Many students have no idea what to do after graduation and they are not properly prepared for what they are about to face.
You spend 4 or more years going to college to get ahead in life and what you really end up with is an entry level salary and a ton of student loan debt.
There are ways to manage this if you know all of your options.
Here are your options including consolidate private student loans.
The first thing you have to understand is you will start having payments due on your loans once you are not longer enrolled in a school for 6 months.
This is the time they start asking you to pay on your loans and you will be paying on them for the better part of 10 to 15 years or more.
The problem is that you have multiple loans to pay on and they will all have a payment due each month.
This can get hard to manage.
The second thing you need to know before we get into how to consolidate private student loans is that you have options if you cannot afford to pay on your loans right away.
You can use a deferment to push the date that you start paying on your loans back up to another 2 years.
You can also use a forbearance to pause your loan payments at any time for 6 months for a financial hardship of some sort.
Also, if you go back to school, even just part time your loans will go into education deferment and you do not have to pay on them.
The last thing to discuss is consolidate private student loans.
You get one shot at consolidation with student loans and you want to do it right.
Make sure you get all the options you already have with deferment and forbearance to make your life easier.
You also want a comparable interest rate and the consolidation monthly payment should be less than the combined monthly payments of all your loans.
This will make your loans much easier to manage.