Best Consolidation Programs in 2025

What Is Consolidation?

Consolidation is a strategy that merges money owed to multiple places into one monthly payment. There are several types of consolidation options available, including but not limited to:

• Consolidation Loans: A personal loan used to pay off multiple things at once. Offered by banks, credit unions, and online lenders.
• Balance Transfer Credit Cards: Cards offering low or 0% interest for a promotional period. Ideal for credit card consolidation.
• Management Plans: Offered by nonprofit credit counselors. Not a loan, but a structured consolidation repayment plan.

Sample Loan Scenario

For a $15,000 loan with a 36-month repayment term at an 8.25% APR (which may include an origination fee), the estimated monthly payment would be about $472. Over the full term, the total repayment would be roughly $16,992. Your actual APR and payment amount will vary based on your credit profile, loan duration, and other eligibility factors.

Loan Structure Overview

Personal loans for consolidation typically offer repayment periods between 24 and 60 months (2–5 years). The exact monthly payment is influenced by both the loan amount and the repayment schedule chosen, giving borrowers flexibility to fit their budget and goals.