If you are still in college, chances are you are probably looking ahead to the future and seeing some pretty hefty debt. If you’ve already graduated, you are likely already paying back your student loans. A common question that comes up is this - “Should I consolidate student loans?”

As far as I’ve been educated on the matter, the answer is yes. Student loan consolidation locks in the current interest rate you are paying, which means that if the rate goes up in the future, you are not affected. Student loan consolidation can also be favorable to your credit report, that is, if the bank you took your student loan out through reports to the credit unions.

I personally plan on student loan consolidation once I graduate and start paying back loans. For those who have gone through this process already, what about you? Leave a comment and let me know what you think.