Can consolidating student loans help your credit

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While loan rehabilitation takes several months to complete, you can quickly apply for loan consolidation.

It’s important that you fully understand loan rehabilitation and loan consolidation before making your decision.To start the loan rehabilitation process, you must contact your loan holder.If you’re not sure who your loan holder is, you can log in to “My Federal Student Aid” to get your loan holder’s contact information.Take a look at the chart below to compare the benefits of loan rehabilitation versus the benefits of loan consolidation.*NOTE: We previously indicated that loan consolidation would result in removal of the record of default from a borrower’s credit history.Your required monthly payment amount is determined by your loan holder.

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