Consolidating private student loans bank of america

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You’ll select a repayment plan when you apply for a Direct Consolidation Loan. You apply for a Direct Consolidation Loan through Student After you submit your application electronically at Student or by mailing a paper application, the consolidation servicer you selected will complete the actions required to consolidate your eligible loans.

A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan. Similarly, if you have Federal Perkins Loans and you are employed in an occupation that would qualify you for Perkins Loan cancellation benefits, you should not include your Perkins Loans when you consolidate.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.This depends on where you are in the consolidation process.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.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.

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