What’s the difference between consolidation and refinancing:
Consolidation is the act of combining multiple loans into one single loan. In this scenario, you bundle all your loans into one and make a single payment to one lender. It’s major benefit is that it simplifies your loan handling.
Refinancing, on the other hand, is the act of replacing one or more loans with a completely new loan (ideally with better terms). The goal here is to get better terms so that you can pay your loan off quicker and pay less interest.
All of the lenders listed below offer programs that may offer better terms.