Why can't I consolidate private and federal student loans into one loan?

Can I consolidate my student loans (one in my parent's name and one in mine)?

• Two part question really: 1)I have a student loan in my name which I am paying off. Also my parents took a loan for my education which they are paying off but I am paying them each month for the monthly payment amount. Can I put their loan in my name? 2)Whether I can or can't put their loan in my name, can I consolidate the 2 loans into one to try to pay a lower interest rate?

• Answer:

  You can neither consolidate nor change the name on their loan. The only way to do what you want would be for you to have excellent credit and take out a personal loan from your bank and use it to pay off the loan in their name. You'd still have two separate loans though and personal loans will never have as good of terms as student loans.