Ibr after consolidating
Because the interest rate is a weighted average, rounded up, consolidation is unlikely to save you money.Consolidation simply makes keeping track of your loans easier since you’ll have just one loan to manage and one payment to make each month. If you refinance, you can consolidate several loans into one.If you consolidate loans other than Direct Loans, you can become eligible for income-driven repayment plans.
For instance, you might be able to get a much lower interest rate and shorten your repayment term.
Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns.