Student loans are great.  They provide a means to pay for an expensive college education.  However, the down side to a student loan is that you eventually have to pay them back.  And it is entirely possible that you have more than one student loan and you are drowning in debt. 

This is where a student loan consolidation service can be a life saver.  But there are a lot of different student loan consolidation services out there, how do you pick the right one for you? 

Just like there is more than one type of student loan, there is more than one type of debt consolidation service.  There are several things to keep in mind:

What Type Of Student Loan Do You Have
Is it a federal backed student loan, such as a Sallie Mae or Fannie Mae Student Loan?  Is you loan a Perkins Loan or a Stafford Loan?  If so, you may be able to consolidate your student loans through the Sallie Mae program.  Also, some private loans are also eligible for Sallie Mae consolidation.

If all of your loans are private loans that are not eligible for Sallie Mae consolidation, there are several institutions that will allow you to combine all of your loans into one loan.

What Type Of Payment Schedule

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