Types of Loans that can be consolidated under a FFELP Consolidation Loan:

Subsidized and Unsubsidized Federal Stafford Loans
Federal Perkins Loans
Health Professions Education Loans
Federal Nursing Student Loans
Federal Direct Loans (transfer students)

Variable interest rate loans disbursed prior July 1, 2006 have the lowest interest rates to consolidate after July 1, 2008.

You cannot consolidate alternative or private loans with your federal loans. However, the balances of these loans may be used to extend the repayment term of your consolidation loan. (Repayment Terms Below)

You might not want to consolidate a Federal Loan if you qualify for loan cancellation.  Click Here [External Hyperlink] for more information.

Federal PLUS loans can only be consolidated with other federal student education loans taken by the parent.  

Instructions for students to get loan information:
For Federal Loans only

1.  Go to www.nslds.ed.gov
2.  Click, Financial Aid review 
3.  Click, Accept
4.  Complete the borrower's information
5.  You will then be linked automatically with the Loan Information page.

Advantages of consolidation: 

With a consolidated loans You are able to lock in your interest rate and ask for a longer payment period to lower your monthly payments.  Even if all of your loans are with the same lender you will want to consolidate to take advantage of the fixed interest rate and the convenience of having one payment.

Once you have signed the consolidation loan promissory note, the terms will never change.

Going back to school after consolidating:

You will need to contact your lender for deferment options.  Typically, consolidation loans are put in deferment status when you are at least a half-time degree seeking student.

You can never re-consolidate your consolidation loan.  However, if you take out more federal loans you can reapply for another consolidation loan and include the first one.

SDSU cannot recommend lenders for loan consolidation, you may want to contact your current lender first for consolidation information and benefits.  If you have a direct loan or you were denied a loan consolidation please go to http://loanconsolidation.ed.gov/borrower/borrower.shtml [External Hyperlink] for more information.