Student Loan Consolidation Calculator

Calculate your new weighted-average rate and monthly payment

Frequently Asked Questions

How is the new interest rate calculated? ▼

The Department of Education uses a weighted average: each loan's balance is multiplied by its interest rate, those are added together, then divided by your total balance across all loans. The result is then rounded UP to the nearest 1/8 of a percent (0.125%) — so your new rate is always slightly at or above the true mathematical average, never below it.

How is my repayment term determined? ▼

Consolidation loans made on or after July 1, 2026 are repaid under the Repayment Assistance Plan or the new standard plan, whose fixed term depends on your total balance: under $25,000 gets 10 years, $25,000 to $49,999 gets 15 years, $50,000 to $99,999 gets 20 years, and $100,000 or more gets 25 years. Consolidations made before July 1, 2026 used the older schedule of 10 to 30 years. This calculator uses the new standard plan terms.

Does consolidating change my total interest paid? ▼

It can significantly increase total interest paid, since a longer repayment term (say, 20 years instead of 10) means more months of interest accruing, even though your new rate is close to your old weighted average. This calculator shows the estimated total interest so you can compare directly.

Is this the same as refinancing? ▼

No — federal consolidation combines your federal loans into one federal loan at a new weighted-average rate and keeps federal protections (income-driven repayment, forgiveness programs). Private refinancing replaces federal loans with a private loan, usually at a market-based rate, and gives up federal protections. This calculator is for federal Direct Consolidation only.

How does this compare to keeping my loans separate? ▼

This calculator estimates your current combined payment by assuming each existing loan is on a standard 10-year term at its own rate, then compares that to the new consolidated payment and term. Consolidating usually lowers your monthly payment (since the term is often longer) but can increase total interest paid over the life of the loan — the comparison shows both sides so you can see the actual tradeoff, not just the new payment in isolation.

How federal loan consolidation is calculated

A Direct Consolidation Loan combines several federal student loans into one. Two numbers change:

Interest rate: the weighted average of your loans' rates, rounded up to the nearest 1/8 of a percent. Consolidation does not lower your rate.
Term: for consolidation loans made on or after July 1, 2026, the new standard plan sets a fixed term by total balance, or you can choose the income-based Repayment Assistance Plan.

Total balance	Standard term
Under $25,000	10 years
$25,000 to $49,999	15 years
$50,000 to $99,999	20 years
$100,000 or more	25 years

Example

You have three loans: $10,000 at 5.5%, $15,000 at 6.2% and $5,000 at 6.0%. The weighted average is 5.93%, which rounds up to 6.00%. The $30,000 total falls in the 15-year tier, so the payment is about $253 a month instead of about $332 on separate 10-year plans, but total interest rises to about $15,600.

Reasons to consolidate

One payment and one servicer instead of several.
FFEL and Perkins loans become Direct Loans, which can then qualify for PSLF and income-driven repayment.
A lower monthly payment through a longer term.

Reasons to think twice

Outstanding interest is added to principal, so you may pay interest on interest.
A longer term means more total interest.
Consolidating can affect progress toward forgiveness on some older plans; check your qualifying payment count first.

Consolidation is federal and keeps federal protections; private refinancing does not. Compare a private refinance with the student loan refinance calculator, estimate income-based payments with the RAP calculator, and see the effect of extra payments in the student loan payoff calculator.