Us departement of education loan consolidating

Posted by / 16-Sep-2016 16:35

Us departement of education loan consolidating

Paying for your education is a serious long-term financial obligation; that’s why comparing the costs of different ways of financing your education is so important.

Private loans tend to have higher fees and interest rates than federal government loans.

If you choose Nelnet to originate and service your Direct Consolidation Loan, you may request to add other eligible loans to it by completing the Request to Add Loans Form and send it to Nelnet via email Direct Loan [email protected], fax (402.858.3929), or mail to: Nelnet P.

Nearly 41 million people have outstanding federal student loans, according to Federal Student Aid, part of the U. Although that number has doubled in just the last year, the problem is that many borrowers still don’t realize these plans are available and that they can get help for free.

The repayment period will last 10 to 30 years depending on your student loan debt and the plan you've chosen.

For more information, visit our Repayment plans section.

An education beyond high school is an investment in your future.

Whether you’re taking out a new student loan or consolidating existing education loans, the Federal Trade Commission (FTC), the nation’s consumer protection agency, and the U. Department of Education (ED), the agency that oversees federal student loans, want you to know how to spot potentially deceptive claims or business practices some private companies may use to get your loan business.Private loans also do not offer the opportunities for cancellation or loan forgiveness that are available on many federal loan programs.The Direct Consolidation Loan Program lets you combine one or more federal student loans into a single new loan. The following are some of the details about the Direct Consolidation Loan Program: Consolidation loans do not have six- or nine-month grace periods the way some other loans do—you must begin repayment on a consolidation loan within 60 days of disbursement, regardless of whether the grace periods on the individual loan(s) has ended.You have the option to select the servicer of your choice (of which, Nelnet is an option) After your new Direct Consolidation Loan is complete, you may still add more eligible loans to your existing consolidation.If you would like to add other eligible loans, your servicer must receive your Request to Add Loans Form within 180 days from the date your Direct Consolidation Loan is completed (originated).

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