There's a key deadline in April for borrowers hoping to get student loan forgiveness

Borrowers with multiple federal student loans who request a consolidation by April 30 — which will leave them with one, larger loan — could be closer to student loan forgiveness.who request a consolidation by April 30 — which will leave them with one, larger loan — could benefit from the U.S. Department of Education's overhaul of income-driven repayment plans.

Now, the Biden administration is temporarily offering borrowers the chance to combine their loans and to get credit going back as far as their first loan payment on the oldest of their original loans in that bundle. In normal times, consolidating your student loans can be a terrible move for those hoping to get rid of their debt as your forgiveness timeline is restarted. But the Biden administration has changed that program detail through April 30.All federal student loans are eligible for consolidation, including Federal Family Education Loans, Parent Plus loans and Perkins Loans, Kantrowitz said.

Consolidating your loans shouldn't increase your monthly payment, since your bill under an income-driven repayment plan is based on your earnings and not your total debt, Kantrowitz said.Before consolidating, it may be a good idea to get a complete payment history of each loan, so that you can later make sure you're getting the full credit you're entitled to, saidYou should be able to get a history of your payments at StudentAid.gov by looking into your loan details.

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