At Lend EDU, we help borrowers compare the top student loan companies in one place.We put together this guide to help you get information on all of the top student loan refinance lenders without having to jump around multiple websites. Student loan consolidation: Consolidation is the process of combining your government loans so that you can make a single monthly payment. Should I refinance my student loans with fixed or variable interest rates? How do I consolidate or refinance my student loans? How much can I save by refinancing my student loans?An error on any of your credit reports could prevent you from qualifying for the debt consolidation help you need, so .You can get your free annual credit report from each of the three major credit reporting agencies — Trans Union, Equifax and Experian.Not only does that simplify your debt payments, it can also help you save money.The best way to consolidate credit card debt — and whether consolidation will work for you at all — depends on your situation, so you might want to consult a non-profit credit counselor about your best options.
Loan consolidation can also give you access to additional loan repayment plans and forgiveness programs. Refer to the complete list of federal student loans eligible for consolidation in the application.This process will also combine all the loans you refinance into one convenient payment.While a lower interest rate is good news, your new loan may not come with all the borrower benefits associated with government loans.This simplifies your bill-paying process each month plus reduces the total amount you owe to your creditors.No matter what type of debt consolidation loan option you’re looking into, it is important to understand how to consolidate debt.The following four steps will walk you through calculating how much debt you have, choosing the debt consolidation loan, setting a timeline to be debt free and teaching you how to control your spending.