Cons of consolidating student loans

Today, the answer to that question is probably yes!

7 out of 10 graduates are now graduating with some form of student loan debt.

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Each of them may have different terms, including interest rates.

As part of the process, you’ll need to provide details about your existing federal student loans, and choose a federal loan servicer and repayment plan for your new consolidation loan.

You have to complete the application in a single session, so do your research before you start. You can consolidate all your federal loans or just some of them.

But that hasn't been the case for the past decade, since the government stopped issuing student loans with variable rates.

If you consolidate your loans now, your new rate will be based on a weighted average of all your loans' interest rates.