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.
Student Loan Consolidation Basics. Student loan consolidation is a relatively easy concept to understand: it is the process of taking multiple student loans and combining them into one. Another term for this is Refinancing. Before consolidation, a student borrower might have multiple loans to pay back and many different loan balances to track.