Student Loan Consolidation

Written by Seth Cotterell
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If you've ever surfed the Internet or checked email, you've probably been bombarded by ads from companies offering student loan consolidation services. I literally receive at least one student loan consolidation junk email every single day. The sheer volume and omnipresence of these ads makes it tempting to disregard the value of the service.

Do I Need to Consolidate My Student Loans?

Just because there are some overly aggressive student loan consolidation companies trying to get your business does not mean that the concept of consolidation is flawed. Consolidating your loans into a single lower monthly payment will save you money and reduce your stress levels. Consolidation is a very valuable service, if you can find the right company.

This is where things get tricky. For every legitimate, qualified student loan consolidator in the market there are a dozen less than reputable companies whose services really provide you no added benefit. The difficult part is sorting the good from the bad.

If you have a good website you've used to locate college financial aid, odds are they can help you with loan consolidation as well. Even if the site does not offer that service itself, it should steer you in the direction of a company that is trustworthy. If this does not make you feel secure enough, you can always speak to your local banker, a Sallie Mae representative, or to the federal government. The Department of Education has a hotline you can call with questions of this nature.

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