If you have to remit payments to several lenders, you may want to consider consolidating your Perkins Loan with your other Federal loans. Consolidation may let you pay graduated payments, or income-sensitive payments, depending on the amount of your total debt. You may also be able to stretch your repayments beyond ten years. Consolidation may increase your interest rate.

As of July 1, 2010, all federal student loan consolidations are now processed by the U.S. government through the Federal Direct Loan Program (FDLP). Visit the Federal Direct Loan Consolidation Information Center to get more details and apply for a consolidation loan.