Government help consolidating student loans

If you have federal loans, the Department of Education has free programs that could help, including: These options are free.

You can learn more at the Department of Education’s Student or by contacting your federal student loan servicer. With private student loans, you typically have fewer repayment options, especially when it comes to loan forgiveness or cancellation.

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And some of the companies that promise student loan debt relief are scams.

It’s illegal for companies to charge you before they help you.

Consolidating your student loans means combining multiple loans into one loan.

Typically, people consolidate their loans to simplify monthly payments or get new repayment terms.

When you consolidate your federal student loans, you get a Direct Consolidation Loan, which has a fixed interest rate for the life of the loan.