Consolidating student loans that are in default

Watch this video to learn more about what happens after submitting your FAFSA.Before taking a private loan, make sure you need it.With an average balance of ,400, student debt is a big part of the average college graduate's life.

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But one thing remains true among all these possibilities: If payments aren’t received by your lender, your student loan The default will be noted in your credit report and will continue to be visible to lenders even if the default is quickly resolved.

With many young graduates carrying anywhere from hundreds to hundreds of thousands in student loan debt, students are currently facing a mountain of a financial challenge.

On top of already high numbers, student loan debt is a sticky kind of debt…

There is no application fee to consolidate your federal education loans into a Direct Consolidation Loan. Department of Education (ED) or ED’s consolidation loan servicers. Top A Direct Consolidation Loan has a fixed interest rate for the life of the loan.

You may be contacted by private companies that offer to help you apply for a Direct Consolidation Loan, for a fee. There’s no need to pay anyone for assistance in getting a Direct Consolidation Loan. The fixed rate is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of one percent.

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