The potential total savings depends on how much interest you pay currently versus what you would pay with a debt consolidation loan. Consumers should look at two factors: repayment options and total interest paid. Repayment options could include no prepayment penalty, reamortization of your loan and more. These make a difference as it can affect potential fees you may need to pay. But if you can find a lender that offers flexible ways to repay your loan, it could be worth considering. And even more importantly is the total interest paid over time. The less you pay, the better. So do your best shop around and fund the best interest for you. So depending on your own financial situation and goals, be sure to carefully weigh the options before selecting a lender.