Consolidating my sallie mae student loans japan 2016 dating site for man and woman

28-Sep-2019 22:49

Consolidating your student loans can not only simplify your finances by allowing you to make just one payment each month, but it can also lower your monthly payment by lengthening your repayment term.

When you have a Direct Loan issued by the federal government and a loan through Sallie Mae, you might be able to consolidate them depending on what type of Sallie Mae loan you have.

Sallie Mae loans come in two major varieties, and the type you have will affect whether you can consolidate your Sallie Mae loan with your federal Direct Loan.

The first type of loan is the private student loan from Sallie Mae.

You could lose some of the benefits from your subsidized student loans.

Federal student loan borrowers have the option of consolidating their loans via the Direct Consolidation Loan program offered by the U. That loan is then serviced by the servicer of your choosing – of which Nelnet is one!

Consolidating allows you to merge multiple eligible loans into a single loan.

This is not a Stafford Loan from the federal government, but rather a loan that you got from Sallie Mae on your own initiative.

The second type of loan is a loan through the Federal Family Education Loan program.

You could lose some of the benefits from your subsidized student loans.

Federal student loan borrowers have the option of consolidating their loans via the Direct Consolidation Loan program offered by the U. That loan is then serviced by the servicer of your choosing – of which Nelnet is one!

Consolidating allows you to merge multiple eligible loans into a single loan.

This is not a Stafford Loan from the federal government, but rather a loan that you got from Sallie Mae on your own initiative.

The second type of loan is a loan through the Federal Family Education Loan program.

This is a Stafford or PLUS loan issued with funds from Sallie Mae but backed by the federal government. You can only consolidate Sallie Mae loans issued through the FFEL program into a Direct loan.