Consolidation Loan School ◉ (DIRECT)

: You only have one bill and one loan servicer to manage each month.

: If you have older federal loans with variable rates, consolidating them locks in a fixed interest rate. Important Considerations

: Any unpaid interest on your old loans will be added to the principal balance of the new consolidation loan, meaning you will pay interest on a higher balance. consolidation loan school

: You may lose specific borrower benefits associated with your original loans, such as interest rate discounts or loan cancellation benefits .

: Consolidation can make you eligible for specific income-driven repayment plans or Public Service Loan Forgiveness (PSLF). : You only have one bill and one

: The process is free through the official Federal Student Aid website. Comparison: Consolidation vs. Refinancing Federal Consolidation Private Refinancing Lender Federal Government Private Banks/Lenders (e.g., Nelnet Bank, Citizens ) Interest Rate Weighted average of old loans Based on credit score and market Loan Types Federal loans only Both federal and private loans Federal Protections Retains PSLF and IDR eligibility Loses federal protections and plans

: Consolidation does not typically lower your interest rate; it is the weighted average of your existing loans rounded up to the nearest one-eighth of a percent. : You may lose specific borrower benefits associated

Are you looking to for a consolidation loan now, or are you trying to compare specific private lenders?