Consolidating loans with different interest rates dating site for disabled 2016
So, the interest rate on a consolidation loan may be higher than the underlying loans.
However, the interest rate is fixed for the life of the loan.
After 180 days, you will need to apply for a new Direct Consolidation Loan.
Request to Add a Loan to an Existing Federal Direct Consolidation Loan Mail your completed form to: Navient - Department of Education Loan Servicing Attn: Loan Consolidations Originations P. Box 6180 Indianapolis, IN 46206-6180 The interest rate is calculated by the weighted average of the interest rates of the loans consolidated, rounded up to the nearest 0.125 percent.
top This depends on where you are in the consolidation process.
If you submitted your application online, your consolidation servicer’s contact information was provided at the end of the online process. Consolidating multiple loans means you'll have a single payment each month for that combined debt but it may not reduce or pay your debt off sooner.By understanding how consolidating your debt benefits you, you'll be in a better position to decide if it is the right option for you. The loans that were consolidated are paid off and no longer exist. Once your loans are combined into a Direct Consolidation Loan, they cannot be removed.