I have 4 outstanding student loan accounts, all with the same lender, totaling approximately $40k. The interests rates vary from 3.15% to 6.55%.

Each account has one or more loans in it.

Loan 1:

• $5,200 @ 6.55% (unsubsidized)

Loan 2:

• $6,000 @ 6.55% (unsub)

Loan 3:

• $3,000 @ 5.35% (subsidized)
• $6,100 @ 6.55% (unsunb)

Loan 4:

• $5,500 @ 3.15% (sub)
• $4,000 @ 4.25% (sub)
• $9,000 @ 6.55% (unsub)

I'm pre-approved for a $40,000 refinance loan for 7 years at 5.24%, so it makes sense for all of the loans except Loan 4, which has sub-loans that have an APR less than the new rate.

I would like to consolidate all my student loans into one loan to take advantage of the lower APR (for the most of them), and also only have one payment per month.

Would it make sense to go ahead with the refinance, even though $9,500 will now be borrowed at a higher interest rate?