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.
About Federal Student Loans. If you make more than one monthly student loan payment, you may find life easier with one affordable payment. A Direct Consolidation Loan brings all of your federal student loans together with a fixed interest rate. The rate is determined as an average of the loan rates that are being consolidated (rounded up to the nearest one-eighth percent). Consolidation gives you up to 30 years to repay your loan, depending on your loan balance. Though increasing the repayment period also increases the total amount of interest you will pay over time, you can always pay more than the minimum due with no penalty.