Loan Consolidation

Upon leaving school, a student may want to consider loan consolidation. There are federal programs that enable students to combine federal loans into one new loan with a single payment.

This payment may be lower than the sum of payments required if the loans were in separate simultaneous repayments. The new loan will be held by a single lender, a second benefit of loan consolidation. However, additional costs are involved in the consolidation and the repayment period may be longer.

For more information, contact your guarantee agency.