Consolidating student loans and private loans
To learn more and determine if you qualify, please call our Repayment Assistance Department at 1-800-STUDENT.Learn More Before deciding if consolidating your student loans is right for you, we recommend you consider the possible benefits and impacts of a consolidation loan and how it may fit with your specific situation and needs.To reduce the cost of borrowing, you can make additional payments without penalty.You have the option to consolidate your federal and private student loans into one loan and monthly payment.Find out if student loan consolidation is right for you.You will have 30 days, from Approval Disclosure, to accept the loan terms and a three-day right-to-cancel period, following Final Disclosure, before the consolidation is complete.Get a 0.25% interest rate reduction when you are enrolled in automatic payments.
You need to qualify for the consolidation loan on your own.
If you choose to consolidate your federal student loan(s), the features and benefits associated with those loan(s) will not apply to your new consolidation loan.
For example, certain repayment options, such as Income-based repayment, loan forgiveness for public service and other benefits will no longer apply to your new consolidation loan.
Your repayment period can be 10 or 20 years, based on your creditworthiness.
View APR Examples If you are experiencing financial difficulties and you are unable to make your student loan payments, we have options to help.
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A private consolidation loan is a private student loan that combines and refinances multiple education loans into one new loan with a new interest rate, repayment term and monthly payment amount.