Consolidation loans let you combine all of your federal student loans into a single loan with one lender, one monthly payment and a fixed interest rate. Most federal loans that are in your name can be consolidated.

With the recently enacted Health Care and Education Affordability Reconciliation Act of 2010 (H.R. 4872), the Federal Family Educational Loan (FFEL) Program has been eliminated. Private lenders, like Unison Credit Union, no longer have a role in originating or funding federal Stafford, PLUS or Consolidation loans. Beginning July 1, 2010 all new federal student loans will be issued via the William D. Ford Direct Loan Program. Contact your school’s financial aid office for more information.

For questions or service related to an existing FFEL Loan secured through Unison Credit Union, contact our chosen servicer, Great Lakes at 1-800-236-4300, or at www.mygreatlakes.org.

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