Your Direct Consolidation Loan will be eligible for benefits such as deferment, forbearance, and loan forgiveness and you could receive additional financial aid; and the defaulted loan would still be on your record of credit history.
Very well. I would also like to know the loan transfer procedure, what will happen if my loan is transferred to another loan servicer?
You should receive an email or letter from your assigned servicer to tell you about the transfer.
Do you know about how long the mail or letter takes to arrive? What are the real benefits for me with loan rehabilitation?