When you graduate from college, one of the first things you're going to to consider is the best way to repay your student loans. You’re likely to start getting mailings about student loan consolidation programs when the repayment period for your loans approaches. Depending on your situation, consolidation may or may not be a good idea. 

The following student loan consolidation tips can help you figure out how a consolidation program can fit into your repayment plan.

• Be sure you understand the repayment terms of the new loan before going through with a consolidation.
• Find out if you have to give up deferment and forbearance benefits associated with federal loans if you include them in a consolidation program.
• Keep in mind that a lower monthly payment doesn’t necessarily translate into less money paid back.
• Make sure that you aren’t eligible for a program that could lead to forgiveness of your government student loans before you consolidate them into a private loan.
• Shop around for the best interest rates before selecting a student loan consolidation program.

You want to repay your loans as soon as possible. Let Exchange Place match you with up to four providers of student loan consolidation services in New York and New Jersey.