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Consolidate Student Loans and Save

No one wants to be straddled with debt after years of being in the classroom training to become a doctor, business person or other professional. But that’s the situation facing many graduates today. Adding to the fact, securing your first job right out of college can be a real challenge--even for the most arduous job seeker. With only a six month grace period before student loans go into repayment, students often face having to pay back loans without any real job or financial security. If this is you, don’t worry. Many reputable companies online, and in your community, consolidate student loans for borrowers just like yourself.

In many cases, you do not need a co-signer, and you don’t have to have perfect credit. However, you should be informed—fully aware of the amount of debt you owe and when it is due for payment and at what rate—and ask the right questions along the way. While a co-signer and perfect credit are not a necessity, they help you get the best rates for your loans. If you are looking to consolidate student loans, here are a few useful tips to get you started and back on the road to financial stability.

How to Consolidate Student Loans

Students consolidate student loans for a number of reasons, including wanting to centralize their loans into one bill or lower their monthly payments by extending the term of the loan. Students may have up to 30 years to repay a consolidated loan.

According to Lending Tree, “With a consolidation loan, you may be able to:

  • Lower your monthly payments
  • Arrange a longer period of time to repay your debts
  • Obtain a lower-interest-rate loan
  • Get the security of a fixed-rate loan”

Many lenders offer alternative repayment plans, which you might not otherwise have had access to under your original loan agreement. If your student loan is subject to a variable interest rate (more common among private student loans), you may also be able to lock in a fixed interest rate, which means your interest rate cannot change—ever!.


Federal Student Aid, an office of the U.S. Department of Education, asks students to carefully consider whether loan consolidation is good for them. According to the office, “If you increase the length of your repayment period, you'll also make more payments and pay more in interest.” This is why you must calculate the difference between your current monthly payments and what monthly payments would be if you consolidated your student loans.

Where to Turn First to Consolidate Student Loans

Ready to consolidate student loans? Deciding where you want to turn can be challenging. But with a little legwork, you can find a company that can help you simplify your payments. It’s easy to find student loan consolidation for business grads at This web page connects you with individual and institutional investors so you can save money on your student loans. According to official reports, the company plans to fund or refinance as much as $100 million of student debt by the end of 2014.

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