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Check Federal Student Aid ID. Select the federal loans you want to consolidate. Choose a student loan service. Pick a repayment plan for your new consolidation loan. Complete and submit the application.

The Public Service Loan Forgiveness (PSLF) Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.

Borrowers who are eligible may receive student loan forgiveness on their remaining balance after 20 years (240 payments) through the Pay as You Earn (PAYE) program. Anyone with eligible federal student loans may qualify for the REPAYE program or Income-Based Repayment plan, which offer forgiveness after 20 or 25 years

If you are the parent of an eligible undergraduate, you may be able to borrow a Parent PLUS loan to cover the remaining cost of attendance after the other financial aid kicks in.

Usually, it takes about 10 years to pay off student loans, however, people may take longer depending on the added interest rates and whether they are able to meet all the repayment deadlines.

It usually takes from 2 weeks to 2 months for banks or financial institutions to disburse the loans to the loan applicant after the loan approval process goes through.