If you would like to add other eligible loans, your servicer must receive your Request to Add Loans Form within 180 days from the date your Direct Consolidation Loan is completed (originated).
If you choose Nelnet to originate and service your Direct Consolidation Loan, you may request to add other eligible loans to it by completing the Request to Add Loans Form and send it to Nelnet via email Direct Loan [email protected], fax (402.858.3929), or mail to: Nelnet P.
You can consolidate all, just some, or even just one of your student loans.
Consolidating federal student loans may be a good strategy to lower monthly payments or to get out of default, but it is not always a good idea.
Direct consolidation loans are now the only type of federal student consolidation loan.
The result is a single monthly payment instead of multiple payments. Direct PLUS Loans received by parents to help pay for a dependent student’s education cannot be consolidated together with federal student loans that the student received.
Loans that are not eligible for consolidation include state or private loans that are not federally guaranteed.
Although all of these different loans may be consolidated, you must have at least one outstanding FFEL or Direct Loan to obtain a Direct Consolidation Loan.
However, FFEL Program loans are not eligible for Public Service Loan Forgiveness or the best income-driven repayment plans. It will effectively convert your FFEL Program loans into Direct Loans.
First, evaluate whether you want any of the benefits that are available only in the Direct Loan Program.