Student Loan Consolidation: Signs that you should consolidate

Here are some warning signs that mean you should consolidate your student loans:

-You are putting regular living expenses (i.e. food) on credit cards in order to survive and still repay your student loans.

-You are busy putting one credit card balance on to another, in order to take advantage of lower interest rates or avoid payment.

-You are only able to make the minimum monthly payment for the student loans on your credit card.

-All of your credit cards are maxed out and you are looking to open additional accounts.

-You need to take cash advances in order to keep up with your monthly payments on your student loans.

-You are paying out over half of your monthly income towards repaying your student loan.

If any of these behaviors describe you, they are a good sign that your student loans are no longer a good source of financial aid, but are becoming a severe burden to you. If you have any of these problems, you should really consider consolidating your student loans to extend your repayment period and lower your monthly payments to an amount that you can handle.