The cost of education these days is on an all time high. It seems that nobody can earn a degree without first spending thousands. Scholarships and grants are a great help. Working while studying is also very helpful but somehow these are not enough. This is the reason why a lot of students secure student loans from private or federal lenders.Paying back these debts is not an easy task after graduation and most turn into student loan consolidation to lessen the burden. This act combines one’s debts into one with the help of a consolidating company. Old debts are paid by the consolidating company so the borrower gets to pay only one loan every month with lowered repayment amount and fixed lower interest rate.However, what factors must you consider before getting your college loans consolidated?1. combining your debts may disqualify you from some borrower’s benefits like the 6 months grace period before starting repayment and forgiveness of debt.2. If you are combining federal debts, there are no fees required.3. You cannot combine your debts while you are still studying.4. It is possible to have your debts combined within the 6 months grace period but this means that you will have to start repayment immediately.5. For parents who have applied for various educational financial assistance can combine their debts at anytime.6. When you opt to have all your debts combined, you get a lower monthly repayment and interest rate however the extended repayment period will mean that you will be paying more than the real value of your debts.Student loan consolidation has its own benefits but is it a good solution for repaying your debts easier?If ease of repayment is your main concern as of the moment, combining your debts is a recommended option. This will allow you to have enough funds for other expenses and even to save or invest to increase your wealth. However, if you think that you can repay your college debts even without consolidating, then there is no real reason for you to refinance.