Us consolidating student loans
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.Consolidation gives you the opportunity to choose one of the U. Department of Education's consolidation servicers (of which, Great Lakes is one) to complete and service your Direct Consolidation loan.Are you tired of managing multiple federal student loan payments, with multiple interest rates or multiple servicers? The program may allow you to consolidate your federal loans into one, and select the consolidation servicer of your choice. The Direct Consolidation Loan program is offered by the U. Department of Education to federal student loan borrowers.If you need to add a loan, you can cancel your existing application and reapply with the additional loan(s).Once you apply, it can take from 30 to 45 days to process.
Once you've received the Approval Disclosure and accepted the loan terms, no additional loan(s) can be added.You don't have to pay for student loan services or advice.Our expert representatives have access to your latest student loan information and understand all of your options.Get a 0.25% interest rate reduction when you are enrolled in automatic payments.To enroll for automatic payments, complete the enrollment form online or call us at 1-800-STUDENT to request a copy of the enrollment form, complete it and mail it back to the address on the form. You can choose to consolidate while you are still in school, during your grace period or after your grace period expires.