how do you consolidate student loans

Best answer


Enter which loans you do 鈥?and do not 鈥?want to consolidate.Choose a repayment plan. You can either get a repayment timeline based on your loan balance or pick one that ties payments to income. …Read the terms before submitting the form online. Continue making student loan payments as usual until your servicer confirms consolidation is complete.

People also ask


  • Can I consolidate my student loans to save money?

  • If you want to save money by lowering your interest rate, consider private loan consolidation 鈥?also known as refinancing. Can you consolidate federal student loans? You can consolidate federal student loans with the Department of Education or a private lender, which is also called refinancing.

  • How can I consolidate defaulted student loans?

  • To consolidate defaulted loans you’ll need to make three full, on-time consecutive monthly payments on the defaulted loan and agree to enroll in an income-driven repayment plan. If you鈥檙e considering either federal or private student loan consolidation in order to get a drastically lower loan bill, look further into income-driven repayment instead.

  • What is federal student loan consolidation?

  • Federal student loan consolidation combines multiple federal loans into a single federal loan through the Department of Education. You may need to consolidate to be eligible for some federal loan repayment programs, but federal consolidation won鈥檛 lower your interest rate.

  • How long does it take for student loan consolidation to start?

  • Your repayment term will generally start within 60 days of when your consolidation loan is first disbursed and will be based on your total federal student loan balance, among other factors. Should I consolidate my student loans?

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