Student Loan Consolidation information Student Loan Consolidation - Did you know that holding Federal Direct Student Loans such as the Direct Stafford Loan and Direct PLUS Loan means you are more likely to be approved for student loan consolidation than holding any other kind of loan? Consolidation can significantly reduce your monthly payment burden. That’s because student loan consolidation allows you to stretch your repayment period from the standard 10 years to up to 30 years, depending on the amount of your education debts. The lower payment means you’ll have more money available to meet other household expenses, including car payments, childcare, and career-related necessities.