Consolidating defaulted federal student loans dating japan for chinese
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.
These include deferment, forbearance, cancellation, and affordable repayment rights.
Once your loans are combined into a Direct Consolidation Loan, they cannot be removed.As you think about rehabilitation and consolidation, try to be realistic about whether you can afford to make even very small payments each month.You want to avoid rehabilitating or consolidating your defaulted loans and then defaulting again because you are unable to meet your new obligations.You should consider the pros and cons of consolidation before making this choice.This section contains information about how to consolidate if you have already defaulted on your loans.
Under the Direct Loan Consolidation Program, you can consolidate Subsidized and Unsubsidized Stafford Loans, Supplemental Loans for Students (SLSs), Federally Insured Student Loans (FISLs), PLUS Loans, Direct Loans, Perkins Loans, Health Education Assistance Loans (HEALs), and just about any other type of federal student loan.