Consolidating older federal loans (like FFEL or Perkins loans) can make them eligible for programs like Public Service Loan Forgiveness (PSLF) or various income-driven repayment (IDR) plans.
For those with private loans, consolidation (often called refinancing in the private sector) allows switching from a variable interest rate to a stable fixed rate. Important Considerations for 2026 Loan consolidation - American Psychological Association consolidation student loans
Instead of managing multiple lenders and due dates, you have one streamlined bill to track. Consolidating older federal loans (like FFEL or Perkins