Is it smart to consolidate your student loans?

Is it smart to consolidate your student loans?

You can consolidate all, just some, or even just one of your student loans. Consolidating federal student loans may be a good strategy to lower monthly payments or to get out of default, but it is not always a good idea. … Consolidation loan borrowers should not be charged origination fees.

Will consolidating student loans hurt my credit?

Consolidating your student loans won't affect your credit score much. Federal consolidation doesn't incur a credit check, and refinancing has a soft credit pull. In both instances, these actions won't affect your credit score negatively.