Old student loan debt

Date: Tue, 04/30/2019 - 05:19

Submitted by princeSS31 on Tue, 04/30/2019 - 05:19

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Student loan headed for default. Original loan amount was 25,000. Consolidated once 15 years ago with new york higher ed. Then loan went back to direct loan. Now serviced thru mohela. Loan amt is now 70,000.Am i able to consolidate again. When i call loan servicer they have no options for me.

Total Replies: 4

Is it a federal student loan

Is it a federal student loan or a private student loan? Also tell something about your financial situation. Will answer accordingly.

Submitted by David Martin on Thu, 05/02/2019 - 21:43

David Martin

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As long as I know MOHELA acts

As long as I know MOHELA acts as a federal loan servicer, so you can't consolidate your loan at all. Talk to them again if you can get an easy repayment option.
Mean while you can check out this - https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation

Submitted by tiarajoseph11 on Mon, 05/06/2019 - 01:58

tiarajoseph11

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If it is private student loan

If it is private student loan, the take out a consolidation loan to repay it. If it is federal, then you have to repay it through the federal student loan repayment program.

Submitted by Sanders Patricia on Fri, 05/03/2019 - 05:01

Sanders Patricia

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Yes, MOHELA acts as a federal

Yes, MOHELA acts as a federal loan servicer so you can't consolidate the loan my friend.

Submitted by Barbara Delinsky on Mon, 05/13/2019 - 00:29

Barbara Delinsky

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