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The last thing you need as a committed student is the pressure from financial institutions about your debt repayment and a very good way to manage your debt is by applying for a debt consolidation loan.

Debt consolidation loans are available to students and enable you to bring all of your debt, be it a student or study loan, credit card debt or overdaft, together into one manageable loan with a single repayment.

Why consider student loan debt consolidation?

Debt consolidation gives you the opportunity to lower the average interest rate on all of your debt by combining your high interest debt like credit cards and personal loans into a single credit facility with a lower interest rate over a longer period and effectively reducing your monthly debt repayments by a substantial amount.

This gives you the freedom to study without the undue pressure of high cost finance which, when you have completed your degree or diploma, will enable you to pay off the consolidation loan from your salary.

When applying for a student debt consolidation loan, your past performance with debt repayments it taken into account and the actual amount you are repaying as a whole figure against all of the debt you may be servicing and structuring a consolidation loan to make the repayments affordable, freeing your mind from financial problems while you are in a critical stage of your advancement.

Whether you are studying an online course at a University or college or are a full time student, debt consolidation loans are an effective way of reducing your monthly repayments and your interest obligations. It is very important as a student to ensure that your credit history is clear as part of the employment screening process is a credit check and anyone with a negative credit history will be at a distinct disadvantage when it comes to success in job applications.

Manage your debt, ensure that the repayments are affordable, don’t miss a repayment and always talk to your bank before a potential  problem becomes a real problem. Reduce your debt repayments and do what you are there to do, study.