The consolidation of college loans can be a tremendous lifesaver in the majority of cases. A college education is expensive, and it is nearly impossible to get a degree without applying for at least four or more college loans. However, these academic loans don’t have to take over your financial stability for years on end.College loans can generate huge amounts of debt that seemingly hits you from nowhere. It is super easy for you to forget that you are generating levels of debt while enrolled in school. The majority of student loans are offered on what’s called an academic deferment basis, in other words that, you’re not obligated to make a single payment until your college career is completely finished. The majority of these loans also charge interest while you are in school, although as previously mentioned no payment is required.Six months after graduation, or less in some cases, your student debt is ready to begin being repaid even if you’re not. Loans taken out during the start of your college career may feature repayment terms of approximately ten years, although that may vary depending upon the type of academic debt you’re paying back. You must start paying on these loans right away, even if you have not found an occupation in your desired field.Masters, doctorates, medical school and law school are some of the most least affordable types of schooling. In these fields of study, you could easily accumulate thousands of dollars in loans and interest charges by the time you get your degree and begin employment in your field of choice. In regards to doctors, you will likely be required to begin the payment process on your student loan debt before you finish your residency. Similarly, students graduating with a law degree are also expected to begin paying back their student debt upon completion of law school, even if they’ve not yet taken the state bar exam. So, you will most likely be obligated to start repayment on this enormous student debt way before you start realistically earning enough money to comfortably pay it back.The only way to help make student debt easier to manage is through consolidation of student loans. Consolidation of student loans makes your student loan debt much more manageable. The bank that consolidates your student loans starts by purchasing all of your college debt. Essentially, the lender who has issued the consolidation loan is forgiving all of the college debt for you. This debt is now seen as one, lump sum loan which you are required to repay in reasonable increments.Not only does loan consolidation make your monthly payments more manageable, it may also save you a lot of money. More times than not, consolidation loans carry reduced interest than at least some of the original college loans. In addition, you lower your risk of getting multiple finance charges and late fees that can add up faster than you think.