Q: Are there any fees to consolidate my student loans?

A: There are never any fees to consolidate your federal student loans, however, private lenders may charge fees for consolidating your private student loans. In this case, you should evaluate your monthly payment savings and determine if the fees are worth it or not. You should never agree to pay consolidation fees without receiving a lower interest rate on your consolidated loan than any of your existing loans, even if your monthly payment is much lower due to stretching the loan's maturity.

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