Student loan debt is a common problem among graduates.
Both federal and private lenders recognize that lower monthly payments help may be the best option, if you don’t get the job you want immediately after graduating from colleges.
Find out more about the choices debt consolidation offers.
Check out the official government site for all the details on eligibility.
If you're consolidating with a private lender, consolidating your loans means combining and refinancing your loans into one new private loan.
You can only consolidate federal, not private, student loans through this program.
(Note: You cannot consolidate federal and private student loans together through the federal government, either.) You can consolidate an existing Direct Consolidation Loan so long as you have a new eligible loan with which it can be consolidated.
As a response to high student loan debt in this country, many online companies have popped up with the goal to offer better options.
I've taken a look at the industry to uncover what makes certain companies stand out.
Federal student loan consolidation basics How to consolidate federal student loans Benefits of federal consolidation Drawbacks of federal consolidation Private student loan consolidation (student loan refinancing) When you consolidate federal loans, the government pays them off and replaces them with a direct consolidation loan.