Consolidating college loans guide
The Federal Direct Consolidation Loan program does not consolidate private loans into Federal loans.
However, several banks and services do allow you to combine your Federal and private loans into one payment.
Or, are your finances pretty tight and you to know what you owe each month, as with a fixed interest rate?
The benefits of refinancing your private student loans are typically two-fold.
First, you get a single monthly payment for all of your previous private student loans.
A variable rate, on the other hand, will fluctuate according to the economy.
As such, sometimes you’ll enjoy a very low interest rate – and other times it may rise significantly.