Federal Loan Consolidation

A consolidation loan allows you to combine all your federal student loans into a single loan. Consolidation loans have a fixed interest rate based on the weighted average of the interest rates of the loans being consolidated. Consolidation is available only after the student is no longer enrolled. Remember that although a consolidation loan can simplify loan repayment, it might also increase the total cost of repaying your loans. For details visit or call 1-800-433-3243.

Private Loan Refinancing

A refi loan combines all your private student loans and possibly federal student loans into one loan and one payment with an interest rate based on your current situation. This may provide a more manageable monthly payment amount or possibly even reduce the total amount you pay for full repayment.

Comparing Refinance Options

The INvestEd Refi Marketplace is a tool that allows you to compare actual rates from multiple lenders and provides the information you need to make the right decision. INvestEd works with Indiana families to help them make responsible decisions in the refinancing process.

To find your loan options, click above on the INvestEd Refi Marketplace link.

Important information as you consider refinancing:

  • Identify all your current loans including lender, servicer, type of loan, interest rate, borrower benefits, repayment options, etc.
  • Understand that you may need a cosigner to refinance your loans.
  • Refinancing is not always the best solution, so review the possible rates and overall costs to determine if this is the right choice for you.

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