Does consolidating my student loans hurt my credit
You can complete and submit the application online, or you can download and print a paper application from Student for submission by U. The consolidation servicer will be your point of contact for any questions you may have related to your consolidation application.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. Whom do I contact if I have questions about consolidation?Private education loans are not eligible for consolidation, but for some Direct Consolidation Loan repayment plans, the total amount of your education loan debt—including any private education loans—determines how long you have to repay your Direct Consolidation Loan.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
If consolidation would cause you to lose the benefits associated with some of your current loans and you are working toward earning those benefits, you should not include those loans in your new Direct Consolidation Loan.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.If you submitted your application online, your consolidation servicer’s contact information was provided at the end of the online process. Repayment of a Direct Consolidation Loan will begin within 60 days after the loan is disbursed (paid out).Your loan servicer will let you know when the first payment is due.