Student federal loan consolidation is a valuable tool for a multitude of students in the U.S. weighed down by the burden of education loans. Education loans have become almost an inevitable need for students lately. These loans are required to be repaid after the students finish their graduation (and a grace period of six months). Having stepped into a new period of their lives – both economically & professionally – they mostly get flustered while managing the multiple monthly installments / keeping track of due dates. And they certainly require help. The U.S. federal government recognizes this need of the students. Therefore, they strongly support the student federal loan consolidation programs.Student Federal Loan Consolidation – An ElucidationStudent federal loan consolidation, as the name suggests, is nothing but loan consolidation offered to graduate students by a number of banks and credit unions accredited by Federal Family Education Loan Program (FFEL). In addition, federal loan consolidation is also offered directly by the U.S. Department of Education. Loan consolidation encompasses paying off the different education loans taken by students in one go. Thereafter, the total amount paid off is required to be repaid by the student in easy monthly installments. Most of the times, the repayment period is extended to bring down the amount of the monthly installment. Also a lower rate of interest compared to what the student had been paying on his multiple loans is offered.Benefits Of Federal SupportThe whole concept of student debt consolidation gets a tremendous boost because of federal backing. Since the U.S. government pays off the consolidation loan of a student in case he fails to do so (the government then recovers the loan from that student), even private finance companies / banks find the deals lucrative. Therefore, they waive off credit checks and no co-signors are required. Thus, poor credit score is no constraint in obtaining consolidation loan. Rather, loan consolidation gives the student a chance to improve his credit rating. In addition to going easy on qualifying criteria, the finance companies / banks offer attractive schemes on student federal loan consolidation. They offer students low interest rates, flexible repayment terms, and even rewards and incentives for timely repayment of consolidation loans.Do Not Compromise On AlertnessAll said and done, you must never take it easy when it comes to choosing a company to deal with or a particular option offered by them. True, the U.S. government supports student federal loan consolidation. But some companies might try to trick you into opting for the kind of consolidation loans that make you pay more money in form of interest in the long run. Such debt consolidation is not of much use indeed. So firstly, check the finance company’s credentials thoroughly and then read the terms and conditions painstakingly. This will surely help you secure the best student debt consolidation program.