Credit-yogi wants you to know that there are even more advantages to be had from a good student loan consolidation company. You may be able to qualify for renewed deferment options. This would renew your ability to take deferments on monthly payments even if you have already used up the deferments under the old loans. Also, you will have a choice of multiple payment options. Some of these such as the Income Based Repayment Plan and the Income Contingent Repayment would adjust your monthly payments if you can show that your financial situation has changed during the life of the loan. You may also switch back and forth with an unusual freedom between payments plans at your discretion.
If the student is still in school, these plans are normally not available. However, they are granted in some special circumstances. There are some things to beware of. If your school loan is defaulted, you must make satisfactory repayment arrangements, which credit-yogi.com can help you do, with the creditor before getting a consolidation loan for student loan debt. Also, keep in mind that if you are relatively close to having the loan repaid anyway, you are probably causing more trouble than it is worth to try to consolidate the remainder of the loan.