FAQ - Loans (Consolidation)

Financial Aid

What is loan consolidation?
- Loan consolidation is a program that allows borrowers to combine multiple educational loans into a single, new loan.
What are the benefits of loan consolidation?
- Loan consolidation may make loan repayment easier by allowing a single, monthly repayment, by providing an extended repayment period, and by setting a fixed interest rate. More details on the benefits of loan consolidation can be found on .
Who might benefit from loan consolidation?
- If you have borrowed a loan amount of $7,500 or greater and if who have loans from multiple sources, you may benefit from loan consolidation.
Who should I contact for information on loan consolidation?
- If you want more information on loan consolidation, you should contact your loan guarantor or . You can also check out 聽for an overview.
Does the Financial Aid Office consolidate loans or recommend someone who does?
- The Financial Aid Office does not consolidate loans. We recommend that all borrowers first check with the agency who has serviced or guaranteed your loan.