Due to the huge amount of tuition fees of the studies of the children, most of the parents try to avail the option of student loan. Throughout the year till he is a graduate, the loan provides him sufficient amount of money to carry his studies. Indeed, almost all the posts of getting a good job minimal require a graduate degree in hand but to get a job is a very hard process. When a student graduates, the very first day he thinks about that how to repay the loan which his parents had taken from the bank or other financial institutes for his studies. Moreover, the lending firm sends a letter for the repayment of loan.For such matters, the government has made an available a program of debt consolidation which helps those students who cannot pay their student loan after the studies. Initially, see and compute the amount of loans which you have taken from various firms and the interest rate of the amount of the loan. Distinguish between the amount of the loan you have really taken and the amount of the loan you have to pay. Secondly, seek the type of loan you have taken, whether they are government financed or from any private firm. Now, go and search for the best option through which you can repay these loans and certainly the best option is the loan consolidation because of many beneficial reasons.First, it reduces the interest amount which is included in the loan amount and offers a very low amount of interest in future. Second, it will extend the period to return the loan and lessen the amount of installments almost to half. Third, and the last option is that it will not let your credit rank go down because it tells the lender that you really wish to pay the amount of loan back but due to the unavailability of job and low resources you cannot afford to pay them but when eventually, you will have a good job and fine amount of resources, you will pay the loan back. Debt consolidation is a treaty of faith to return the loan.