Loan Consolidation Application Tutorial
Review & Sign
The review and sign page will provide a summary of the information you entered. You’ll see all the loans that you included on the application, the total balance, the interest rate, your new servicer, whether or not you selected a grace period 1, the answers to your questions about dependents 2, marital status, and employment. You’ll also be able to review your other application information, which repayment plan you selected 3, your income information 4, and your borrower and reference information 5.
If you make an edit at this point, you’ll be taken back to the associated section of the application to make your changes. You’ll need to click through all the previous steps to get back to this ‘Review & Sign’ page.
When you’re done, Certify and Sign at the bottom. Click the box saying you have reviewed the information and that it is all true and correct. You understand that this is a loan you must repay. 1
Enter your name as it was initially entered on your application. 2
Click “SIGN AND SUBMIT.”
Once all of the paperwork is in, your new servicer will send you a summary letter explaining your interest rate, what your payments will be, and for how long. You’ll have a 10-day review period at that time to decide whether you want this consolidation to go through. You can cancel your application during that time, before it finalizes.
The confirmation page includes the name and phone number for your new loan servicer. Be sure to make note of their name and contact information.
Your confirmation page may look different from the example depending on how you answered questions on the application.
If you clicked the box for your spouse to cosign the loan, your confirmation page will have a numerical code that you’ll want to write down. 1 It will also be emailed to you. That’s the code your spouse will need to return to the website and cosign the application, giving StudentLoans.gov permission to access their financial information for determining the monthly loan payment.
Your spouse will not be responsible for your loan in any way.
If you selected that your income is significantly different from the last time you filed your taxes, you’ll have to submit paystubs with this application.
The page will generate a PDF form of the income-driven repayment plan request with most of the answers filled in. 1
You’ll submit that form with your paystubs to the servicer that you chose.
You can click the link at the bottom to view your completed Direct Consolidation Loan application. 2
You can view and print the application(s) or you can cancel the application(s). 1
Most servicers process the application in one or two days. If you want to cancel the application after it has been processed, you will have to call your servicer to do that. Once you receive a summary letter from your servicer, you then have a 10-day period to cancel your application as well.
Call us to let TG know you’ve completed the application.
You may need to contact your servicer to see if anything is needed.
That’s it. Congratulations you are done!
If you are opting to have your spouse cosign, you will proceed with the next step.
P.O. Box 8956
Madison, WI 53708
Fax: (855) 815-9587
P.O. Box 6180
Indianapolis, IN 46206
Fax: (317) 578-6262
P.O. Box 69186
Harrisburg, PA 17106
Fax: (717) 720-3103; (717) 720-1628
To enter the spouse code, go to StudentLoans.gov, have your spouse log in with their FSA ID, and select ‘Cosign a Spouse’s Income-Driven Repayment Plan Application’ 1 from the main menu.
To complete the cosign, your spouse will need to know your Social Security number and the code that was generated at the end of your application process.
Select “START” 2 and follow the steps as prompted.
Hopefully you didn’t find that too painful.
If you have questions or need additional support, contact TG at (800) 222-6297.