Yeah, I know. I read somewhere that this action will allow me to pay the least amount of interest in my loan, is that right?
That's correct. You are very well informed.
Is the same for those Direct Consolidation or FEEL Consolidation loans?
Not quite. In those cases, the length of your repayment period will be determined depending on the amount of your total education loan indebtedness. That includes the amount of your consolidation loan and your other student loan debt.