There are low interest student loan consolidations available for graduates who may have multiple student loan debts. Often, anyone who has a variety of student loans may have difficulty repaying these loans as multiple monthly payments can be burdensome on any college graduate and interest rates can cause these loans to cost more over their lifetime.
Many college students will often seek a low interest student loan consolidation after the grace period has ended and it comes time to start repaying student loans. A student loan consolidation can make college debt easier to manage as this consolidation loan will group all student loans into one low interest loan.
It must be remembered that not all forms of student loans will consolidate together so anyone who has multiple student loan debts needs to make sure that these types of loans in fact consolidate before proceeding. Usually, private loans cannot be consolidated with federal loans and certain types of loans like subsidized loans and unsubsidized loans will not consolidate either.
Also any student who only has two or three student loans might be better off if they keep their loans separate. Even if a low interest student loan consolidation plan is available, it may cost more over the long run since a higher amount is attached to an interest rate. It will take sitting down and figuring out the cost of repaying your loans separately versus with a consolidation loan, factoring in time and interest, before you will know which route is the best for you.
However, there is always the option of talking with your student loan lender about options available to you when it comes to student loan consolidations or other forms of student loan repayment assistance. Student loan debt may be unavoidable for some college students but there are ways to manage this debt after graduation which can make it easier to pay.