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Student Loan Reform

On Oct. 25, 2011, the Obama Administration announced several steps to increase college affordability by making it easier to manage student loan debt. One initiative is a short-term consolidation opportunity offered through the U.S. Department of Education.

This Special Direct Consolidation Loan program is not the same as the traditional consolidation loan program offered under the William D. Ford Federal Direct Loan program. With the this loan program, certain borrowers will be eligible for Special Direct Consolidation Loans, and eligible borrowers will apply through a different online process. In addition, Special Direct Consolidation Loans will only be available from January through June 30, 2012. Learn more about the Special Direct Consolidation Loan program