When deciding to get a program or service that will help consolidate federal student loans, prospective borrowers must try to first learn about important facts and data on college debts. First and foremost, a borrower should realize that there are two types of student debts, and these two are the government student loans and the private loans.Private college debts are known generally to have much higher interest rates than that of the federal school debts. This is because of the simple fact that private loans are unsecured type of loans, which is unlike the federal student loans which boast of strong and stable backing and assistance from the government. Such significant federal backing means that a borrower’s government student loans will be refinanced at much lower interest rates than the private loans.Many students have both these two types of debts, and if you are one of them who actually possess these loans, you are still able to consolidate federal student loans. This means you cannot merge the government loans and the private type of debts; no consolidation of these two types of debts should be done.When it comes to going about to consolidate federal student loans, enjoy maximum benefits by doing the consolidation with a federal approved lender. If you do not know how to start looking for the right lending company, you can ask your friends who have already experienced going through the consolidation process. Perhaps one might be able to give you helpful recommendations.You can also check the internet for a list of government loan consolidation program provider. You simply must see to it that the lender you decide to employ only offers the finest conditions that go with you contract as you consolidate federal student loans.