Yet despite the appeal — and its popularity — student loan consolidation isn’t for everyone.
Timing is everything: You’ll need to complete all the paperwork and have it processed and approved before repayment begins.
You should do enough research to be able to negotiate the most favorable terms.
Public and private loans can’t be combined, but if you have multiple private loans, you can consolidate those, too; contact your lending institutions to find out how.
Before you consolidate, consider the following pros and cons: Note: Just remember, you must continue making payments after submitting your application until you receive notice from your servicer that underlying loans have been paid off.
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.