Us consolidating student loans

Posted by / 25-Oct-2020 12:07

Are you tired of managing multiple federal student loan payments, with multiple interest rates or multiple servicers? The program may allow you to consolidate your federal loans into one, and select the consolidation servicer of your choice.

The Direct Consolidation Loan program is offered by the U. Department of Education to federal student loan borrowers.

Find out if student loan consolidation is right for you.

You will have 30 days, from Approval Disclosure, to accept the loan terms and a three-day right-to-cancel period, following Final Disclosure, before the consolidation is complete.

Your repayment period can be 10 or 20 years, based on your creditworthiness.

View APR Examples If you are experiencing financial difficulties and you are unable to make your student loan payments, we have options to help.

However, once your loan is disbursed, and we pay off your existing loans, the process cannot be reversed.

This could result in a lower interest rate and/or a lower monthly payment.We recommend you compare your current loan terms against the consolidation loan terms.For example, you may not want to include loans with a lower interest rate than the consolidation loan.These options are flexible to meet the different and changing needs of borrowers.Only Direct Consolidation Loans offer the Income Contingent Payment option.

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