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Once you sign in to Student using your personal identifiers and Federal Student Aid PIN, you will be able to electronically complete the Federal Direct Consolidation Loan Application and Promissory Note. The electronic application on Student consists of the following five steps: 1. However, once you move federal loans out of Department of Education programs (and into a private program), you’ll give up the benefits that come with federal student loans — your loans will become those benefits, but you should at least know what’s at stake.
Maximum Loan Length: 10-30 years Frequency of Payments: Varies Prepayment penalties: None Fees: None You apply for a Direct Consolidation Loan through Student When you apply, you can choose one of the listed federal loan servicers—including Great Lakes—to complete the consolidation and then service your Direct Consolidation loan. For loans consolidated and serviced by Great Lakes, you'll receive your first communications from us within one-to-two business days after submitting your online application.