Best bank for consolidating student loans
You can only consolidate federal, not private, student loans through this program.
(Note: You cannot consolidate federal and private student loans together through the federal government, either.) You can consolidate an existing Direct Consolidation Loan so long as you have a new eligible loan with which it can be consolidated.
The "refinancing" aspect is something the government does not really offer.
Refinancing allows you to get a better interest rate on your loans than you did when you first borrowed.
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Now, let's get started on how to consolidate your student loans.
For easy reference on federal options, here's the Direct Consolidation Loan link to review that loan program.
Check out Common Bond's student loan consolidation page for more details on refinancing and consolidation options.Here's the rundown you need to determine whether student loan refinancing and consolidation is right for you.First, what does consolidating student loans really mean?When even the basic term "consolidation" means different things for different lenders, the process can understandably seem daunting.But if you're looking to save thousands on student loan interest payments -- as well as time and headaches from managing multiple monthly payments -- then understanding the consolidation process is critical.