Some private financial institutions offer a student loan consolidation program. Consolidation may be available to you if your eligible student loans total more than $7,500. This service permits borrowers to reduce monthly payments and pay only one lender for all their student loans. Consolidation lowers monthly payments, but increases the total loan repayment amount because of a longer repayment period.

Contact the Office of Financial Aid if you are considering consolidation or have any questions about the consolidation of your Perkins Loan. We will inform you of any cancellation benefits that would be lost if your loan is consolidated.