Consolidating student loans that are in default

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You may pay more in the long run, but for now, you’ll be able to make just one monthly payment – and it may be considerably lower than your current loan payments.

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Loan repayment programs or loan rehabilitation are two available options, but are only applicable to those who meet certain criteria.Making the Decision to Consolidate Your Student Loans Consolidating Your Federal Student Loans Consolidating Your Private Loans Community Q&A Most students need to borrow money to pay for college, and many struggle to make their payments after graduation.If you are juggling more than one payment on your loans (whether they are federal, private, or both), or if your federal loans are currently in default status, consolidation may help you manage your debt and protect your credit.You can “consolidate” just one loan, or several loans.You can consolidate loans even if you’re already in default.

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