Consolidating Federal Student Loans
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Federal student loan consolidation allows you to bundle all of your eligible federal college loans into one single student consolidation loan. By consolidating your federal student loans, you’ll be able to replace your multiple monthly student loan payments with one single monthly payment to a single servicer.
Your federal consolidation loan will have a fixed interest rate, and, depending on the size of your consolidation loan, you may be able to extend the repayment term on your consolidated college loans by up to 20 years, which can significantly reduce your monthly payment amount.
Benefits of Federal Student Loan Consolidation
- Get one single easy-to-manage student consolidation loan with one monthly payment.
- Lock in a fixed interest rate, good for the life of your student consolidation loan.
- Cut your monthly student loan payments by up to 50%.
- Get up to 20 more years to repay your student loans.
- No credit checks or co-signers required.
- No application fees, origination fees, or prepayment penalties.
Consolidating Federal Parent Loans
Federal parent loans, like federal student loans, are eligible for federal student loan consolidation. You can’t consolidate federal PLUS parent loans with a child’s federal college loans, but you can consolidate all the federal parent loans you’ve taken out under your Social Security number, even parent loans you’ve taken out for different children.
More About Federal Student Consolidation Loans
» Get help consolidating student loans
» Student loan consolidation: Overview
» Student loan consolidation calculator
» Your payments before and after student loan consolidation
» Eligibility for student loan consolidation
» Student loan consolidation loan limits
» Student loan consolidation rates, fees, and terms
» Top questions about student consolidation loans
