Federal Student Loan Consolidation

There are many potential benefits associated with consolidating your federal student loans.  Oftentimes, if your federal student loans are in default, consolidation will cure the default and help you get back on track with your payments, and avoid negative consequences, such as administrative wage garnishment, federal tax offsets and federal student loan lawsuits.  Other benefits of consolidation include:

  • Your loan repayment is simplified by centralizing your loans to one bill
  • Your monthly payments may be lower, giving you up to 30 years to repay your loans
  • You may have access to alternative repayment plans that you would not have had before
  • You will be able to switch your variable interest rate loans to a fixed interest rate

However, not all federal student loan situations are the same.  In some circumstances, consolidation is not advantageous, and could result in losing certain benefits offered with the original loans.  Plus, if you consolidate certain loans with other certain loans (such as Parent PLUS loans), you may be limiting your repayment options with the new consolidated loans.

Consolidation of federal student loans involves filling out documents, including a new promissory note, which results in a new Direct Consolidation Loan with the federal government.  There are many nuances involved and strategic decisions to make if you are considering consolidating your federal student loans.  If you have questions about your student loan debt and you would like to schedule a no-cost consultation to discuss your options, please contact our office by completing the form on this website or by calling us at 954-920-5355.


Leiderman Shelomith Alexander + Somodevilla, PLLC

Fort Lauderdale

2699 Stirling Road, Suite C401
Fort Lauderdale, FL 33312

T. 954-920-5355 | F. 954-920-5371


2 South Biscayne Blvd, Suite 2300
Miami, FL 33131

T. 305-894-6163 | F. 305-503-9447

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