1 The technology is destined for oblivion. 2  The names of the people who lived here long ago have faded into oblivion. 3  His theories have faded into scientific oblivion. 4  Her work was rescued from oblivion when it was rediscovered in the early 1900s.
Student loan consolidation is the process of merging multiple student loans into one new loan with one easy monthly payment, rather than multiple payments each month. Essentially, the new loan pays off your old student loans when you consolidate. Because your old student loans are paid off, the consolidation process is not reversible.
Talking to your student loan servicer can be a helpful way to determine if consolidation makes sense for your situation. (iStockPhoto) Gone are the days when it was generally a good idea for most federal student loan borrowers to consolidate their loans. The student loan world has changed significantly, eliminating two of the biggest benefits of consolidation. First, most federal loans previously featured variable interest rates.