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.
If you're in default on your student loans, you can't get new loans to go back to school, and you face severe collection procedures. Consolidation can give you a fresh start. You can consolidate defaulted student loans into a Direct Consolidation Loan and stop collections including garnishments and tax intercepts. Be aware that if you are in default, your balance will go up after you consolidate, because collection fees will be added to the loan.