Getting funding is often a simple matter of filling out the right forms and waiting for the federal government and your college institution to offer you an aid package. You begin the student loan process by completing a free form from the federal government that stakes out how much you are in need for student loans. Once this is done you can begin to pick and choose options presented to you. There are also private funding sources, such as banks, for student loans that can help make up the difference between what you need for living expenses and your tuition.
However, as with all loans, student loans will eventually need to be paid off. Consolidating your loans into one large sum can help you save money through one flat interest rate and not having to deal with multiple bills each month after your grace period has expired after graduation.
Nevertheless, depending on the source of your student loans, consolidation may not be possible. As a general rule, private student loans and federally subsidized loans cannot be lumped together. The funding sources are incompatible and the interest rates from the two sources are often wildly different. Converting the high interest private loan into a low interest federal loan is not possible.
Your federal loans are already consolidated since they are issued by the federal government. Consolidation is typically a concern for private funding sources. Consult with your banker to determine what options are available to you. A consolidation loan may be possible to reign in all of your bills under one umbrella. The best way to deal with consolidation is to seek private funding from the same source. Loans can often be renewed with banks you have a history with but due to changes in how banks lend money, you may need to search elsewhere for sources of funding. Be sure to read the terms and conditions of your private loans when trying to consolidate your debt.
Maccsl.org is a free resource for college students and people that need funding. We provide a wide variety of resources including scholarships for high school students, student loans without cosigner, and grants.