Benefits of consolidating a loan

When you apply for a Direct Consolidation Loan, you don’t have to consolidate all of your eligible loans. If consolidation would cause you to lose the benefits associated with some of your current loans and you are working toward earning those benefits, you should not include those loans in your new Direct Consolidation Loan.We strive to provide you with information about products and services you might find interesting and useful.Relationship-based ads and online behavioral advertising help us do that.You can complete and submit the application online, or you can download and print a paper application from Student for submission by U. The consolidation servicer will be your point of contact for any questions you may have related to your consolidation application.Unless the loans you want to consolidate are in a deferment, forbearance, or grace period, it’s important for you to continue making payments on those loans until your consolidation servicer tells you that they have been paid off by your new Direct Consolidation Loan.Repayment of a Direct Consolidation Loan will begin within 60 days after the loan is disbursed (paid out).

From there, you can either complete and submit the feedback form or select “Additional Information” and contact the Student Loan Support Center at the phone number provided.These ads are based on your specific account relationships with us.To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs.To ask questions after you have submitted your , contact the servicer for your new Direct Consolidation Loan. mail, your consolidation servicer’s contact information was available when you downloaded or printed the paper application.If you submitted your application online, your consolidation servicer’s contact information was provided at the end of the online process.

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