Consolidation Consolidation Loans reduce the total payment amount by combining outstanding student loans into one new loan.
Consolidation creates a new promissory note .
The consolidation may result in fewer deferment options and a higher interest rate. The repayment period may be up to 30 years, depending upon the amount to be repaid. To compare repayment terms between multiple standard loans and the resulting consolidated loan, refer to our repayment term comparison chart or try our consolidation payment estimate calculator . Married borrowers may consolidate each individual's loans into one loan, with certain restrictions. To view possible consolidated loan payments, refer to our chart of estimated consolidated loan payments for various loan sizes or try our consolidation payment estimate calculator .