Your repayment term will generally start within 60 days of when your consolidation loan is first disbursed and will be based on your total federal student loan balance, among other factors; click on the link below for more details.[Back to top] Applying for consolidation takes most borrowers less than 30 minutes, according to the Federal Student Aid website.Debt consolidation is a strategy to roll multiple old debts into a single new one.
What about if it were combined with a NEW loan for a car for me?
Don’t add another loan payment to your budget if you need cash or want to consolidate debt.
Use credit wisely and use new car loans to work for you by refinancing to turn the equity that is in your vehicle to cash.
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.