Consolidating Your Student Loans
If you have multiple student loans, you can get one big loan that repays all of the other smaller loans. This process is referred to as “consolidating.” When you consolidate your student loans you are no longer bound by the terms of your previous loan, rather you are bound by the terms of your consolidation loan.
You can consolidate federal student loans with a Direct Consolidation Loan. You can also consolidate federal student loans or private student loans with a private consolidation loan. However, you cannot consolidate private student loans with a federal Direct Consolidation Loan.
If you have multiple student loans, you can get one big loan that repays all of the other smaller loans. This process is referred to as “consolidating.” When you consolidate your student loans you are no longer bound by the terms of your previous loan, rather you are bound by the terms of your consolidation loan.
You can consolidate federal student loans with a Direct Consolidation Loan. You can also consolidate federal student loans or private student loans with a private consolidation loan. However, you cannot consolidate private student loans with a federal Direct Consolidation Loan.
