The interest rate on student consolidation loans is the weighted average of the interest rates.

Student loan consolidation allows you to combine multiple federal student or parent loans into a single new loan with one lender. This process simplifies repayment by giving you one monthly payment instead of several, often with a potentially lower interest rate or an extended repayment term. While it can make your debt more manageable, it's important to understand how consolidation works and its potential impact on the total amount you repay.

What is Student Loan Consolidation?

A student loan consolidation program takes several existing student or parent loans and merges them into one larger loan. The new consolidated loan then pays off the balances of your original loans. This can include most federal loans, such as: