Department of education consolidating private loans

Like all private lenders, Sallie Mae’s borrowing limits, interest rates and repayment plans are contingent on the borrower’s credit history.

Our expert tips and hacks will help you save money, pay off loans sooner and stress less about student loan debt. Department of Education made the landmark decision to allow you to choose your consolidation servicer (of which, Great Lakes is one) under the Direct Consolidation Loan program.Since you must select a repayment plan on your application, start by determining which plan makes the most sense for your situation.When you consolidate your Federal student loans, you go through the Direct Consolidation Loan program.This program is designed specifically for Federal student loans and is administered by the Department of Education.

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