Consolidating loans direct loans
You repay your old loans with this money and then have the one, new loan to pay.
Student loan consolidation isn’t the same thing as refinancing.
You could potentially receive a lower interest rate with this new loan, but moving forward you would not longer qualify for federal income-driven repayment plans or student loan forgiveness.Make sure you have your verified FSA ID and loan documents from your servicer on hand to complete the application.Once your consolidation servicer has reviewed your application, it will reach out to you with next steps.The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website.All products are presented without warranty." Graduating from college comes with the acknowledgment of great achievement — and, if you’re like 70% of graduates, a burden on your back in the form of student loan debt.