Student Loan Consolidation Calculator (U.S. System)
This calculator provides estimates for consolidating U.S. federal and private student loans. Federal Direct Consolidation Loans have specific rules (e.g., only federal loans can be included, weighted average interest rate rounded up). Private refinancing terms vary by lender and creditworthiness. This tool is for informational purposes only and is not financial advice. Always consult official sources like StudentAid.gov and individual lenders.
Step 1: Enter Your Current Student Loans
Step 2: Define Consolidation Scenarios
Federal Direct Consolidation Loan Scenario
Only federal student loans can be included. The interest rate will be the weighted average of the federal loans you included, rounded up to the nearest 1/8th of a percent. There are no fees to apply for a Federal Direct Consolidation Loan.
Private Refinance/Consolidation Scenario (Hypothetical)
Private lenders can refinance both federal and private student loans. Terms and rates are based on your creditworthiness (and cosigner's, if any). Refinancing federal loans into a private loan means losing access to federal benefits like Income-Driven Repayment and forgiveness programs.