Consolidating all your student loans is primarily a convenient form of repaying all your student loans, leaving you with just one or two loans. With multiple student loans, you have many creditors, you have many monthly amounts due, you have different dates due, you probably are dealing with a number of different interest rates. After consolidation you only have one or two of each which is much easier to manage if you want to stick to a budget.You will still have the options of low interest rates and lengthy repayment times. Your monthly payment will probably be less than the sum of all your multiple loans. Before you consolidate your student loans, you need to consider three factors: Your Credit Record. The Interest Rates. Using Online Calculators.Interest RatesPrior to applying for consolidation of your student loans, you need to evaluate your monthly payments along with the broad interest that you are paying. You need to figure the total cost of transactions across all loans. By doing so, the borrower-student can get a grip on the actual process that will determine how much payouts will be once the loans are merged.Credit ReportsKeeping your credit scores within an acceptable range is very crucial as these scores will be used to offer guidance to future lenders regarding your trustworthiness and credibility. Credit histories are a more or less complete record of the borrowing and repayment behavior of an individual (or a company).Most financial institutions will favor folks with good credit credentials by offering lower interest rates, lower payments, and accommodating repayment terms. Manage your finances in a proper manner and keep yourself as debt free as possible is the best way to attain this preferred status.Online CalculatorsThese handy devices are ubiquitous on the web. Most lending institutions and finance companies provide these so-called periodic payment calculators on their websites. They can help students understand all the possibilities for student loan consolidation. Once they understand their options, they can complete an application without being overwhelmed.Responsible student borrowers should do all that is necessary to assure they get the best rates and terms the consolidation lender may offer. In fact, student borrowers should shop around for competitive lenders. The main goal is to clear debt and maintain a good credit standing.Best Online Student Loan Consolidation CompaniesDo not be cavalier or impulsive when choosing a debt consolidation company. Seriously consider and use the three suggestions above: Interest Rates. Credit History. Online Calculators. Then start asking questions: Will this lender offer me accommodating terms, once I have chosen to have them consolidate my student loans for me? What other benefits might I expect from this lender?Figure in those benefits when deciding among lenders. Before you sign anything, carefully read and understand exactly all the terms and conditions that ride along with the loan consolidation. Be careful. Many lenders will start thrusting pens and papers at you the minute they see that you qualify. Carefully weigh all the pros and cons of each lender before you sign anything. Consider and reconsider all offers. Diligently compare all rates, terms, and conditions.If you are unsure of anything, do not sign. After all, you are consolidating your loans to keep abreast of any financial difficulties. You do not want to be setting up a debt trap that you will have to live with for years.