| Choosing a repayment option does not end the | | | | though the period of repayment might extend to |
| students loan problem. The debtor still has a long | | | | even thirty years. |
| way to go. At times the debtors other bills may fall | | | | Once this has been done, the debtor can then |
| due on the same date as the education financial aid is | | | | combine all the debts to his name. This is quite helpful |
| due. This however, is no reason for the debtor to fail | | | | in that the number of creditors reduce to one. The |
| to make the monthly payments for any of the bills. | | | | debtor may choose to borrow a huge loan with a |
| The former student in cases like these has an option | | | | smaller interest rate that will pay all the smaller debts |
| of asking for an extension of the due date from his | | | | that attract higher interests. He will therefore be able |
| lender. The debtor will therefore be able to pay off | | | | to make monthly payments to one lender in most |
| other debts such as the car insurance and the | | | | cases with manageable interest rates. |
| mortgage and later on pay the education debt for | | | | Other loans that come after the first students cash |
| that same month. | | | | advancement consolidation will only be consolidated if |
| Another way of dealing with the students loans is by | | | | they were not included in the first consolidation or if |
| debt consolidation. This may be done through three | | | | the disbursement was done after the consolidation. |
| major steps. The debtor should first lower the | | | | The student should therefore seek guidance from an |
| monthly payment made towards the students credit. | | | | informed party to avoid making serious errors. |
| This way the debtor will and up paying much less | | | | |