Late payments will have a negative impact on your credit report.
Having excessive student loan debt can keep you from owning a home, accumulating savings, or building wealth.
Think about future indebtedness before accepting 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.
Student loan consolidation or refinancing can be a great tool to use for those looking to save on, or simplify, their monthly payments, but going that route can also have serious consequences if not approached carefully – there are even student loan consolidations scams to be aware of.
That’s why we created this guide – to give borrowers a useful resource that empowers them to choose if student loan consolidation is right for them and which type may best suit their needs.
Federal student loans include Direct Loans, Pell Grants, PLUS loans, and the Perkins Loan Program.
Private loans are made available by banks in the private market and have higher fees and interest rates than federal loans.
Many potential employers look at your credit profile as a measure of responsibility.