Why are there more and more people choosing to consolidate their educational loans?Student loan debts consolidation is among the best options there is in debt repayment. What are the basic benefits of consolidating your loans?- Lower and more affordable monthly payment- Lower interest rate fixed for the duration of the repayment term- Improves credit rating- Extended life of the loanAside from the benefits, of course there are other things you have to know about student loan debts consolidation that can greatly help you in making a decision if you really want to go for this option or go for something else. What are these?1. If there are pros, there will also be cons. Take the time to know the advantages as well as the disadvantages of debt consolidation.2. Did your original lender give you a fee waiver? You have to find out if you’re asked to pay that fee if you move to another lend during consolidation.3. Other consolidators offer more favorable rates. Do some comparison shopping.4. Consolidated private loans don’t allow payment deferment however consolidated federal loans do.5. Consolidation voids some federal loan benefits like loan forgiveness, tax rebate and forbearance. See if you can benefits from these privileges first before consolidating your debts.6. Extending your repayment term lowers your monthly payments and interest rate but you will still end up paying more than you owe overtime.7. Consolidating government loan with private bank loans is not recommended because you will lose on some federal loan benefits.8. Private student loan debts consolidation may result to either a variable or a fixed interest rate.9. There could be pre-payment penalties when consolidating private loans.10. No fees are involved when consolidating federal loans.