See how combining multiple student loans into one could change your monthly payment and total interest.
Educational Disclaimer: Federal and private consolidation have different rules and trade-offs. This tool provides an estimate only.
Auto-calculated from your loans above: 6.02%
New Estimated Monthly Payment
$222.24
Total Balance Being Consolidated
$20,000
Total Interest — If Loans Stay Separate
$5,964
Total Interest — Under Consolidation
$6,669
Worth noting: based on what you entered, consolidating may lower your monthly payment, but it looks like it could extend your total payoff timeline compared to your current pace. A lower payment and a longer timeline often go together — consolidation isn't automatically the better choice just because the payment is smaller.
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This calculator does not currently link to a dedicated student loan content page — we plan to build one. In the meantime, see our Debt Relief Qualification Estimator for other debt strategies.
Often, yes, especially with a longer term — but a lower monthly payment usually means paying more in total interest over a longer timeline, not less.
No. Federal consolidation combines federal loans and can preserve access to federal programs. Private refinancing can offer lower rates but generally forfeits federal protections like income-driven repayment and forgiveness eligibility.
For federal consolidation, the new rate is typically a weighted average of your existing loans' rates. Private refinancing rates depend on the lender and your credit profile instead.
Be cautious — consolidating or refinancing federal loans can affect your progress toward forgiveness programs. Talk with your loan servicer before making a decision.
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