Department of education consolidating private loans


29-Jan-2017 03:51

They won't be included in the consolidation, but the amounts can then be considered when determining the maximum repayment period.

You'll then pick the loan servicer you want to handle the consolidation from among the options provided by the Department of Education.

Read the terms and conditions, then confirm the borrower and reference information.

Once that's done, review and sign the documents.

Once you're signed in, you can complete the Federal Direct Consolidation Loan Application and sign the promissory note.

Or you can print out a paper application and mail the forms in if you choose.

With a lower monthly payment, you’ll have more money available to cover living expenses and accelerate repayment of higher interest rate debts.

In addition, federal funding is not available for non-U. These loans are unsubsidized, meaning you pay the interest yourself. Variable interest means that as the market changes, so does the amount of interest you are responsible to pay.Only federal student loans are eligible for consolidation.



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