The student loan consolidation is the particular merging of several student loans, and is done to save lots of money on interest and for the convenience of one payment instead of several ones. The student loan consolidation is a mystery to numerous college students and also graduates. The the fact is, however, the consolidation loan could help you save much money. Also, you can pay back your debt faster which means your college years aren't chasing you in your retirement years. Exactly what a relief loan loan consolidation provides students. There are lots of ways you could get a consolidation loan. You can find federal loans, a bank or perhaps a private lender, but no matter what you choose to do so; consolidation will use a big effect on getting away from college under their own debt. The idea is that it takes only one payment each month, so you will probably pay your debt off faster along with lower monthly payments than you imagine normally.