Consolidation is refinancing all of your federal student loans into one loan. This new loan will have a new interest rate, payment terms and monthly payments. The following federal student loans are eligible for consolidation: Federal Stafford loans, Federal Direct loans, Federal PLUS loans, Federal SLS loans, Federal Perkins loans, Health Professional Student loans (HPSL) and Nursing School loans (NSL).
The payment terms of a consolidation loan can make repayment of your student loans much easier financially and much less confusing since you will not have to keep up with several different lenders. However, some of the benefits available in the original student loan may be lost after consolidation. Discuss your options thoroughly with your lender.
To apply for a consolidation loan, review the information on the website below.
Contact Perkins/NDSL & Nurse Faculty Loan Program (NFLP) Services
Main Building, Room 4
The University of Texas at Austin
Perkins and NFLP Loan Services Main 4
110 Inner Campus Dr Stop K5308
Austin, Texas 78712-1669