



The best way to lower your student loan interest rate and monthly payment is to refinance your student loans. This student loan calculator shows you whether you will save more money through student loan consolidation or student loan refinancing. You can also consolidate your federal loans (not private student loans) into a Direct Consolidation Loan with the federal government. Rather, your monthly payment is equal to a weighted average of the interest rates on your current federal student loans, rounded up to the nearest 1/8%. Importantly, student loan consolidation does not lower your interest or monthly payment.There is no fee for student loan consolidation.Student loan consolidation is a program through the federal government, not a third party company.The Setup: A student loan company will, for a fee, consolidate your student loans and lower your monthly payments. If you receive an unsolicited, online message requesting immediate payment to the IRS, you can report the message to Student Loan Consolidation Scam.You can file a complaint with the Federal Trade Commission (FTC) and add "IRS Telephone Scam" to the complaint description.You can report the scam to the Treasury Inspector General for Tax Administration or call 1-80.If you think you may owe federal taxes, you can call the IRS at 1-80 or visit the IRS website for help. If you receive a “phishing” email, you should know that the IRS will not request personal or financial information by email.The IRS will not threaten you with arrest or deportation for not paying your taxes.If the caller demands a wire transfer, you should know that you’re not speaking with the IRS.The IRS will never demand immediate payment or threaten arrest.The IRS will always contact you first by mail before calling you. The IRS doesn’t simply call taxpayers about income taxes.If you do not make immediate payment, the caller says that you will be arrested or face a lawsuit. (You may receive a similar phone call regarding Social Security tax as well). The Setup: You receive a phone call from someone claiming to be an IRS agent who claims that you owe unpaid income tax. Report the scam to the Consumer Financial Protection Bureau (CFPB).

