Education loan is a form of financial aid that must be returned with interest. (Scholarships, however, should not be repaid.) Education loans can be in three main categories: student loans (such as Stafford and Perkins loans), loans from parents and private student loans (also called alternative student loans). The fourth type is education loan; this allows the borrower to take all parts of your loans into one loan for simplified payment. A recent innovation is peer-To-Peer lending. Federal loans for education are available on loan programs, whether direct or loans guaranteed by the federal government for students.If the current variable interest rate loan consolidation federal loan to fix a fixed rate. Fixed rate consolidation loan has its advantages, including the one monthly payment. Many lenders offer incentives for consolidation by reducing the rate of.25 to 1% after a series of time College graduates with an average debt of $ 19,000, but many carry up to $ 40000. For students, the transition to a professional school or graduate school or to visit at this level, your number can exceed $ 150,000.The fact that student debt cannot be avoided forever, but there are several ways to reduce the severity of the monthly bill. Here are some ways to help debt-student loans and advice. If possible, pay part of your debt before you graduate or the grace period interest ends. Prepay subsidized loans are applied to the capital, thereby reducing both the outstanding principal and interest pay on the loan. Refunds unsubsidized loans applied first to accrued interest, but also to reduce the lease term and save money at the end.When money is tight, or if you are having financial difficulties, it is tempting to skip a payment or stop paying altogether, by default, but the punishment severe. Instead, contact your lender as soon as you know that you are in trouble and will help in choosing a payment plan or other request for a stay or patience. Student debt can be overwhelming, but with proposals for consolidation can help you manage your payments and reduce the number of bills to pay each month.