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Federal Loan Consolidation

Federal Loan Consolidation allows borrowers who have multiple federal student loans (Federal Direct Loans, Federal Stafford Loans, and/or Federal Perkins Loans) to consolidate these loans into a new Federal Direct Consolidation Loan. Borrowers determine which federal loans to include in the consolidation loan. The interest rate for the federal consolidation loan is determined by a weighted average of the interest rates for the loans being consolidated, rounded to the nearest eighth. Borrowers may extend the loan repayment period up to 30 years.

Normally, federal consolidation loans enter repayment within 60 days of consolidation. Students can maximize their use of their 6 month grace period for federal Direct Loans by entering their grace period end date on the consolidation application. This will delay the processing of their federal consolidation application. Students can determine their grace period end date by contacting their servicer.

Student Employment

The Office of Student Employment helps students find employment on campus, regardless of whether they receive Federal Work Study as part of their financial aid package. Find out more about student jobs.

Contact Us

(804) 289-8438
finaid@richmond.edu
Fax: (804) 484-1650
 
Queally Center, Suite 214
28 Westhampton Way
University of Richmond, VA 23173

Open weekdays, 8:30 a.m.–5 p.m

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