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Loan Consolidations


Can I consolidate my Perkins (or HPSL) Loan?

Yes, you have the option and it is possible to consolidate a Federal Perkins Loan or HPSL Loan into a Direct Consolidation Loan. You would need to contact the consolidation company to let them know about your loan with us, and to ask them what’s needed from you in order to get it consolidated. It’s important to keep your loan current with us, until the consolidation process is complete. Normally, it’s a 1-2 month process. To learn more or get started, click on the link at the bottom of this page.

Why wasn’t my Perkins (or HPSL) Loan consolidated back when I consolidated all of my other loans?

You may have forgotten to specifically list our loan when you originally consolidated. The HPSL and Perkins Loans are completely separate from all of your other loans. No problem. Just contact the loan servicer and ask them to add this loan to it. If you can’t keep the loan current here, until it’s consolidated, just give us a call (209-946-2446) to review an option of a temporary repayment plan, or to review any forbearance or deferment options.

Can I consolidate my Student Note or University Loan?

Yes, there are options for consolidating private education loans. When evaluating a private consolidation loan or refinance, ask whether the interest rate is fixed or variable, whether there are any fees, and whether there are prepayment penalties. Generally, you should not consolidate your federal student loans together with your private education loans, since the federal consolidation loans offer better benefits and lower interest rates. To learn more, click on the link at the bottom of this page.


You should carefully weigh the advantages and disadvantages of including a Perkins Loan in a consolidation loan. While you gain the benefits of a Consolidation Loan Program, you’d also lose any benefits associated with the Perkins Loan Program.

We recommend that you consider the following points prior to making a decision:

  • You may qualify for cancellation of some or all of your Perkins Loans in exchange for performing certain kinds of public service. These cancellation benefits would be lost or changed, when a Perkins Loan is included in a Direct Consolidation Loan. For instance, the Consolidation Loan may not have cancellation provisions for VISTA and Peace Corps volunteers, teachers at low-income elementary or secondary schools, or for full-time nurses, medical technicians, and law enforcement/corrections officers.
  • Bear in mind that you’ll lose any forbearance and deferment options on your Perkins (or other) loan, if consolidated. However, the new consolidated loan may have similar or different benefits.
  • Perkins Loans have a grace period of 6-9 months. When a Perkins Loan is consolidated, any remaining grace period is lost.
  • In most cases, interest does not accrue when a Perkins (or other) Loan is placed into a deferment. A Perkins (or other) Loan may be included in the unsubsidized portion of a Direct Consolidation Loan, and borrowers would most likely be responsible for interest that accrues on the unsubsidized portion of a Direct Consolidation Loan during deferment periods.
  • Perkins (or other) Loans generally have lower interest rates, but have less flexible repayment periods of up to 10 years and the monthly payment is fixed for the life of the loan.
  • Some may be concerned that they will “lose” the lower interest rate if they include a Perkins (or other) Loan in a Consolidation Loan. The interest rate on a Consolidation Loan is normally the weighted average of the interest rates on the prior loans, so there may not be a significant difference in the amount of interest you’d pay before and after it’s consolidated.
  • Because Consolidation Loans may have repayment periods as long as 30 years, your monthly payment amount on the Perkins (or other) Loan portion of your loan may be less than what you were previously paying on the old loan. However, remember that extending the repayment period usually increases the total amount of interest that you’ll be paying on the loan.



  • You’re not required to consolidate your student loans (Stafford, PLUS, Perkins, Health Professions Loans, and older SFA loans). It’s completely optional. However, if you exclude a defaulted loan from consolidation, you may have to make satisfactory arrangements to repay the defaulted loan.
  • You NEVER need to pay a company to help you to consolidate any of your loan(s). You can complete the consolidation process yourself. BEWARE of many scams - by phone, online, mail, text, message, or e-mail!!!!



To view all of your title IV loans and grants (but not your private or HPSL loans), click here:

For more information to consolidate your federal student loans, click here:

For more information to consolidate your private education loans, click here:

Questions or can't pay or to review options:

Student Loan Department (209) 946-2446

Hours: Mon-Fri from 8:30 a.m. to 5:00 p.m., PST

To make a payment on your loan:

Login help or phone payment? Call 888-549-3274