Loan Consolidation
A Direct Consolidation Loan allows you to combine multiple federal student loans into one loan with one payment and a single, fixed
interest rate. If you decide to consolidate, you can choose your servicer. Good news! MOHELA can be your servicer! The entire process
typically takes between four and six weeks from the date your application is received.
Before completing a consolidation application, carefully consider the following information to determine whether loan consolidation is
the best option for you.
Advantages
Disadvantages
Ways to Apply for Consolidation
If you decide to apply to consolidation your loans, please continue to make payments until you receive notification that the consolidation
has been completed.
Adding Loans to Your Direct Consolidation Loan
You can request to add an eligible loan(s) to a new Direct Consolidation Loan within 180 days of the consolidation loan being funded
(disbursed). Search StudentAid.gov this link will open in a new window for the "Direct Consolidation Loan Request to Add Loans",
complete, and submit to:
Good to Know
Aidvantage manages the Consolidation Loan origination process on behalf of the U.S. Department of Education. After you apply for a
Consolidation Loan, or request to add loans to your new Consolidation Loan, Aidvantage will be your point of contact for any questions
you may have.
After Aidvantage processes your Consolidation Loan, they will send your new loan to MOHELA for servicing. We will send you notification
after this occurs.
MOHELA will not have any information about your Consolidation Loan application status while it is being processed. To contact Aidvantage
with questions, call 1-800-722-1300.