Student Loan Debt Consolidation

With a little research and persistence, it is possible to lower your student loan interest rates. It is very easy to get a student loan and the debt seem to be for a good reason – to further your education.  Even though student loans are for educational purposes, they are still causing many financial problems, when it is time repay the loan. New graduates are saddled with debt before they even finish school or get a job.

Complaints from students and graduates has caused the entire industry to come under the magnifying glass – mainly due to misleading statements and the never ending interest rates. College costs continue to rise and students are taking out loans for larger amounts that come with higher interest rates. If you are one of the many present or former students who thought it was wise to get the maximum amount of loans available and now, repayment is a serious struggle – there are steps the borrower can take to lower the interest rate on a student and the monthly payments.

Facts about student loans.

* Federal loans are generally fixed at a relatively low rate.

*Private loans have a variable interest rate – dependent on the borrowers credit status and current interest rates.

* There are several different types of loans – Stafford, PLUS, Perkins, private and federal, subsidized or unsubsidized.

* A subsidized loan does not accrue interest while the student is in school in school.

* An unsubsidized loan does accrue interest while the student is in school – whether payments are being made or not.

* Get more information about your federal loan – go to the National Student Loan Data System.

* Learn more about specific types of loans at

Information and advice about federally issued Direct Loans and individual options can be found at, the website of the Department of Education. Private student loan consolidation have to be considered by the lender. For lowered interest rates on private loans, contact your lender and ask about any options that can help to lower the interest rates as well as monthly payments. has detailed information about various loans and available options.  Students can also compare different loans and their rates, look for consolidation offers and apply for new loans.

An easy way to reduce monthly student loan payments is by consolidating the loans. Go to one lender who will give you a lower, fixed rate, most federal loans can be consolidated, including FFELP loans, FISL, Perkins, Health Professional Student Loans, NSL, HEAL, Guaranteed Student Loans and Direct loans. There are also consolidation options for private student loans.