Consolidating private lender student loans
If you have private loans, talk to your loan servicer.
For federal loans, call the Department of Education’s Loan Consolidation Information Call Center at 1-800-557-7392.
There are several types of aid available to help you pay for your education beyond high school, including grants and scholarships, federal work-study jobs and student loans. A good way to apply for a grant is through your FAFSA form.
The first step is to complete the Free Application for Federal Student Aid (FAFSA) form at They should be your first choice to finance your education. You also can check out these other sources to find grant and scholarship opportunities: Federal work-study jobs are another way to help pay for college.
Before you consolidate your loans, find out what it could mean for your specific situation.
In addition, many states and colleges use your FAFSA data to determine your eligibility for state and school aid.
Some private financial aid providers may use your FAFSA information to determine whether you qualify for their aid. When you fill out your FASFA, you will also create an FSA ID.
When you consolidate your loans, you get a brand new loan with new terms.
If all of your education loans have fixed interest rates, it may not matter when you consolidate.
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Consolidating your student loans means combining multiple loans into one loan.