Consolidated loan reconsolidating student
If you choose Nelnet to originate and service your Direct Consolidation Loan, you may request to add other eligible loans to it by completing the Request to Add Loans Form and send it to Nelnet via email Direct Loan [email protected], fax (402.858.3929), or mail to: Nelnet P.
When you consolidate multiple student loans or refinance a single student loan, you may receive a lower monthly payment with a reduced interest rate or an extended repayment term.
In the process of consolidation, each original loan is paid in full and a new Direct Consolidation Loan is originated for the combined balance of the consolidated loans.
ED determines the interest rate of the Direct Consolidation Loan by taking the weighted average of the interest rates on your existing loans and rounding up to the nearest 1/8 of a percent (0.125).
The automatic payment discount may not change your monthly payment amount depending on the type of loan you receive, but may reduce the number of payments or reduce the amount of your final payment.
Learn more about how to take advantage of both student loan discounts. The lifetime limit for this loan combined with all other education-related debt is 0,000.
One way to resolve a defaulted loan is to combine your existing federal student loans into a new Direct Consolidation Loan from the US Department of Education (ED).
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.
Rates are typically higher without a cosigner; however, borrowers that meet these requirements on their own do not need a cosigner (but may still choose to apply with a cosigner).
Today, the answer to that question is probably yes!
You have the option to select the servicer of your choice (of which, Nelnet is an option) After your new Direct Consolidation Loan is complete, you may still add more eligible loans to your existing consolidation.
If you would like to add other eligible loans, your servicer must receive your Request to Add Loans Form within 180 days from the date your Direct Consolidation Loan is completed (originated).