How Do I Consolidate My Student Loans?: A Practical Guide To Simplifying Your Debt And Saving Money

You aren’t alone if student loans feel like a permanent part of your life. As of 2024, approximately 42.7 million Americans held federal student loans, representing approximately 16% of the population. Even worse, dealing with multiple servicers, different interest rates, and different payment dates can be a hassle.

This mess can be simplified with loan consolidation. This can reduce your monthly bill, make you eligible for income-driven repayment plans, and sometimes make you eligible for forgiveness programs. However, consolidation isn’t a one-size-fits-all solution — the best choice depends on your long-term needs and the types of loans you have.

In this guide, we’ll discuss how consolidation works, explain your options, and help you decide whether it’s a good idea. Ready? Let’s break it down, step by step.

This post originally appeared at DUE.