the advantages consolidating student loan

according to me the advantages consolidating student loan are much like the same idea of refinancing a mortgage, or taking a home equity loan to consolidate credit card debt or pay off other high interest loans. Just about every kind of Federal Student Loan qualifies for loan consolidation including; FFELP, FISL, Perkins, Health Professional Student Loans, NSL, HEAL, Guaranteed Student Loans and Direct loans. In some instances loan consolidation is even available for private education loans as well. Loan consolidation is offered for student loans for either graduate or undergraduate schools.
To take the advantages consolidating student loan, you'll need to know whether your loans are federal student loans or private student loans. Federal student loans have the backing of the federal government and are usually known as the Perkins Loan, Stafford Loan, PLUS (Parent Loan for Undergraduate Students) or loans from the Department of Education. There are also other kinds of federal student loans, so you'll need to look at your student loan report to check on what type of loan you have. A private student loan is a loan that you or your parents took out from a private lender, and loans like this are not backed by the federal government and do not qualify for federal student loan consolidations.
It is also very possible to extend the repayment time when you go for student consolidation loans. The repayment period can be extended up to a period of thirty years! But that primarily depends on your entire education loan debt. As a result your monthly payment sum will noticeably go down. This has its own drawback as the longer you take to repay your loan the more you will have to shell out. It's entirely your own choice and also the situation you are in.