So, the interest rate on a consolidation loan may be higher than the underlying loans.
It's important to understand and carefully consider all factors before consolidating.A cosigner is someone who shares responsibility with the borrower for repaying the loan.The cosigner doesn’t have to be a relative; he or she can be any adult who meets the eligibility requirements. Should I refinance my student loans with fixed or variable interest rates? How do I consolidate or refinance my student loans? How much can I save by refinancing my student loans?Student loan refinancing: Refinancing is when a student loan lender buys out your existing loans, and gives you a single new loan with a potentially lower interest rate.