If you have a number of outstanding student loans, it may be easier to manage the debt if you combine them into one loan with one monthly payment. This is known as a student loan consolidation. After reviewing student loan consolidation rates, you can consolidate federal student loans that have variable interest rates and convert them into a fixed rate loan for a longer period of time. This can help you lower your monthly student loan debt obligation while ensuring that the payment will not increase because of a change in the interest rate.

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