In UK, 'consolidation' means taking out a NEW LOAN to pay back the first ... the new loan WILL be at a (much) higher rate of interest, but this will be 'hidden' because they will extend the time-scale so you are paying a bit less per month (eg say you owe $100 a month for 5 years .. 'consolidation' can turn this into $80 a month for 10 years ..)
... whilst 'rehabilitation' would suggest you start paying back the original loan again, but at a higher rate (in order to meet the original agreed timescale)
No longer authentic, i know i'm late, but maybe some else goes by way of this. #1) do not file #2) request an extension, really easy on the internet site #3) consolidate your loans and ensure you call consistently to find out when they'll file the consolidation to the dep. Of Ed. Contact the IRS and find out your stability. If it is $0 but they still say you've an offset, you can also run into an obstacle the place they will send the cash to the department of Ed. After which refund it again to you. As soon as your loan is consolidated you no longer owe any cash to Dept of Ed so that they can not take your refund. Filing an extension gives you except Oct to get all of this handled. Do not hearken to bad Nancies and do not quit. I did it by way of April 15 and that i started Jan 15.
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In UK, 'consolidation' means taking out a NEW LOAN to pay back the first ... the new loan WILL be at a (much) higher rate of interest, but this will be 'hidden' because they will extend the time-scale so you are paying a bit less per month (eg say you owe $100 a month for 5 years .. 'consolidation' can turn this into $80 a month for 10 years ..)
... whilst 'rehabilitation' would suggest you start paying back the original loan again, but at a higher rate (in order to meet the original agreed timescale)
No longer authentic, i know i'm late, but maybe some else goes by way of this. #1) do not file #2) request an extension, really easy on the internet site #3) consolidate your loans and ensure you call consistently to find out when they'll file the consolidation to the dep. Of Ed. Contact the IRS and find out your stability. If it is $0 but they still say you've an offset, you can also run into an obstacle the place they will send the cash to the department of Ed. After which refund it again to you. As soon as your loan is consolidated you no longer owe any cash to Dept of Ed so that they can not take your refund. Filing an extension gives you except Oct to get all of this handled. Do not hearken to bad Nancies and do not quit. I did it by way of April 15 and that i started Jan 15.