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Under what circumstances should a school loan consolidation be considered?

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Answer:

School loan consoidation will often increase the total amount you spend on your educational loans. This is because while consolidation neatly packages your loans into a single monthly payment, the time to pay back the loan is often extended meaning that you will pay interest for many many more years.

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Relevant answers:

What does school loan consolidation do for you?
A school loan consolidation will allow you to borrow money in a lump sum and pay back on varaible terms. This will help you with expenses for school such as tuition and books.
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One pro associated with school loan consolidation is that a person can get all of their loans into one with a set interest rate. On the other hand, this means that a student might get a higher...
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