Can you tell me what happens after my defaulted loan has been consolidated?
Actually, you Direct Consolidation Loan will be eligible for benefits such as deferment, forbearance, and possibily loan forgiveness and you could also be eligible for more federal student aid.
Hello there, that's probably what will happen. Could you please explain what a servicer is and what they can do for me?
Sure. As you probably know already, they are related to loans management, so in a formal way, they are companies that we assign to handle the billing and other services on your federal student loan on our behalf. That service is done without any cost for you.