If you have multiple student loans, you may consider consolidating them into a single new loan, which can simplify your monthly payments. For some, refinancing to lower monthly payments with a longer term may increase the amount of interest you'll pay overall, but it might be worthwhile if loan payments become more manageable each month.

Take a look at this infographic to see if consolidation is right for you. If so, Navy Federal is here to help with your Student Loan Consolidation options.