As a student preparing to repay my federal student loans, I want to understand how loan consolidation works, what types of loan forgiveness programs are available, and the purpose of completing student loan exit counseling. Please navigate to the 'Manage Your Loans' section on the U.S. Department of Education website and provide a brief explanation of each of these three topics.
Navigate to 'https://www.ed.gov/'. Hover over the 'Grants & Programs' button (ID 257). Click on the 'Federal Student Loans' link (ID 276) to reach the 'Manage Your Loans' page. Locate the 'Loan Consolidation' section and describe what a Direct Consolidation Loan allows you to do. Locate the 'Student Loan Forgiveness' section and identify the general conditions under which federal student loans may be eligible for forgiveness. Locate the 'Complete Your Student Loan Exit Counseling' section and explain the purpose of exit counseling. Synthesize the gathered information into a concise answer.
The agent successfully navigates to the 'Manage Your Loans' page on ed.gov. The agent states that a Direct Consolidation Loan allows you to consolidate (combine) multiple federal student loans into one loan with a single monthly payment. The agent states that in certain cases, some or all federal student loans may be eligible for forgiveness, cancellation, or discharge. The agent states that the purpose of exit counseling is to ensure you understand your student loan obligations and are prepared for repayment.