Student Financial Advisors provides services that consolidate federal student loans. Federal student loans that can be consolidated include; Federal Perkins Loans, Stafford Loans both Federal Family Education Loans and Direct Loans, and PLUS Loans or Parent Loans.

A Federal Perkins Loan is a low-interest (5 percent) loan for both undergraduate and graduate students with financial need as described earlier in Pell grants. Your school is your lender. The loan is made with government funds with a share contributed by the school. You must repay this loan to your school or do a student loan consolidation.

Depending on when you apply, your level of need, and the funding level of the school, you can borrow up to

• $4,000 for each year of undergraduate study (the total amount you can borrow as an undergraduate is $20,000).
• $6,000 for each year of graduate or professional study (the total amount you can borrow as a graduate/professional student is $40,000, including any Federal Perkins Loans you borrowed as an undergraduate).

A Perkins Loan borrower is not charged any fees to take out the loan. However, if you skip a payment, make a payment late, or make less than a full payment, you might have to pay a late charge. If your failure to make payments persists, you might have to pay collection costs as well. Also this might result in the loans going into default, once in default the student loses the majority of their barrower benefits.

In addition to Perkins Loans, the U.S. Department of Education administers the Federal Family Education Loan or (FFEL) Program and the William D. Ford Federal Direct Loan (Direct Loan) Program. Both the FFEL and Direct Loan programs consist of what are generally known as Stafford Loans.

Schools generally participate in either the FFEL or Direct Loan program but sometimes participate in both. Under the Direct Loan Program, the funds for your loan come directly from the federal government. Funds for your FFEL will come from a bank, credit union, or other lender that participates in the program. Eligibility rules and loan amounts are identical under both programs, but repayment plans differ somewhat.

Parents can borrow a PLUS Loan to help pay your education expenses if you are a dependent undergraduate student enrolled at least half time in an eligible program at an eligible school. PLUS Loans are available through the Federal Family Education Loan (FFEL) Program and the William D. Ford Federal Direct Loan (Direct Loan) Program. Your parents can get either loan, but not both, for you during the same enrollment period. They also must have an acceptable credit history.

For a Direct PLUS Loan, your parents must complete a Direct PLUS Loan application and promissory note, contained in a single form that you get from your school's financial aid office.

For a FFEL PLUS Loan, your parents must complete and submit a PLUS Loan application, available from your school, lender, or your state guaranty agency. After the school completes its portion of the application, it must be sent to a lender for evaluation.

When students consolidate federal student loans they may include all of the above federal student loans.