What is loan consolidation?
Updated October 6, 2022
Loan Consolidation allows you to combine multiple student loans into one larger loan. This can simplify the repayment process because you will have only one bill. ?It may even reduce your monthly payments. However, consolidation can also have negative consequences, such as increased interest payments and a longer repayment schedule. It is best to talk with your loan servicers to see which options are best for you.
Visit the Federal Student Aid website to learn more.