Effects of consolidating student loans

12-Sep-2017 10:13 by 2 Comments

Effects of consolidating student loans - scarlett johansson dating black guy

If you select this option, you won’t have to begin making payments on your new Direct Consolidation Loan until closer to the end of the grace period on your current loans.

Once you consolidate your federal education loans into a Direct consolidation loan, there is no going back.If you submitted your application online, your consolidation servicer’s contact information was provided at the end of the online process. If you’re having a tough time juggling multiple student loan payments, consolidating them may be the way to go. If you have questions about consolidation before you apply, you can contact the Education Department’s Loan Consolidation Information Call Center at 1-800-557-7392. Whom do I contact if I have questions about consolidation?There is no cap on the interest rate of a Direct Consolidation Loan.Unless the loans you want to consolidate are in a deferment, forbearance, or grace period, it’s important for you to continue making payments on those loans until your consolidation servicer tells you that they have been paid off by your new Direct Consolidation Loan.

top This depends on where you are in the consolidation process.

From there, you can either complete and submit the feedback form or select “Additional Information” and contact the Student Loan Support Center at the phone number provided.

To ask questions after you have submitted your , contact the servicer for your new Direct Consolidation Loan. mail, your consolidation servicer’s contact information was available when you downloaded or printed the paper application.

You can apply electronically or get a paper application.

It also may lower your monthly payments by giving you as long as 30 years to repay.

Once your loans are combined into a Direct Consolidation Loan, they cannot be removed.