Federal Student Loan Consolidation
Effective Friday, Feb. 29, 2008, at 4:30 p.m. (CST), Iowa Student Loan has suspended its Federal Student Loan Consolidation program.
If you are interested in lower monthly payments, other options are available, including:
- Federal Stafford and PLUS Loans may qualify for the graduated repayment plan. This plan allows you to make lower monthly payments now that will gradually increase in amount throughout the repayment period.
- If your Federal Stafford or PLUS Loans total $30,000 or more and the loans were first disbursed on or after Oct. 7, 1998, you may be eligible for the extended repayment plan. This plan will allow you to extend your loan repayment term up to 25 years and lower your monthly payment.
- If you are unable to make your monthly payment, deferment or forbearance options may be available.
If you need to lower your monthly payments, call (800) 243-7552 to speak with a loan counselor and find out what options may be best for you.