Have student loans been a major headache for you lately? It's no wonder since the average student has more than $8,000 dollars in student loan debt. It has been shown that more than 50 percent of college graduates still hold student debt and the average amount of that debt totals approximately $10,000. It has been revealed that some college graduates actually owe even more than that.

It's important to remember that a college education can be expensive. Students must pay for books, supplies and other preparatory materials in addition to their tuition. College students must also be able to pay for their lifestyle, such as, food, clothing and rent. Also important to keep in mind is the fact that not all students are able to work a part time job while they attend college. This increases the strain on many students making it difficult to concentrate on their studies. So instead, many college students end up taking on more student loans to pay for the costs of school rather than increase their work loads. This ends up causing them to have a significant student debt to pay after their done with school.

Luckily, college graduates have options that are available to them. As long as they continue their education at least on a half time basis, they may defer their payments until after they are done with school. It is important to keep in mind though that at some point you will have to pay back those student loans.

If you are currently paying on your student debts and are having difficulty making your monthly payments, then you should consider consolidating your loans. By taking out a student loan and consolidation, all of your outstanding student debts will be paid off by one larger loan. Loan consolidation can greatly simplify the repayment of your school debts by allowing you to pay just one bill each month instead of many.

The advantage to the graduate is that their monthly loan payment is less than the payment they were previously paying. This can ease much of the pressure that a large monthly payment might have been causing.

An important point to note is that since the person is paying less each month on their student loans, they will end up paying slightly more over the life of their consolidation loan. This occurs because their student loan balances have a longer time to accrue interest then they would have if the graduate had paid the original loans off. However, it is better to pay it off slower and make your payments if you were struggling to make your monthly payments.

Pete Cameron is an expert in the Loan Consolidation Industry and runs the very successful and popular blog about Student Loan Consolidation Rates. He has helped thousands of people learn loan consolidation techniques. Visit his site right now for more information on Student Loan And Consolidation.