President Joe Biden delivers remarks on student loan debt at Madison College, Monday, April 8, 2024, in Madison, Wis. Borrowers with some types of federal student loans have until today to consolidate their loans to qualify for full student loan cancellation or credit toward cancellation. The Education Department is expected to conduct a one-time adjustment in the summer but borrowers who want to be considered for the adjustment have to submit a request to consolidate their loans by Tuesday.
Here's what you need to know:Borrowers with these types of loans must consolidate first to take advantage of this one-time adjustment:If you have multiple federal student loans, you can combine them into one loan with fixed interest. If you decide to consolidate your loans into a Direct Consolidation Loan, you can do so for free. Once you have consolidated your loans, you will have one monthly payment instead of multiple payments a month.You can apply to consolidate your loans at studentaid.
Source: Education Headlines (educationheadlines.net)
Consolidate Loans Adjustment Deadline Education Department Cancellation Borrowers
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