If you need help getting out of debt, you are not alone.Although signs show an upturn in the economy, many Americans are deep in debt, and not everyone can work overtime or a second job to pay down that debt.If approved, you can pay off all six debts at once and only make one monthly personal loan payment going forward.
You have the option to select the servicer of your choice (of which, Nelnet is an option) After your new Direct Consolidation Loan is complete, you may still add more eligible loans to your existing consolidation.
These are not quick fixes, but rather long-term financial strategies to help you get out of debt.
When done correctly, debt consolidation can: There are several ways to consolidate debt, depending on how much you owe.
WARNING: It is very dangerous to consolidate federal loans into a private consolidation loan.
You will lose your rights under the federal loan programs once you choose to consolidate with a private lender.