Most students today have to take out at least one student loan in order to pay for the cost of their post-secondary education. Attending college or university is not cheap and even with most families having two working parents, it is still rare for families to be able to come up with all the money needed on their own. The pros of a fixed rate private student loan consolidation certainly over-weigh the bad, if you have outstanding debt and are not able to pay it off on your own. The best idea is to go through with fixed rate loan consolidation then as soon as possible, to prevent further damage to your credit. This is a repayment tool which combines the various student loans you have and puts them into a single loan so you have substantially lower monthly payments to make and can stop stressing all the time.If you think fixed rate student loan consolidation is the answer for you, first you need to find the appropriate lending institution. Find out about the different lenders in your area then take the time to research and learn more about them. You can only figure out which is best for your fixed rate private loan consolidation by learning more about them. Find out what sort of offers they make regarding private loan consolidation and that includes what interest rate they offer, how much they are willing to lend you and what the repayment plan is like.You should also take time to get reviews on the different lenders before making any final decisions. Chances are you have some friends or family members who went through school and used a loan to pay for their schooling as you did. In that case, they can offer you a personalized and firsthand review on the lender they went through and let you know whether they recommend them or not. You may also want to use a fixed rate private student loan calculator, which estimates how much you will have to pay each month to cover the loan. This helps you work your budget around it so you can plan and always have your payment ready. It is important to make sure you make your payments on time every single month and you can be done with your student loan debt and start building your credit back, day by day.