How can I consolidate my student loans into one monthly payment plan?
Answers | 1
If they're private, they can only be consolidated with other private loans, and you'll typically then have a variable interest rate. That can be great now, while interest rates are low, but once rates rise, your payment will also increase.
You should also look into income based repayment plans for your federal loans: https://studentaid.ed.gov/repay-loans/understand/plans/income-driven
And keep in mind, sometimes consolidating means you'll have a longer repayment time. So think about your longer term plans and if you'd like to hunker down and be done with these loans sooner or continue paying a smaller amount for a longer period of time.