When you consolidate your student loans, you may be able to lower your monthly payment if you qualify for a lower interest rate and/or extend your repayment term.
To learn more and determine if you qualify, please call our Repayment Assistance Department at 1-800-STUDENT.
Learn More Before deciding if consolidating your student loans is right for you, we recommend you consider the possible benefits and impacts of a consolidation loan and how it may fit with your specific situation and needs.
If you choose to consolidate while you are still in school or during your grace period, you will lose any remaining grace period on the loans that you are consolidating, and you will begin making payments approximately 30-45 days after your loan is disbursed.
A repayment period is the period of time during which scheduled payments are required to be made to repay the principal balance and interest on a loan.
During that time, we complete the credit review process, you (and your cosigner, if applicable) will sign the loan documents and we will ask you to obtain payoff statements from your current loan servicers.
If you prefer, we can schedule a call with you and your current loan servicer(s) to verify the loans you want to consolidate.
You'll have the option to choose between a fixed or variable interest rate.
If you have a fixed rate loan(s) and are considering refinancing your loan(s) into a variable rate consolidation loan, you may receive a lower interest rate, but your rate may change if the rate index changes.
If you choose to consolidate your federal student loan(s), the features and benefits associated with those loan(s) will not apply to your new consolidation loan.