Graduate Student Debt

As a college graduate you most likely have several types of debt you are now faced with repaying. There are college loans, personal or auto loans and also credit cards to name a few.

Whether you are going on to graduate school or starting out in the workplace, paying all of these back can be daunting and make the launch into the next stage in your life stressful.

Consolidating your debts can significantly lower your payments and put more cash back into your pockets. The drawback is that this happens by stretching out the payment term which can ultimately cost you more money in the end.

The smart graduate will consolidate all his or her debts right after graduation and use the extra cash it frees up to set up their lives and start their career. Then, once they are established and their wages increase, work to pay off the consolidation loans early thus avoiding the downside to consolidation.

Three types of debt consolidation:

• Federal Student Loan Consolidation
• Private Student Loan Consolidation
• Non-Student Loan Debt Consolidation (credit cards)