Student loan consolidation is a practical repayment tool that combines your student loans into one master loan, significantly reducing your monthly payment (up to 50% in some cases!). Take a look at how much you can save each month with our student loan consolidation calculator.
Federal Loan Consolidation
Consolidating your federal student loanscan reduce your monthly payment. You can e-Sign your application online and be finished in minutes.
Private Loan Consolidation
Some private student loan program offers interest rate reductions for on-time and automatic payments and there are no pre-payment penalties.
How much can you save each month?
If you consolidate student loans right now, you could save hundreds of dollars a month. Here's a quick chart showing how much you could save on your monthly payments:
| Total Loans | Current Payment | After Consolidation | Monthly Savings |
|---|---|---|---|
| $30,000.00 | $345.24 | $229.00 | $116.24! |
| $40,000.00 | $460.32 | $277.63 | $182.69! |
| $50,000.00 | $575.40 | $347.04 | $228.37! |
| $75,000.00 | $863.10 | $488.94 | $374.16! |
| $100,000.00 | $1,150.80 | $651.93 | $498.88! |
| Consolidate Your Student Loans! |  | ||
Savings shown are based on the current Stafford Loan interest rate of 6.8%; borrowers in grace periods, with student loans other than Stafford (i.e. PLUS or Perkins loans), or with Stafford Loans older than July 1, 1998, will have different interest rates.
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