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Borrowers who consolidate student loans through the Federal Consolidation Loan Program can refinance one or multiple student loans into one new fixed-rate loan.

We recommend the lenders above because we thoroughly evaluated them. Can I consolidate private and federal loans together? You can also extend the term of your loan, at the same interest rate.

Soon enough, graduate school is over, graduation day comes and goes, and there you are with considerable debt and desperate for a job.

Lucky grads who come out earning decent salaries are typically among the set wooed by top engineering and tech companies, or those with which they’ve done internships.

Most borrowers will need a cosigner for this loan to meet credit, employment, and debt-to-income requirements.

Rates are typically higher without a cosigner; however, borrowers that meet these requirements on their own do not need a cosigner (but may still choose to apply with a cosigner).

Though it stretches your loan payments out over a longer time, it does make them more affordable and less stressful, so in some situations is the best decision to make.

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Should I refinance my student loans with fixed or variable interest rates? How do I consolidate or refinance my student loans? How much can I save by refinancing my student loans?In the process of consolidation, each original loan is paid in full and a new Direct Consolidation Loan is originated for the combined balance of the consolidated loans.ED determines the interest rate of the Direct Consolidation Loan by taking the weighted average of the interest rates on your existing loans and rounding up to the nearest 1/8 of a percent (0.125).One way to resolve a defaulted loan is to combine your existing federal student loans into a new Direct Consolidation Loan from the US Department of Education (ED).Even if you have only one defaulted student loan, you may obtain a Direct Consolidation Loan to resolve the default.Consolidating student loans can be tricky, and several factors need to be taken into consideration when making your decisions.But if you decide that the benefits of consolidation outweigh the drawbacks, you can find a way to make it work, whether you have federal or private loans.Your defaulted federal loan may be consolidated provided that it’s not a previous spousal consolidated loan and you are not subject to a judgment secured through litigation or an order of administrative wage garnishment on a federal student loan for which you’re requesting consolidation.Now that you are facing the stress of dealing with the repayment of your student loans, you may want to opt for consolidation.Borrowers are generally allowed up to 10 years to repay, when they consolidate Federal Stafford and Graduate PLUS Loans.However, some borrowers can qualify for the government's Extended Repayment Plan.

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