1. Module Number 5 Federal Consolidation Miller School of Medicine
Paul S. Garrard
Founder and President, PGPresents, LLC
Independent Student Loan Consulting
September 2017
2017 PGPresents, LLC - All Rights Reserved

2. Federal consolidation
Paying off multiple federal loans with new federal loan
Many recent graduates are not candidates for federal consolidation
Only one option, federal government’s Direct Consolidation Loan program
Online application at
You can choose loan servicer
Tips on Consolidation on our home page,

3. Pros and cons Advantages Convenience of one loan servicer
Converts non-Direct Loans into Direct Loans*
May extend repayment up to 30 years
* May help maximize forgiveness amount under PSLF * Only Direct Loans may be repaid with PAYE or REPAYE

4. Pros and cons Disadvantages Partially negates aggressive repayment
Slightly higher rate
Loss of grace periods if consolidate too early
Perkins and LDS converted to unsubsidized
* May help maximize forgiveness amount under PSLF * Only Direct Loans may be repaid with PAYE or REPAYE

5. Should you consolidate
You may be a candidate if
You have multiple loan servicers
You have some non-Direct Loans and are interested in PAYE or REPAYE, or PSLF
You need to extend repayment term
You may not be a candidate
You already have one loan servicer
Your entire portfolio is Direct Loans
You are interested in aggressive repayment

6. PGPresents, LLC Independent Student Loan Consulting www.PGPresents.com
END OF MODULE FIVE
PGPresents, LLC
Independent Student Loan Consulting
2017 PGPresents, LLC - All Rights Reserved