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Special Consolidation for Student Loans
Special Direct Consolidation Loans
The Department of Education (the Department) is offering a short term consolidation opportunity—Special Direct Consolidation Loans—from January – June 30, 2012.
Special Direct Consolidation Loans are not the same as traditional Direct Consolidation Loans that borrowers would apply for through this Web site.
Only certain borrowers are eligible for Special Direct Consolidation Loans.
One of the Department’s federal loan servicers—FedLoan Servicing (PHEAA), Great Lakes Educational Loans Services, Inc., Nelnet, or Sallie Mae—will contact eligible borrowers starting in January 2012 about the new and different online application process for Special Direct Consolidation Loans.
Borrowers who may be eligible for a Special Direct Consolidation Loan must not apply through this Web site. Doing so will make them ineligible to participate in the special consolidation opportunity. For this reason, it is critical that potentially eligible borrowers do not take any action until they are contacted by one of the Department’s servicers listed above.