Central Florida Nesties
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student loan consolidation

Has anyone done this? is the process easy? What agency did you use? i start repayment soon and need to consolidate! TIA!

 

sorry about the ghetto DD before (under my old name)... does anyone know if there is a way to delete an old profile so that i am not accidentally signing in under it anymore?

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Re: student loan consolidation

  • Do you mind me asking who you have your loans through?  I'm sure the process is different for each lender.  But I have Direct Loans (from the government) and here's how I did it.  You can call the number on the statement that you get in the mail.  Just navigate through the automated system and select "consolidation" or just press "0" and tell the operator that you want to consolidate.  They will transfer you to the right department and then ask you some questions.  After I spoke with someone on the phone, I got paperwork in the mail about a week later to fill out and sign and within a month they sent me my new statement with my new interest rate and payment. 

     Again, I have Direct Loans and they have their own consolidation department, so I used that one.  Government student loan rates and consolidation rates tend to be better than private banks.  And the process tends to be easier if you consolidate with the same lender who holds the loan now.  If you have direct loans, you can also log into their website (you have to have an account or you can create one then) and you can click on the the "Consolidate Your Loans" tab on the menu on the left.  Here's the website:  www.dl.ed.gov

    Hope this helps!

  • I had my student loans through Nelnet and consolidated through them. At the time I did it, if you consolidated through them, you got an additional 6 months grace period...not sure if they're doing that anymore though!

    And yeah I sign in under my old name by accident sometimes too. I don't know if an old profile can be deleted :(
     

  • I have my loans through Nelnet. Two of them have a really great interest rate (like 3%) but my biggest loan has a pretty high rate (8% i think) so i'm not sure what they will do in this situation....

     

    i didn't realize i could consolidate through them, i thought i had to go through a private lender -- MRS TBC how long ago did you do that if you dont mind me asking? i had read somewhere that it is getting harder to consolidate b/c if the economy

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  • last time I looked Nelnet said they were consolidating anymore. mine are through them too
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