On July 1, Generation Debt got some good news: New rules came into effect making college and graduate school loan repayment much more affordable for a wide range of people.
The idea behind the rules, applauded by student advocates, is to make our higher education system more equitable by helping those who graduate, play by the rules, and meet their obligations to repay the cost of their education.
One question that appeared in the comments: can you get a direct consolidation loan if you already have a lenders' consolidation loan?
According to the fed's web site FAQ section, the answer is YES if you specifically intend to apply for the Public Service Loan Repayment program and can show that you are eligible.
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