Consolidating College Loans can have benefits and drawbacks. Here are some reasons for doing it:

1. Put all your loans into one company and get a smaller monthly fee
2. Pay one lender
3. Better credit
4. Fixed Interest Rate

Here are some drawbacks:

1. Interest rates sometimes go down
2. You can’t unconsolidate
3. Confusing proccess with many terms
4. Life of loan can extend costing you more
5. Requirements such as you must owe at least ten thousand dollars

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