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The U.S. Department of Education extended the deadline to consolidate federal student loans to receive the full benefit of the current Income-Driven Repayment (IDR) adjustment from to April 30, 2024. 

If you have older loans issued through the Federal Family Education Loan Program (FFELP) you now have until April to consolidate those loans to receive full retroactive credit for all payments made to date. 

There is also a benefit for loan holders who took out federal loans several years apart.  

By consolidating before the April 30 deadline, your new consolidation loan will be credited with the payment count of the loan you included with the highest number of payments. 

For example, if you consolidate two loans, one with 104 payments and a second with 55 payments, the resulting consolidation loan will be credited with 104 payments. 

Visit the student loan counseling section of the PEF Membership Benefits website for more information.