Student Loan Consolidation Calculator
Weighted-average rate, new payment, and lifetime interest change.
Your Student Loan Consolidation Calculator Result
Generated from the inputs below — a record you can revisit, or share with anyone helping you plan.
Your detailsInput Parameters
Your Federal Loans
Comparison
Assumed term if you kept paying these loans separately
New Consolidation Loan
Federal consolidation terms run 10-30 years depending on total balance
Weighted average of your loan rates, rounded up to the nearest 1/8%, per federal consolidation rules.
A longer consolidated term usually lowers your payment but raises total interest paid.
Compared to paying all loans separately over 10 years.
Analysis
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Open calculatorStudent Loan Consolidation Calculator: Blended Rate & New Payment
This student loan consolidation calculator combines several federal loans into one Direct Consolidation Loan. It shows the resulting interest rate, new monthly payment, and how total interest compares to paying each loan separately.
Worked example (the defaults): three federal loans totaling $27,000 at a balance-weighted average of 6.50% consolidate into a single loan at that same 6.500% rate — federal rounding lands on the same figure here since it's already a clean eighth of a percent. Stretched to a 12-year consolidation term, the new payment is $270.52, about $36 lower per month than paying the three loans separately over 10 years — but the longer term means roughly $2,144 more in total interest over the life of the loan.
That trade-off — lower payment now, more interest overall — is the core decision in consolidation. To see the full schedule of your new loan, run the total balance and blended rate through the Student Loan Amortization Calculator. Comparing consolidation against a private refinance? Note that refinancing uses a lender-set rate, not the federal weighted-average formula shown here.
How the Consolidated Rate Is Calculated
Federal Direct Consolidation does not let you negotiate a rate. It is set by formula per CFPB consolidation rules and 34 CFR § 685.220:
- Take the balance-weighted average of your existing loans' interest rates
- Round the result up to the nearest 1/8 of a percent (0.125%)
That rounding only goes one way — up. Consolidation can never lower your blended rate. Any savings come from stretching the term, which lowers the monthly payment at the cost of more total interest.
When Consolidation Actually Helps
Consolidation is a payment-simplification tool, not a rate-discount tool. It is worth doing when you are juggling multiple servicers and want one bill, when you need access to an income-driven repayment plan that requires Direct Loans, or when consolidation is part of your path out of default. It is usually not worth doing just to lower your rate — the rate can only go up or stay flat.
One thing consolidation resets: if you have made progress toward Public Service Loan Forgiveness or income-driven forgiveness, consolidating creates a new loan and can restart the payment count. Check your standing with your servicer before consolidating if forgiveness progress matters.