Student loan consolidation is a new loan that replaces your current student loans.

government help consolidating student loans-71government help consolidating student loans-19government help consolidating student loans-52

The Federal Loan Consolidation Program covers government-backed student loans.

Private or alternative loans cannot be consolidated through this program.

Private student loans account for one-fifth of all student debt.

This article refers only to government-backed student loans.

Student loan consolidation does not raise or lower the interest rate you are already paying now.

The interest rate on your new loan is computed as the weighted average of your current rates, not to exceed 8.25%.

The new interest rate is rounded up to the next 1/8 of a point, that is, 0.125%.

Your college education is a valuable asset that will earn big returns during your career.

But the student loans that made school possible have to be repaid.

You have the opportunity to consolidate your student debt with a consolidation loan.

The only question is: What is student loan consolidation?