Atlanta adult chatrooms - Consolidating federal student loans sallie mae

Whom do I contact if I have questions about consolidation?

consolidating federal student loans sallie mae-57

You may be contacted by private companies that offer to help you apply for a Direct Consolidation Loan, for a fee. There’s no need to pay anyone for assistance in getting a Direct Consolidation Loan. The fixed rate is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of one percent.

The loans that were consolidated are paid off and no longer exist.

Loan consolidation can also give you access to additional loan repayment plans and forgiveness programs. Refer to the complete list of federal student loans eligible for consolidation in the application.

There is no application fee to consolidate your federal education loans into a Direct Consolidation Loan. Department of Education (ED) or ED’s consolidation loan servicers. Top A Direct Consolidation Loan has a fixed interest rate for the life of the loan.

So, for instance: If the average comes to 6.15%, your new interest rate will be 6.25%.

Additionally, you’ll get a new loan term ranging from 10 to 30 years.

WARNING: It is very dangerous to consolidate federal loans into a private consolidation loan.

You will lose your rights under the federal loan programs once you choose to consolidate with a private lender.

Sallie Mae loans are typically used by students who require additional funding once all other options have been exhausted.

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