Private College Student Loan

Private Student Loan Consolidation?

I have a Private Student Loan from a bank with a Variable Interest Rate. Since the rates are low now, I want to convert it to a Fixed Interest Rate. Is that a considered Loan Consolidation? What companies help with this and who do you think is best? I have found info for Federal Loans, but not for Private Loans which is what I need.

Public Comments

1. Wow, you are really confused. What consolidation means is, you are taking two or more loans, and pay them off with an even bigger loan. What you mentioned in the second sentence is called refinancing or repurchasing depending on how you do it. However, it sounds like you can't consolidate because you only have ONE loan. You just need to talk to your lender to see if they are willing to repurchase your loan under a fixed rate.