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Frequently Asked Questions

Everything You Need to Know

FAQ: FAQ

Will my interest rate change?

When a consolidation is put in place, the new loan has a weighted average interest rate of the consolidated loans, in effect, there is no change.

When will I be required to start making payments?

Generally, once the consolidation is approved and dispersed, payments will start approximately 60 days thereafter.

Can I consolidate my loans if I’m in default?

Yes, many loans will qualify for consolidation and some loans that have already been consolidated will also qualify and many of the loans you may have added after the initial previous loan consolidation date may also qualify.

If I have already consolidated, can I consolidate again?

This may be the largest benefit available in that there are many options to help manage your loans. Depending on the dates of your loans, and type of original loans, you may have several options to choose from.  We will help you find out what options are available.

What payment plans are available after consolidation?

This may be the largest benefit available in that there are many options to help manage your loans. Depending on the dates of your loans, and type of original loans, you’ll be able to choose from multiple options offer flexible, lower plans that also offer forgiveness.

How does consolidation work?

Consolidation can be detailed and difficult to fully understand, for more information you can go to the Department of Education website to learn more;

with the following link: https://www.ed.gov/

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