Consolidating private student loans in default
Read the other posts in the series here—and get all the info you need to make intelligent decisions about your student loans.
And while you’re at it, check out So Fi’s new Student Loan Debt Navigator tool to assess your student loan repayment options. With prevailing interest rates at historic lows, some private lenders offer rates that are significantly better than a high-rate federal loan.
We put together this guide to help you get information on all of the top student loan refinance lenders without having to jump around multiple websites.
Student loan consolidation is a relatively easy concept to understand: it is the process of taking multiple student loans and combining them into one. Before consolidation, a student borrower might have multiple loans to pay back and many different loan balances to track.
After consolidating his or her loans, a student borrower will have just one monthly payment and just one loan balance to maintain.
Learn more about Direct Consolidation Loans on the Federal Student Aid site Apply now at Student Private student loans are NOT eligible for consolidation into a Direct Consolidation Loan.
You may also add eligible loans to your existing Direct Consolidation Loan using the form below – if you are within 180 days of the date we paid off the first loans you are consolidating.
If you still don’t pay, your loans will go into default.