Private College Student Loan

Can I consolidate both Federal and private student loans?

I have about $23k in student loans with a little more than half being federal. I am not too familiar with consolidation so I am wondering if this is something I should do? And the companies that consolidate both federal and private?

Public Comments

1. Private loans cannot be consolidated with federal loans, no. The only way really to do that is to take out a brand new loan to pay off all the old ones. That would be a personal loan with most likely far worse terms and you'd have to have excellent credit to even be considered.
2. With only 23k, you probably don't need to consolidate unless you're having trouble finding a job. The monthly payments from that shouldn't be too high. But no, you can't consolidate them together. Consolidation reduces monthly payments by combining multiple loans with a shorter repayment time into one loan with a longer one.