Consolidating older federal loans (like FFEL or Perkins loans) can make them eligible for programs like Public Service Loan Forgiveness (PSLF) or various income-driven repayment (IDR) plans.
For those with private loans, consolidation (often called refinancing in the private sector) allows switching from a variable interest rate to a stable fixed rate. Important Considerations for 2026 Loan consolidation - American Psychological Association consolidation student loans
A key feature of student loan consolidation is the by combining multiple loans into a single Direct Consolidation Loan with one monthly payment. Core Features of Consolidation Consolidating older federal loans (like FFEL or Perkins