Nowadays, sending your son or daughter into college could be the most financially-challenging task for you; but that is okay, since student loan bill consolidation will help you fulfill your dreams for them.Student loans can get you financially-drained after all the years of sending your children to college. You have to pay not only for the tuition fee but books, research expenses, travel allowances, dorm fees, and a lot others. That is why by the time they graduate, your debts are already neck deep, they already make you unable to breathe and think clearly where on earth you could get amounts to pay them off.But all those loans you have accumulated over the years can be easily paid off in just a matter of few years, typically in less than five years, by getting that student loan bill consolidation.How will it work for you?Student loan bill consolidation is the best method that can effectively ease you out of your burdens from debts. It is very easy to understand how it can work for you after all those years of securing loans for the college of your children. Your loan installments are consolidated altogether so the debt management company could compute for you the total installment of what you have to pay them every month.You simply take the loan from the company to pay off various student loans you got from different creditors, and then you are cleared of all the debts from others; while you in turn would receive only one bill statement from thereon and pay the company with lowered interest rates.But before you receive this monthly installment bills, you would have to sit down with them and negotiate the best repayment plan for you. Whatever plan you would be having, it would be something that is at a much lower rate than the collective rate you get from your previous different lenders.Rates the company could provide you vary with the duration of the installment plans. The best thing about this is that you could take the most flexible term which is according to how much you can comfortably afford to pay every month.The classification of monthly repayment terms will be as follows:Standard repayment plan – you can pay your dues in regular monthly installment.Graduated repayment plan – you can pay with smaller installments earlier and the rate increases later together with the stability.Variable repayment plan – you can pay according to more or less your overall financial situationExtended repayment plan – you can pay on a longer duration with lower installments.Get counseling help from the experts and advisors of the companyIt is important to get student loan counseling before you decide to sign up with the loan program. Student counselors are the better persons to go to when seeking for advises regarding what best plan would be best for you to have. They are considerably more acquainted and experienced with the needs of the students, so they are more knowledgeable to guide you to choosing the best plan. They can also be your ally when you want to secure discounts and other benefits which you may be unaware of.The consolidation loan program should be able to help you pay off debts that otherwise could be difficult maintaining with the necessary paper works each month, thereby giving you more chances to mismanage them. It should be able to provide you more flexible payments according to your capacity. It should let you clear off debts in no time at all. And most important of all, it should be able to help you improve your credit ratings so you can have more transactions and deals in the future without too much of the hassles.You have to remember though that after taking and signing that student loan bill consolidation program, you should be more careful not to become delinquent with payments. Even a single failure to pay on time could get you in trouble, jeopardizing your chances to improve your credit scores and affecting installment rate status. Bill consolidation loans are generally easier to track because they only give you single bill statements each month for you to handle, so it would be ridiculous if you let a single default to ruin your chances to save money and clear off your debts.