- You can combine multiple student loans into one with loan consolidation.
- You’ll apply for loan consolidation through the federal government online or via the mail.
- When you consolidate, you’ll get a fixed interest rate that is an average of your old loans’ rates.
- Read more of Insider’s student loan coverage here.
Keeping track of multiple monthly federal student loan payments can be a headache. Student loan consolidation can help streamline the process and make it easier for you to manage your financial obligations.
What is loan consolidation?
Consolidating a loan means you are combining multiple federal student loans into one.