkAllen

Archive News — In the wake of the growing awareness that in America student loan debit has surpassed credit card debt, the United States Department of Education is currently offering the possibility to consolidate your Federal Student Loans into a Special Direct Consolidation Loan. This offer became available in January of 2012 and ended on June 30 of 2012.

Who to Contact about this Opportunity

Actually you will not be reaching out at all. If you are eligible for this opportunity, lenders acting on the behalf of the Department of Education will be reaching out to you directly. Expect to be contacted by one of the following servicers: NelNet, SallieMae, Great Lakes, or FedLoan Servicing.

In the meantime, do not complete an application for a traditional direct consolidation loan at http://www.loanconsolidation.ed.gov/ if you meet the criteria for the special consolidation. Once you apply for the traditional consolidation, you will no longer be eligible for the special consolidation.

Eligibility Criteria

An eligible borrower will need to have

  1. at least one student loan that is currently owned by the United States Department of Education
  2. at least one loan that is currently owned by a private lender through the Federal Family Education Loan (FFEL) program
  3. loans need to be up to date, and not in default (however, payment schedules that are less than 270 days past due are able to be included)

The actual loans eligible for  consolidation under the Special Direct Consolidation Loan program are the FFEL program loans that are being serviced by private lenders.

Benefits of this Opportunity

  1. Special Consolidated Loans will maintain their original repayment schedule
  2. Borrowers will have only one bill to pay to one lender
  3. Interest rate reduction of .25%
  4. Fixed interest rates
  5. Additional possible repayment options through the Direct Loans program**

The Direct Loans program offers loan repayment options that may be able to take your current income into consideration.

For more information, you can visit this webpage.

For more detailed information on Special Direct Consolidation Loans, you can visit this webpage.

Sallie Mae Student Loans Ad

Filed Under: Student Loans Info Tagged With: college financial aid, student loan consolidation

Primary Sidebar

FinancialAidFinder Logo
Sallie Mae Student Loans Ad

Latest Scholarship Postings

Karen Randall McClain Memorial Scholarship (Deadline: November 16, 2025)

July 1, 2025 By The FinancialAidFinder Scholarship Team

Jennifer D. Hale Memorial Scholarship 2026 (Deadline: May 22, 2026)

July 1, 2025 By The FinancialAidFinder Scholarship Team

Erase.com Scholarship (Deadline: October 2, 2025)

July 1, 2025 By The FinancialAidFinder Scholarship Team

Lewis Ohana Scholarship (Deadline: November 2, 2025)

July 1, 2025 By The FinancialAidFinder Scholarship Team

More Scholarship Listings

Sallie Mae Student Loans Ad

Explore Financial Aid Finder

  • College Financial Aid
  • Saving for College
  • Military Financial Aid
  • Grants for College
  • Student Scholarships
  • Student Scholarship Search
  • Find Student Loans
  • Financial Aid Info
  • Register to Receive College Financial Aid Updates
  • About FinancialAidFinder
  • Contact Us

Tags

529 plans applying for scholarships college college financial aid college savings plan college savings plans college scholarship college scholarships college student loans college tuition community college debt distance learning education engineering scholarship essay scholarships expected family contribution FAFSA federal student loans financial aid financial aid application financial aid eligibility free money for college GI Bill grant Grants hispanic scholarships minority scholarships Pell Grant Pell Grants private student loans reduce cost of college saving for college scholarship scholarship applications scholarship essays Scholarships scholarships for college student financial aid student loan student loan consolidation student loan debt Student Loans Info tuition work study

Footer

About FinancialAidFinder
Contact Us
Privacy Policy
Cookie Policy

Scholarship Submissions

If you offer a college scholarship, you can submit it to us through this form:

Scholarship Submission Form

Copyright © 2025 · FinancialAidFinder - All rights reserved.