Students with a large amount of debt may find that student loan consolidation is going to benefit them in getting their student loans into a more manageable place, by lumping all of their debt into one sum. This can help many college graduates but it may not be the best option for everyone.
College graduates with a large sum of debt are usually the only ones that stand to benefit from a student loan consolidation. Multiple student loans and multiple interest rates may pile up and cause more trouble then a college graduate needs to bear, but student loan consolidations are not perfect.
Even a low interest student loan may be costly over the long run, as a large amount of debt with a low interest rate, can cause costs to increase. Many people that only have a few forms of student loan debt will benefit from keeping them apart, but it varies.
The best option for someone with student debt is to sit down and figure out how much they will pay in student loan repayments, factoring in time and interest, and then do the same, using averages on student loan consolidation rates, if they were to in fact get a consolidation.
Once you have this information it will make deciding on a student loan consolidation easier and show you your best option