Student loan consolidation: Consolidation is the process of combining your government loans so that you can make a single monthly payment.
Should I refinance my student loans with fixed or variable interest rates? How do I consolidate or refinance my student loans? How much can I save by refinancing my student loans?
allows you to consolidate (combine) multiple federal education loans into one loan. Top Private education loans are not eligible for consolidation, but for some Direct Consolidation Loan repayment plans, the total amount of your education loan debt—including any private education loans—determines how long you have to repay your Direct Consolidation Loan.
We recommend the lenders above because we thoroughly evaluated them. Can I consolidate private and federal loans together? You can also extend the term of your loan, at the same interest rate.
Whom do I contact if I have questions about consolidation?
There is no cap on the interest rate of a Direct Consolidation Loan.
For example, borrowers with federal student loans can take advantage of federal income-driven repayment programs, or benefits like loan forgiveness, which borrowers with private student loans typically don’t have access to.
When you consolidate multiple student loans or refinance a single student loan, you may receive a lower monthly payment with a reduced interest rate or an extended repayment term.