There is no cost to consolidate Federal Student Loans.
You have to go through here: Federal Direct Loan Consolidation When you consolidate your loans, your interest rate will be an weighted average of all the loans being consolidated.
However, private loans should not be consolidate with Federal Student Loans (in most cases).If you have both, you should address each type of loan separately.Remember, there is no escaping your student loan debt, but there are options that can help you repay them in a much more manageable way.You have more options when it comes to private student loans.Do your due diligence if you want to go this route by using Credible, a marketplace for student loan refinance.
With Credible, you can receive and compare offers from most of the lenders in the student loan refinance industry by completing one simple form.If any random program or company tells you otherwise, they are out to scam you or simply may not have your best interest in mind.Second, if anyone tells you that you can lower your balance from loan consolidation, not make payments, or do anything else “magical”, they are lying to you as well.Both of them were going down a scary path with not very reputable student loan consolidation companies.In fact, one company was simply a student loan scam. If you want to pay for help, that’s fine too – there are companies that can help you.Then, there is the problem of student loan debt on top of it.