Student Loan Consolidation

Student Loan Consolidation

Toll Free:  1-800-220-4318

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If you have defaulted on a Federal Student Loan then Loan consolidation may be an option for you.  See also Student Loan Rehabilitation.

Benefits of Consolidation

Consolidation can often STOP a federal wage garnishment of student loans and get you out of default.   This is about the only way to stop a Federal student loan wage garnishment.  In additional to getting you out of default, a consolidation can possibly get you on an income-based-repayment or Pay-as-you-earn repayment plan. Your loan holder however must agree to accept a payoff and consolidation.

Interest Rate

The interest rate on your Student Loan Consolidation is going to be the weighted average interest rate of your other federal loans.  Thus, your consolidated rate may not be lower than what you are paying now.  There is currently no cap on what the interest rate can be for consolidations made after July 1, 2013.


With a consolidation, you will likely end up paying more money in the long run.  However, if you are in default already, a Federal Loan Consolidation may be your best bet to get you out of default.

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