This is a process in which students take multiple loans with different terms and payment schedules and combine them into just one loan with one easy monthly payment. (cedaredlending.com)
Student loan consolidation is a way of combining multiple loans into a single loan, but the amount you owe is the same. (lendkey.com)
This means that applying for multiple loans at once can lower your credit score by a few points, which could impact the interest rate you're quoted on later loan applications. (finder.com)