How Consolidation Works

Learn everything you need to know about student loan debt consolidation here. We'll explain what it is, who qualifies, and how to sign up.

About Student Loan Debt Consolidation

Student loan debt consolidation involves taking out a new loan, usually with a much lower interest rate, to pay off your existing student loans. Student loan debt consolidation is sponsored by the government in the case of federal loans but still handled by private lenders. We offer both federal and private student loan debt consolidation on our website. You can use student loan debt consolidation to lower your interest rates, reduce your monthly payment burden, or extend your repayment term.

Qualifying for Student Loan Debt Consolidation

You will need to meet the following criteria to qualify for student loan debt consolidation:

• Have not previously consolidated your loans
• Are in a repayment or grace period
• Are no longer enrolled in school more than half time

Requesting a Student Loan Debt Consolidation

You can sign up for student loan debt consolidation in a few simple steps:

1. Complete our short, online form. Our form process can be completed entirely online, thanks to our electronic signature technology. We do not require you to know the details of your student loan portfolio at the time of requesting.
2. One of our representatives will contact you. If you sign up between the hours of 8 AM-10 PM EST, a student loan debt consolidation representative will contact you within 15 minutes. The rep can answer any questions you may have and complete the process.
3. Your loans are consolidated. Once we have the details of your student loan portfolio, we will send checks to your lenders to pay off your existing loans. This process usually takes a few weeks.
4. You make one monthly payment to your consolidation lender. After you consolidate, you will make one payment each month to your consolidation service. You can even sign up for automatic debit so you never have to write another check again.