Got student loans? We’ve got you covered with our Student Loan Smarts blog series. Our expert tips and hacks will help you save money, pay off loans sooner and stress less about student loan debt. Read the other posts in the series here—and get all the info you need to make intelligent decisions about your student loans. And while you’re at it, check out SoFi’s new Student Loan Debt Navigator tool to assess your student loan repayment options.
One of the biggest student loan myths out there is that borrowers can’t consolidate federal student loans and private student loans into one loan. It’s understandable why people think that, since this wasn’t an option for many years. But now that the choice is available, it’s important to understand whether federal and private loan consolidation is right for you – especially when there’s the potential for significant cost savings on the line.