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Your interest rate will be the weighted average of all the loans you consolidated (rounded up to the nearest 1/8 percent), and your payment should also equal the sum of all your individual payments.

Because remember, student loan consolidation is about convenience in paying multiple loans – nothing else.

Read all about Spousal Student Loan Consolidation Loans here.

To qualify, you must have at least one loan in that is in the grace period of in repayment.

This could also mean you won't qualify for student loan forgiveness programs such as PSLF. Consolidating your student loans could end up costing you more over the life of the loan if you forget a couple of things.

Immediately at consolidation, your new consolidation loan will be essentially equal to the sum of all your existing loans.

Additionally you need to be current on your payments.

Last modified 09-Jan-2020 06:07