Direct Loan Consolidation
- Ascendium Education Solutions guarantees Federal Family Education Loan Program (FFELP) loans.
Normally consolidating into the Direct Loan program resets any progress towards
Public Service Loan Forgiveness (PSLF).
- However, the Department of Education announced a
one-time IDR and PSLF account adjustment
to bring borrowers closer to IDR and Public Service Loan Forgiveness.
- The IDR and PSLF Account Adjustment is scheduled to end December 2023. You must consolidate into the Direct Loan program before that date to benefit.
- Direct Loans have other benefits FFELP loans do not, including access to PSLF and more generous IDR plans.
- Except for FFELP loans in default there is no fee or cost to consolidate, and you can do it
Consolidating FFELP loans out of default may add collection costs to the balance.