Loan consolidation can be helpful for borrowers who want to combine their eligible federal student loans into a single Direct Consolidation Loan.
It's important to understand and carefully consider all factors before consolidating.
Learn more about Direct Consolidation Loans on the Federal Student Aid site Apply now at Student Private student loans are NOT eligible for consolidation into a Direct Consolidation Loan.
After you are done, you will know how to refinance and consolidate student loans. Compare the Best Student Loan Refinance Rates Instantly view loan options from ,000 to 0,000 using our student loan refinance comparison tool.So Fi offers borrowers both refinancing and consolidation services.Borrowers can select the loans they would like to refinance or consolidate, So Fi pays them off, and then borrowers pay off a new loan issued from So Fi.Depending upon the total balance you are consolidating, you may extend the repayment period for up to 30 years with consolidation.The extended period makes the monthly payment amount more manageable; however, the longer your loans are in repayment, the more interest you will pay over the life of the loan.Today, the answer to that question is probably yes!