| Due to economy uncertainties, many university and | | | | At the moment, federal and private student loan |
| college graduates are facing difficulties to pay back | | | | consolidation programs are the most popular |
| their student loans when their grace period is over. | | | | programs in the market. Under federal consolidation |
| To rescue this situation, the college student loan | | | | program, a person is allowed to combine all his federal |
| consolidation programs are offered to this group of | | | | student loans into just one debt at a lower interest |
| people. These programs involve combining multiple | | | | rate. No employment, collateral or cosigner |
| student loans into just ONE LOAN at ONE FIXED | | | | requirements needed to obtain the approval. On the |
| interest rate, with ONE REPAYMENT monthly. It is | | | | other hand, private loan consolidation programs are |
| indeed ideal for a person to consolidate his or her | | | | suitable for those who have non federal loans. These |
| student loans when the interest rate is low during | | | | programs are normally offered to people who intend |
| economy downturn. | | | | to lump their multiple private study loans together. |
| Why do we need these consolidation programs? | | | | The approval process is normally stricter as it is |
| Consolidating multiple student loans is necessary for | | | | based on the credit score of the applicants. |
| the following purposes:o Reduce the monthly student | | | | You have to be very clear that different college |
| loan repaymentso Improve the graduates' financial | | | | student debt consolidation programs are offered to |
| positions in the long runo Reduce the graduates' | | | | suit different individuals' needs. Each program has its |
| financial burden as they are paying a lower interest | | | | different eligibility requirements for the applicants. It is |
| rateo Improve the graduates' credit ratingo Make the | | | | indeed important for you to do your own research |
| debt repayment process simplero Save more money | | | | thoroughly in order to decide whether it is really |
| in the long runo Avoid the unemployed graduates | | | | worthwhile for you to consolidate your student loans. |
| from suffering financial difficulties | | | | |