For students with different types of student loans, consolidation is an option which will simplify repayment. Consolidation offers students the opportunity to combine their student loans into one Direct Consolidation Loan with one monthly payment. The new loan will have a fixed interest rate, new terms, and an extended repayment period of up to 30 years.
You may want to estimate the amount that you can afford to pay on a federal consolidation loan based on your monthly income, using the U.S. Department of Education’s Online Calculator. Additional information about consolidation can be found on the Department of Education’s website for Loan Consolidation.