Student loan consolidation is the process of unifying several loans with different rates and terms into a single loan with a single payment.
The blended interest rate is determined by calculating the weighted average interest rate of the original loans (meaning higher balance loans have greater impact).
Fill in your loan amounts, credit card balances and other outstanding debt.When you refinance multiple loans, the lender will evaluate your current financial profile to provide a rate that reflects your financial progress since you originally took out the loans. We’ve put together a library of essential resources (like how-to guides, comparisons, and calculators) to help you make better choices when it comes to refinancing student loans. Browse Resource Library This was my second time refinancing my loans and it was super easy with earnest!Whereas consolidation just streamlines bills, refinancing also shrinks them. The entire process from quote to signing and setting up my automatic payment.Consolidating student loans does not affect the amount of interest you pay—it just simplifies your payments.Refinancing student loans, on the other hand, is a step beyond consolidation.