Consolidate Your Student Loans

When you refinance your student loans, you may be able to put more money back into your budget.

Private Consolidation Loan

By consolidating federal and private student loans, you may be able to:

  • Lower your interest rate
  • Lower your monthly student loan payments
  • Simplify with one loan and one monthly payment
  • Obtain a loan without a cosigner

Is student loan consolidation right for you?

Variable Interest Rates


(3-Month LIBOR + to 3-Month LIBOR + )

Fixed Interest Rates


10-year term


20-year term

Lowest listed APRs include a 0.25% rate reduction for automatic payments

View APR Examples APRs reflect interest rates as of

Your Student Loan Consolidation Simplified

  • Step 1

    Apply in 15 Minutes or Less

    Apply from your computer, smartphone or other mobile device, or call us at 1-800-STUDENT anytime 24/7.

  • Step 2

    Select Your Interest Rate Type

    Choose from a fixed or variable interest rate.

  • Step 3

    Verify the Loans You Want to Consolidate

    We can verify your loan details with you and your current loan servicers at one time.

  • Step 4

    Sign and Accept Your Loan

    Easily sign your loan documents and accept your loan terms online.

Is Student Loan Consolidation Right for You?

Common Questions

Student Loan Consolidation Features

1. What is a private consolidation loan?

A private consolidation loan is a private student loan that combines and refinances multiple education loans into one new loan with a new interest rate, repayment term and monthly payment amount. This could result in a lower interest rate and/or a lower monthly payment. If you are extending your repayment term, this could result in an increase in your total cost over the life of the loan.

2. Am I eligible for a private consolidation loan?

To qualify, you must:

  • Be a US citizen or permanent resident with a US-based address.
  • Be 18 years or older at the time you apply.
  • Pass a credit check.
  • Have no more than $150,000 in aggregate student loan debt. Higher limits may apply for specific fields of study.
  • Have verifiable income sufficient to support your debts and show a positive repayment history.
  • Be the primary borrower on the loans you want to consolidate.

3. How much can I consolidate?

Subject to credit approval, you can consolidate up to the aggregate amount of your education loan debt. Maximum limits may apply. The minimum consolidation loan amount is $5,000.

4. Do I have to consolidate all my loans?

You can choose to consolidate one, some or all of your eligible student loans. We recommend you compare your current loan terms against the consolidation loan terms. For example, you may not want to include loans with a lower interest rate than the consolidation loan. Find out if student loan consolidation is right for you.

5. Are there any loans that aren't eligible for consolidation?

Yes. The following student loans aren't eligible for consolidation:

  • Loans for K-12 education,
  • Post-graduate loans (e.g., bar exam loans, residency loans),
  • Loans that weren't used for qualified education expenses,
  • Loans taken out while enrolled less than half-time and
  • Loans originated and/or serviced outside of the United States

6. Can I change my mind and reverse the consolidation after it is complete?

You will have 30 days, from Approval Disclosure, to accept the loan terms and a three-day right-to-cancel period, following Final Disclosure, before the consolidation is complete. However, once your loan is disbursed, and we pay off your existing loans, the process cannot be reversed.

7. Can I consolidate loans that I have previously consolidated?

Yes, you can include a prior consolidation loan if the loans you consolidated were used solely to pay off qualified higher education expenses and they meet the minimum loan amount of $5,000.

8. Can I add a loan to my consolidation loan once it has been approved?

Once you've received the Approval Disclosure and accepted the loan terms, no additional loan(s) can be added. If you need to add a loan, you can cancel your existing application and reapply with the additional loan(s).

9. How long does it take to get a consolidation loan?

Once you apply, it can take from 30 to 45 days to process. 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.

Once these steps are complete, we will notify you when your loan(s) are consolidated and provide your new minimum monthly payment amount and due date. Please continue making your monthly payments until we notify you that your consolidation loan has disbursed.

10. Do I need a cosigner?

Students may have the option to apply with a creditworthy cosigner. By applying with a creditworthy cosigner, you may receive a lower interest rate.

11. How is my rate determined?

Your interest rate will be based on your credit history, your choice of a fixed or variable interest rate, and your cosigner's credit history (if applicable).

12. What is the difference between a fixed interest rate and variable interest rate?

  • A fixed interest rate is set during the time of application and does not change during the life of the loan.
  • A variable interest rate may change quarterly during the life of the loan, if the 3-Month LIBOR changes. This may cause the monthly payment to increase, the number of payments to increase, or both.

13. What is an Auto Debit Reward?

Get a 0.25% interest rate reduction when you are enrolled in automatic payments during repayment. To enroll for automatic payments, complete the enrollment form online or call us at 1-800-STUDENT to request a copy of the enrollment form, complete it and mail it back to the address on the form.

Learn More

Student Loan Consolidation Repayment

1. Can I consolidate while I am still in school?

Yes. You can choose to consolidate while you are still in school, during your grace period or after your grace period expires. 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.

2. What is my repayment period?

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. Your repayment period can be 10 or 20 years, based on your creditworthiness. View APR Examples

3. When is my first payment due?

Your first payment will be due approximately 30-45 days after your consolidation is complete and the loan is disbursed.

4. Is there a penalty for paying off early?

There is no pre-payment penalty. Making additional payments can help you lower the total cost of your loan.

5. Can I defer payments?

If you go back to school and are enrolled at least half-time, you may be eligible for an in-school deferment. In addition, you can also defer payments while:

  • On active military duty (up to 3 years)
  • In public service with certain eligible organizations (up to 3 years)
  • In a health professions residency program (up to 5 years)

Learn More

6. What if I need help making my monthly payments?

If you are experiencing financial difficulties and you are unable to make your student loan payments, we have options to help. To learn more and determine if you qualify, please call our Repayment Assistance Department at 1-800-STUDENT.

Learn More