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Have you ever asked questions about student loans consolidation? Questions like; what is loan consolidation, its advantages and benefits? . Below are answers to your questions and a basic guide that can help you should you rent if you want to consolidate your students loans.

So, what does student loans consolidation entail?

A student loans consolidation is the process of combining different loans into one loan to reduce its payment per month, change the terms of the loans, change the time frame.

    Advantage of the student loan:

  1. To lower the monthly payment: lowering the monthly payment may prolong the payment time frame but it leaves you with cash flow that enables you commit to other projects and plan for things like; buying a house, retirement plan e.t.c. It also helps you focus on your career as it eases the pressure of keeping up with the payment of different loans.
  2. Easy budgeting: considering your student loans makes budgeting very easy and less complicated. Payment schedules are easily set.
  3. Financial benefits: It reduces the interest you pay over loans. It makes you open to better loan terms and condition preferable to the former ones. you can also get student loan forgiveness programs.


  1. You can serve in Americorps, for about $7400 it stipends plus $4725 for loan retirement.
  2. Peace corps volunteers can set up to 70% of consolidate student loans.
  3. Working for Volunteer in Service to America (VISTA) can get about $4725.
  4. Medical and legal services in some communities can earn you debt forgiveness.
  5. There is also a loan forgiveness program for teachers put in place by the American Foundation of Teachers.
  6. US citizens conducting medical researches can get a loan repayment of up to $35,000 per year from the US National Institute of Health (NIH) loan repayment.
When is the right time to consolidate student loans?



Although this can be done anytime after graduation; it is beneficial to plan for a consolidation early. At best, immediately after graduation. This will afford you the opportunity of your student loan company handling the difficult part of your student loans consolidation.


I hope the information will help you know the vital things you need to know. However, conduct researches before consolidating your loan. Remember, Ignorance is not an excuse for failure.