What is Consolidation?

Consolidation as a term means making one out of all. The term student loan consolidation would mean consolidating all or a part of any of the outstanding loan for education that may be long pending making it into one single loan account. This irrespective of the fact that you may have borrowed a loan from one or many other lenders, be it any type of loans. This consolidation can help you in lowering the payments you have to make monthly and also lengthening the loan repayment term locking a fixed interest rate that is much lower.