Combination is similar to refinancing a loan. You could combine all, a few, if you don’t one of their student loans.

Direct consolidation finance are actually really the only version of federal beginner integration loan. Under the Head Loan Combination Program, you could combine any kind of particular federal student loan towards the another Direct integration financing. Funds that are not entitled to integration become county otherwise private fund which aren’t federally guaranteed. You’re and additionally ineligible so you’re able to combine if your finance have been quicker to wisdom (if you don’t vacate the new view) or if discover a salary garnishment buy against your.

Interest rates to have integration loans is repaired. The fresh fixed rates is dependant on brand new weighted average of interest levels to your mortgage in the course of integration, round to new nearest you to definitely-eighth off a percentage section. The speed should not exceed 8.25% getting consolidation financing ahead of .