Consolidating student loans that are in default

Today, the answer to that question is probably yes!

Student loans originate from the federal government (called “federal student loans”) or from private sources, such as a bank, credit union, state agency, or school.

You may pay more in the long run, but for now, you’ll be able to make just one monthly payment – and it may be considerably lower than your current loan payments.

allows you to consolidate (combine) multiple federal education loans into one loan. Top 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.

Eligibility - You must be enrolled at a school that participates in the school loan program, and meet the general eligibility requirements.

How to apply -Complete the Free Application for Federal Student Aid or FAFSA.

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