Government Student Loan Consolidation. The federal government offers a student loan consolidation program. This is a way for students who have graduated to lessen their monthly payments by taking all of their student loans and combining them into a single longer term loan. This actually results in an increase in the total cost of the loan, but can significantly ease the burden on a student during the first few years of employment.
Like other federal student loans, this program allows the student to defer payment for up to three years in the case of a financial or economic hardship or if they return to school for advanced studies.
To apply for this loan, fill out the Federal Consolidation Master Promissory Note request Click Here.
You can determine your loan information using the US Department of Education National Student Loan Database System (NSLDS) Government Student Loan Consolidation