Eligibility Requirements:

Eligibility requirements program, iia eligibility requirements

So you think that the burden of many student loans is too much for you and you need to get student loan consolidation. You need to get more peace of mind, and it is very hard to manage all the loans separately. Student loan consolidation is the right choice for you. It is very helpful and is used to combine numerous loans in to one single loan, so also the hassle of many administrative fees is reduced. Not to mention the lower rates of interest and peace of mind.

There are certain eligibility criteria to get student loan consolidation, they are as follows:

1. To qualify for the student loan consolidation program you must have one government loan (that is either federal or direct loan) which is in repayment period. School status loans cannot be considered for direct loan consolidation.
2. Borrowers can consolidate almost all types of loans, given that they are able to make satisfactory payment arrangements. They can also agree to repay the direct loan consolidation using ICS (Income Contingent Repayment plan)
3. If you do not have direct loan payment option you can still be eligible for direct loan consolidation if:
• They include at least one FFEL loan.
• They have been unable to get loan with income sensitive repayment.
• They have applies for the loan forgiveness under Public service loan forgiveness program.

4. Borrowers who have only direct consolidation loan cannot consolidate unless they have an additional loan which they need to include.

These are the eligibility criteria needed to get student loan consolidation so make sure that you are eligible for the same.