Student loan consolidation is like a refinance, with a new combined loan paying off the old loans. A consolidation loan simplifies repayment by replacing multiple loan payments with a single loan payment. While private student loans cannot be included in a federal consolidation loan, one can consolidate the federal and private student loans separately.
PrivateStudentLoans.com recommends you consider all financial aid alternatives including grants, scholarships and federal loans
(Federal Stafford, Federal Parent PLUS, Federal Grad PLUS) prior to applying for private student loans.