| Most people finish college with debt in the form of | | | | dealing with multiple monthly payments, and different |
| student loans. If you have multiple loans from multiple | | | | lenders and various terms. Typically the consolidated |
| lenders, and you are dealing with different payments | | | | loan has a lower interest rate than all the various |
| and terms, student loan consolidation is worth | | | | loans, therefore you will be able to save money over |
| considering. | | | | the term of the loan. |
| When reviewing student loan consolidation programs, | | | | For professionals receiving entry-level positions after |
| you should compare the interest rates. You should | | | | graduation often find that the salary does not pay |
| compare the interest rates of existing loans with that | | | | enough to meet all living expenses and multiple |
| of the consolidation package. Take into consideration | | | | monthly payments to multiple student loans. Falling |
| the overall amount of interest that you are paying on | | | | behind on student loan payments can negatively |
| all of your loans. | | | | affect your credit rating and cause your tax refund |
| With a mixture of different interest rates, you may | | | | to be confiscated every year. If things get out of |
| benefit from consolidating these loans in order to | | | | hand, they can garnish wages. |
| achieve one low interest rate. | | | | Wage garnishment laws differ from state to state, |
| The best time to begin thinking about consolidating | | | | and some laws are just obscene. Wage garnishment |
| student loans is while you are still in school. The best | | | | should be avoided. |
| interest rates and repayment terms are typically | | | | It's best to consolidate now in order to avoid the |
| offered to students that consolidate before | | | | potential negative consequences. If you consolidate |
| graduation. If not, there are programs that offer | | | | right away, you are taking action to solve a problem |
| consolidation during the grace period or after leaving | | | | and get your finances in order. |
| school. | | | | You make one monthly payment to one lender, for |
| Consolidation of student loans can simplify your | | | | all the money loaned to consolidate the loan. You get |
| budget significantly. It is much easier to make one | | | | more favorable terms. In addition you save money, |
| single monthly payment to one lender instead of | | | | save time, and pay student debt. |