Combining several loans into a new loan with one payment.

A new loan that is created by combining the repayment of two or more student loans to reduce the amount of monthly payments and extend the loan repayment term. Merit-Based Scholarship – A scholarship awarded primarily on the basis of the student's academic achievement, special talent, and/or community service.

A loan program that allows a borrower to combine various educational loans into one new loan. By extending the repayment period (up to 30 years depending on the loan amount) and allowing a single monthly payment, consolidation can make loan repayment easier for some borrowers.

see Debt Consolidation.

Refers to two different scenarios: Combining two or more loans into one new loan with better terms. Refinancing an existing loan and creating a new loan with better terms.

the consolidation of a variety of smaller loans held with different providers into one larger loan with a single lender.

The combining of a number of loans into a single new loan. Usually done to gain more favourable terms e.g. lower cost repayments or longer time to pay.

loan that combines and refinances other loans or debt.

An entirely new loan combining the repayment of two or more student loans, reducing the amount of monthly payments and extending the loan term.

A refinancing program for certain student loans that combines these loans with new terms over an extended period of time.

See Consolidation Loan.

The combining of a number of loans into a single new loan. Consolidation typically extends your repayment period and lowers your monthly payments, thereby greatly increasing the amount of interest you pay over the life of your loan.