Loan consolidation can be used to simplify monthly payments by rolling multiple loans into one. While you generally won’t get an interest rate break, you will have a single monthly payment for your new federal direct consolidation loan.   

Consolidation loans provide access to several alternative repayment plans besides the 10-year repayment that is standard for federal loans. These include extended repayment, graduated repayment, and income-based repayment. 

If you’re enrolled in income-based repayment, it might be simpler to have a consolidation loan, since you won’t need to submit documents about your income to multiple servicers.