If you have student loans, consolidating debt for those loans is regulated by the federal government and offers many advantages:

• When you consolidate debt incurred in your student loans, you can reduce your interest rates, enjoy one lower monthly payment, and enjoy longer repayment terms.

• When you consolidate debt incurred in your student loans, your loans will be fully forgiven if you pass away or are disabled.

• When you consolidate debt incurred in your education loans, you enjoy a low, fixed interest rate and no fees.

• When you consolidate debt incurred in your education loans, you enjoy loan deferment options, and you incur no penalties for early repayment.

• When you consolidate debt incurred in your student loans, you improve your credit rating because your debt to income ratio is lower. If you are looking to purchase a home or car after graduating, then, consolidating your student loans can give you a better chance for a good rate on a home or car loan.

No credit checks are even needed to apply for this type of debt consolidation. Many debt consolidation companies and services offer special student loan consolidation services. These programs are all controlled by the government, but companies also sometimes add incentives and bonuses to ensure your business. A company may offer special counseling services for free, for example, or offer other bonuses.

Peter Frost is the content coordinator for leading finance related websites that offer debt consolidation advice and guidance. Find out what to look for in a credit card consolidation service today to help you improve your finances and the quality of your life.

Hopefully this debt article will help you in your search for answers to your financial problems. There are a lot of things to consider before you finally choose the right debt solution to meet your needs. Be very careful in choosing the right debt counseling service. Debt counseling will not wipe out your debts instantly but it will assist you in re-establishing your financial reputation.

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1) Budget

You need to make a budget. If you are not sure how or just not good with money, many businesses such as H&R Block, offer free financial consulting to help you put a budget together. It really isn’t that hard, and does not need to be a huge pain in the ***. You just need to get it sorted out once so you can see where you are spending your money and where you need to spend your money. Most people don’t have a clue where their money is going. Getting a budget organized puts things into a much clearer picture.

2) Plan

Planning is a great way to save money and avoid racking up your student credit card debt. Make it a point to go shopping at regular times (Monday afternoon for example). This gives you a specific time to make sure that you are ready and organized. Before you go to the grocery store, make a list and stick with it. Pay attention to the things that you know you need like shampoo, soap and food, then plan to buy in bulk when you need to restock. Heading out with no set direction will lead you to impulsive spending, getting organized and planning things out will help you stay in control of your credit card use.

3) Buy in Bulk

We noted before that it can be a good idea to buy in bulk. There is no doubt about it warehouse shopping can save a lot of money. Even if you are just a couple of guys sharing an apartment, you can always split large quantities. The key to this is only buying the things you need. Just because you can buy 32 pounds of peanut butter for $12.50 doesn’t mean you should. You can however make smart choices and buy staple foods like pasta, rice, flour etc. in bulk. Many household items are also available in larger quantities, and often at significant savings.

4) Use Coupons and rebates

No matter how you feel about them, the truth is that using coupons can save you hundreds of dollars every year. Coupons can be used at grocery stores, retail chains, any store where the item is sold. Some stores offer double coupon days, which is an extra bonus. On average, you could easily save from 5% to 15% simply by presenting a coupon. As a student you get access to many special discounts. Never be shy to ask if a store has a special student discount. In many cases simply asking can save you the tax.

One of the primary goals in managing your money as a student at college or university is to pay attention to your needs and once they are met, use any additional money for fun stuff. It is a very bad idea to use your student credit card as if it were cash.

For more tips regarding your student loan please visit BestStudentLoanHelp.com

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Although consolidating your student loans will not pay off your debt for you, it can offer a fresh start in several ways. First, the interest rate on this type of loan is the lowest available, much lower than that offered by credit cards or banks. This translates into reduced monthly payments and more of that payment going towards principle, thus eliminating the stress involved in making high payments on a loan that never seems to get any smaller.

Another way that student loan debt consolidation can give a person peace of mind is by offering a fixed interest rate. This means that the person can count on his payment being the same every month. He does not have to worry about following the loan market, hoping to get a better rate or agonizing over the fact that his payment is going to go up. In addition, the person only has to be concerned about one payment instead of several. This makes it much easier for him to ensure that he is keeping ahead of his debt.

Student loan debt consolidation gives a person more time to pay off his student loans. This means that he will have more money in his pocket every month. He can utilize this money to get further ahead in his career, thus making a higher income. Without this cushion of money, the person might have to forget about pursuing his chosen career and accept a lower-paying job in an effort to make his many loan payments. Another thing that he could do with the additional cash is save a little bit of it and use it to pay off his loan early. Both of these options translate into reduced stress and greater quality of life.

NOTE: By researching and comparing the best debt consolidation companies in the market, you will determine the one that meets your very specific financial situation.

Hector Milla runs the Best Debt Consolidation Services website – where you can see his best rated debt consolidation service. Visit for further information.

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First, for the newest students looking for loans, you have two types of loans: government guaranteed and private student loans. The government guaranteed loans have benefits that the others may, or may not have, such as:

- Preferred interest rates under 8%

This can save you a ton of money. You want to keep that interest rate as low as possible.

- Deferment options

This means you can ask for a delay in payments if you don’t have a job.

- No payment during school

If you go back to school for an advanced degree, you can stop making payments while you study.

Places to look

1. FAFSA.gov

Always check with FAFSA first. This is the main website for college student loan guaranteed by the government. Through this site, you can get Stafford loans, Perkins loans, Grad/PLUS loans, Pell grants, SMART scholarships, and more.

You’ll have to fill out a FAFSA (hence the name) but that’s not that hard. Once you have your FAFSA in, you get a report in about 1-2 weeks of what aid the government will offer you.

This is pretty basic info. Almost all students know about he FAFSA. What next? Where else can you look?

2. Your State

Look up your state website. Usually, you’ll find a link to their higher education office. Go there and see if your state offers loans to students – many do.

Your state may also offer student scholarships, tuition waivers, student loan forgiveness for certain in-demand fields, and even reciprocity if you go to a school in a neighboring state in some cases.

3. Private Student Loans

You can also get a student loan from a private lender, such as a large bank. Be careful with this group of loans. You want to be sure to check to see if you can get a government student loan first, before you go this route.

Check with your financial aid office at your university for college student loan first. If you have no other options, there are many banks that offer these loans. Just call a couple of the biggest. You may need a cosigner.

3 Extra Tips on Student Loans

- Pay Day Lenders do not offer student loans.

Stay away from these companies! They will charge you very high interest and they don’t offer any delays, or deferments while you are in school. Their interest rates are sky high. Don’t use them.

- Sell Your Car. I know, you have to get around, but do you need a new car? Sell it and get a cheap one. If you go about 8 years old, you can get a good car, and keep the price down. Maybe even pay cash or only have one year of payments.

I know it sounds crazy, but you could also ride a bike, walk, take the bus, or even carpool. That car may just be the anchor holding you down.

- Stay Away from Credit Cards.

I know it’s so easy to charge a few groceries. Or charge your textbooks. Or get a quick cash advance. Don’t do it! You don’t want to graduate with a ton of credit card payments.

If you can, always pay cash. Go to a cheaper college or university. Work on the weekends or evenings. Live at home or share. Avoid debt, and finish your degree.

Need more info? Come to Beat-Tuition.com and download my free ebook on grants and scholarships all over the US.

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