With the passage of the Higher Education Act compromise of 2005, has eliminated the provision allowing enter repayment status upon approval of the lender, FFEL or Direct Loan borrower who is still studying with a dedication by least half time. Under the new definition of "being in repayment status, enter a loan in this state six months and one day after the date the student ceases to attend at least half of a normal academic load of full-time as determined by the school. Therefore, the FFEL or Direct Loan borrower who still pursue studies with a commitment of at least half-time and can not enter repayment status early in order to apply for a FFEL or Direct Loan Consolidation.The "weighted average" and the calculation of the student loan consolidation rates :The interest rate on consolidation loans is fixed and is calculated from the weighted average student loan interest rates on loans with balances are consolidated. The lender may assign the student loan consolidation rates lower than permitted by law, using the lower of weighted averages calculated from the date of July 1 or the date you received the request for consolidation. To this end, the lender has to use a uniform and systematic method of determining the date of receipt of the request.

Return of Student loan consolidation rates will begin within 60 days from the disbursement of funds. The repayment period will range from 10 to 30 years, depending on the amount of debt owed and the repayment plan for which is chosen.All payment plans offered through the FFEL Program are available to the borrower who has a FFEL Consolidation Loan. Those who have a Direct Consolidation Loan will also provide the bulk of the payment plans of the Direct Loan Program, except for those that have a Direct Loan Consolidation PLUS.

Although it easier debt repayment on student loan consolidation rates and are more comfortable monthly premiums that are paid, it must be borne in mind that consolidation may significantly increase the total amount that the borrower will end up paying. The consolidation has the potential to reduce the amount of monthly fees because the borrower to have 30 years to repay their debt at the end of which will have more shares and pay more interest.