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Consolidating allows you to merge multiple eligible loans into a single loan. That loan is then serviced by the servicer of your choosing. Read on for more information about loan consolidation and why you may want to consolidate your federal student loans.
Student loan consolidation lets you combine one or more eligible federal student loans into one new Direct Consolidation Loan. As a result, the U.S. Department of Education becomes the new lender. As the administrator of the program, they use companies to originate and service the loans.
29 cze 2024 · Direct Consolidation Loan. The first way is to consolidate your federal student loans through a Direct Loan consolidation. In this situation, the Federal Student Aid office will allow you to choose who you’d like for your new loan servicer from a list. Student loan refinance. The other option is to refinance your federal student loan debt ...
13 lis 2024 · Nelnet Federal Student Loan Services. We deliver efficient, compliant federal loan services for the Department of Education and exceptional service for its customers. If you’re a borrower looking for help with your federal student loan (s) serviced by Nelnet, please visit Nelnet.StudentAid.gov.
Consolidation payment estimate calculator. Consolidated Loans reduce the total monthly payment amount by combining outstanding student loans into one new loan. Consolidation creates a new promissory note. The consolidation may result in fewer deferment options and a higher interest rate.
Student loan consolidation or refinance can simplify your student loans into one monthly payment. Just remember there are additional unique benefits to both options. Weigh the benefits of each program to decide the right option for your situation.
Nelnet provides federal student loan servicing, managing billing, questions, payments, and helping borrowers enroll in the best repayment plans.
