There are a couple types of consolidations available for students looking to consolidate their loans. Private Student loans in general cannot be consolidated into Federal Student Loans. However, Federal Student Loans can be consolidated into Private Student Loans. There are some clear advantages and disadvantages to consolidating your loans.

Consolidating your Federal Student Loans can make your life easier, but can also increase your total repayment amount. See the below video for some more information about Federal Student Loan Consolidation.

You can consolidate your Federal Student Loans into Private Consolidation loans if you can find the right lender, repayment plan and interest rate. You can also consolidate your private loans into a private consolidation loan as well. The main advantage: you may get a lower interest rate which will lower both your monthly payment and total repayment amount. But be wary before you sign the terms as private loans don’t have the same repayment options (i.e. income driven repayment) or the ability to defer your loan payments in periods of economic hardship.