This brochure contains suggestions for individuals repaying student loans on how they might benefit from Direct Loans, a program which consolidates multiple loans into a single account and offers favorable repayment terms, convenience, financial flexibility, and competitive interest rates. The brochure contains information on factors to be considered when deciding on loan consolidation: the interest rates for each loan; what one can afford to pay each month; how much one is willing to pay over the long term; how many payments are left on the loans; and what current lenders offer. Four repayment plans are described: (1) Standard (fixed payments over 10 years or less); (2) Extended (lower monthly payments over 12 to 30 years); (3) Graduated (payments rise gradually in two-year steps over 12 to 30 years); and (4) Income Contingent (payments linked to borrower's income for up to 25 years). The Direct Loan program's flexibility is stressed (repayment plans can be changed to fit individuals' developing careers), as is the program's "loan rehabilitation" option to deal with defaults. Four examples of how a Direct Loan can work are presented, along with lists of loans that are eligible or ineligible for consolidation. (MAH)