From January–June 2012, the U.S. Department of Education will give eligible borrowers the chance to consolidate certain loans through the Special Direct Consolidation Loan.
The Special Direct Consolidation Loan is not the same as the traditional Direct Consolidation Loan Program and only certain borrowers will be eligible for the Special Program.
The Special Direct Consolidation Loan is part of President Obama's plan to "Help Americans Manage Student Loan Debt" and is designed to get your federal loans to one servicer so you can better manage your payments. It is important to note that private loans will remain with their current servicer and are not eligible for the Special Direct Consolidation Loan.
We can help you manage your student loan debt, for both your federal and private loans, by combining all of your AES serviced loans onto one bill, changing your billing due date, or setting up Direct Debit, just to name a few.
You may be eligible for borrower benefits on your federal student loans. These benefits may be lost through the Special Direct Consolidation Loan if they are not earned prior to the completion of the consolidation.
Please contact us at 1-800-233-0557 to work with a Loan Counselor to determine what debt management method works best for you and to determine your benefit eligibility.
For more information regarding the Special Direct Consolidation Loan, please visit the Department of Education's website .