Federal help consolidating student loans
Your required monthly payment amount is determined by your loan holder.Find out where to go for information about your Perkins Loan.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!
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.
However, your credit history will still show late payments that were reported by your loan holder before the loan went into default.
If you consolidate a defaulted loan, the record of the default (as well as late payments reported before the loan went into default) will remain in your credit history.
To start the loan rehabilitation process, you must contact your loan holder.
If you’re not sure who your loan holder is, you can log in to “My Federal Student Aid” to get your loan holder’s contact information.