It is a blessing for a student if he can make an easy and regular payments of his student loans; this only means his road to pursuing his college degree can be done with a lot less stress and hindrances. However, this is not usually the case for many borrowers. More often than not, monthly installments are not paid late, if not paid at all. Hence, with the number of loans that a borrower has to worry about every month, he has to decide fast and just get a student loan consolidation to take care of his financial woes. Consolidation means merging the old loans, turning them into one cheap monthly payment. Via this road, you find yourself taking care of a much easy-to-pay new debt and at the same time, ridding of the multiple loans that had created for you financial havoc all this time. And with the elimination of the old debts, you are in effect erasing the problem of dealing with the high interest rates that go with them.However, students must be careful about getting student debt consolidation. It should be emphasized that there are two types of college loans, the private and the government ones. If it so happens that you have both these types under your names, it is a must that you consolidate your loans into two groups – private and federal student loan consolidation.All kinds of government loans such as Perkins, Stafford and PLUS Loans should be consolidated under a government student debt consolidation loan. Why do we need to separate the federal from the private when consolidating? This is because the federal loans have lower rates of interest? If in case, they are consolidated together with the private ones, the advantage of having low rates will be disregarded. While your old government debts have different payment schedules and terms, once they are consolidated, there will only be a single repayment schedule leading to a much easier management of your debt. On the other hand, private debt consolidation loan should be employed when we want to merge private debts, and such loan can be availed as either secured or unsecured. Always remember, federal and private loans never mix as far as debt consolidation is concerned.