Consolidation — Loan School

: You may lose specific borrower benefits associated with your original loans, such as interest rate discounts or loan cancellation benefits .

: Any unpaid interest on your old loans will be added to the principal balance of the new consolidation loan, meaning you will pay interest on a higher balance. consolidation loan school

: If you have older federal loans with variable rates, consolidating them locks in a fixed interest rate. Important Considerations : You may lose specific borrower benefits associated

: Most federal student loans are eligible, including Subsidized and Unsubsidized Direct Loans and PLUS loans. Private loans cannot be included in a federal consolidation. Important Considerations : Most federal student loans are

: The process is free through the official Federal Student Aid website. Comparison: Consolidation vs. Refinancing Federal Consolidation Private Refinancing Lender Federal Government Private Banks/Lenders (e.g., Nelnet Bank, Citizens ) Interest Rate Weighted average of old loans Based on credit score and market Loan Types Federal loans only Both federal and private loans Federal Protections Retains PSLF and IDR eligibility Loses federal protections and plans