Get cash back for consolidating your student loans

To ask questions about consolidating your loans before you apply for a Direct Consolidation Loan, contact the Student Loan Support Center at 1-800-557-7394.To request technical assistance while you are signed in and completing the online, select the “Contact Us” tab in the top menu bar of Student Once your loans are combined into a Direct Consolidation Loan, they cannot be removed. If you want to lower your monthly payment amount but are concerned about the impact of loan consolidation, you might want to consider deferment or forbearance as options for short-term payment relief, or consider switching to an income-driven repayment plan.

And the sooner you get your student loans paid off, the sooner you can divert more of your savings to other key financial goals, such as retirement, a home down payment, or perhaps a 529 College Savings fund for your children. Sometimes life gets in the way of staying on pace with monthly loan payments.The fixed rate is based on the interest rates on the loans you are combining.The bigger the balance for a given loan, the more impact its interest rate will play in determining your consolidated loan rate. Anyone with one or more federal student loans is eligible for the Federal Direct Consolidation Loan Program.If you submitted your application online, your consolidation servicer’s contact information was provided at the end of the online process. Getting schooled on the differences of each option will help you choose the student loan consolidation that makes the most sense for you. You are not permitted to add any private student loans you obtained from a bank or credit union into loans you want to consolidate through the Federal Direct Consolidation Loan program.

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