Can I consolidate a Perkins loan?

For complete information, visit www.loanconsolidation.ed.gov.

Yes, it is possible to consolidate Perkins Loans into a Direct Consolidation Loan if you include at least one Direct Loan or Federal Family Education Loan (FFEL) in your request. Perkins Loans cannot be included in a Direct Consolidation Loan by themselves.

You should carefully weigh the advantages and disadvantages of including a Perkins Loan into a consolidation. Once a Perkins Loan is consolidated, it becomes a new Direct Consolidation Loan. While you gain the benefits of the Direct Consolidation Loan Program, you also lose the benefits associated with the Perkins Loan Program.

We recommend that you review the benefit comparison charts and consider the following points prior to making a decision:

• Perkins Loans are eligible for additional cancellation benefits, such as performing certain kinds of public service. This benefit is lost when a Perkins Loan is included in a Direct Consolidation Loan.
• Perkins Loans have a grace period of nine months.
• Perkins Loans generally have a lower interest rate but have a less flexible repayment period of ten years.