Department of education consolidating student loans
It’s important that you fully understand loan rehabilitation and loan consolidation before making your decision.
Learn more about loan rehabilitation and loan consolidation.
One way to get out of default is to repay the defaulted loan in full, but that's not a practical option for most borrowers.
The two main ways to get out of default are loan rehabilitation and loan consolidation.
If you borrowed any federal student loans before July 2010, there’s a good chance that some or all of your federal student loans are not Direct Loans.
But that doesn’t mean you can’t qualify for the best repayment benefits—you can. If you consolidate, as a student borrower, here are some of the repayment benefits you could access: by the Department of Education.
While loan rehabilitation takes several months to complete, you can quickly apply for loan consolidation.
In weighing your options, be sure to compare your current monthly payments to what your monthly payments would be if you consolidated your loans.You must have an FSA IDto access all services offered by this Web site. The FSA IDalso allows you to sign your If you have not previously received a Direct Loan or Federal Family Education Loan (FFEL), the Federal Government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming.The FSA IDserves as your identifier to let you access your personal information in various U. If you complete entrance counseling to borrow a loan as an , the entrance counseling fulfills counseling requirements for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans.If you would like to add other eligible loans, your servicer must receive your Request to Add Loans Form within 180 days from the date your Direct Consolidation Loan is completed (originated).If you choose Nelnet to originate and service your Direct Consolidation Loan, you may request to add other eligible loans to it by completing the Request to Add Loans Form and send it to Nelnet via email Direct Loan [email protected], fax (402.858.3929), or mail to: Nelnet P.