Office of Student Aid : Loans : Loan Consolidation

To finance your college education, you may find it necessary to borrow from more than one loan source or lender, resulting in the financial burden of multiple monthly payments. If you find yourself in this situation, you may want to consider consolidating your loans--a process by which an approved agency pays off your existing loans and creates one new loan. In many cases, loan consolidation can be a practical student debt management tool.