If you consolidate parent PLUS loans with other direct federal student loans, the only income-driven repayment (IDR) program that loan will be eligible for is income-contingent repayment (ICR), the least generous of all IDR plans.

You will not be eligible to enroll in PAYE, REPAYE or IBR to repay a direct consolidation loan that includes a parent PLUS loan.

Consolidating your federal loans will give you the opportunity to consolidate multiple loans into one (lower) monthly payment, and also let you choose a new repayment term and repayment plan.

If you answered “yes” to all of these, you might want to look into consolidating your loans.

Connect to the right information for student loan refinancing, student loans, and personal loans. Visit to compare your options for student loan refinancing, private student loans or personal loans.

If you have federal student loans and a) have too many different payments to keep track off or b) would like to qualify for different repayment plans like income-driven repayment or Public Service Loan Forgiveness, consolidation might be a good idea!

For example, under the Public Service Loan Forgiveness Program (PSLFP), your Direct Loan balance may be eligible for forgiveness after 120 payments if you’ve worked in the public sector that entire time.

Similarly, the Teacher Loan Forgiveness Program is available for teachers who work in schools that serve low-income families full-time for five consecutive years.

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Yet despite the appeal -- and its popularity -- student loan consolidation isn't for everyone.

Here are some frequently asked questions and answers that may help determine if it's the right move for you.

Private consolidation lenders, on the other hand, are not subject to those terms and may include variable rates and any number of fees.

What's more, some benefits of a federal consolidation loan, such as interest subsidies on deferred loans, are not available on private loans.