By helping you decide which of the repayment options to choose once youve consolidated your loan under the federal loan consolidation program. Will i only have one consolidation loan. Once your loan has been funded you will receive a federal loan consolidation disclosure statement and repayment schedule from the servicer of your new consolidation loan. Eligible loans may be added to your federal consolidation loan within days of the date that the consolidation loan was funded. There are disadvantages to a consolidation loan as well. Authorized by the federal government federal loan consolidation is a debt management program offered under the federal family education loan ffel program.
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