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You must have an FSA IDto access all services offered by this Web site. The FSA IDalso allows you to sign your If you have not previously received a Direct Loan or Federal Family Education Loan (FFEL), the Federal Government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming.
Federal student loan borrowers have the option of consolidating their loans via the Direct Consolidation Loan program offered by the U. That loan is then serviced by the servicer of your choosing – of which Nelnet is one!
The Perkins Loan program requires that the student borrower repay with interest this source of financial assistance.
Even if you have only one defaulted student loan, you may obtain a Direct Consolidation Loan to resolve the default.
In the process of consolidation, each original loan is paid in full and a new Direct Consolidation Loan is originated for the combined balance of the consolidated loans.
Consolidation is refinancing all of your federal student loans into one loan.
This new loan will have a new interest rate, payment terms and monthly payments.