Studentloanborrowerassistance.com says that a borrower can consolidate with the government more than once if you have new loans that were not consolidated in the first consolidation loan. Can a borrower take just one course, take out a federal loan to pay for it, and then consolidate that loan with previously consolidated federal loan debt? If so, how would the new interest rate be determined? My old loan is consolidated at 6.5 percent. It would be helpful to have a lower interest rate.