If you are a college graduate, hopefully you
are smarter, wiser and have landed a better job because of the
experience. But like many recent college grads, you may also have
racked up a mountain of student loan debt. In fact, the average
student loan debt among college seniors is $19,237, according to a
2006 study by the National Center for Education Statistics.
Consolidating your student loans may be a great way to manage your
debt, lower your monthly payment, extend the duration of your loan
and enable you to pay a single lender, rather than making payments
to multiple lenders.
But like many other things in life, you
only get to do it once, so before you consolidate your loans, you
should ask yourself the following questions...