Student loan consolidation loans are required when you finish school and you are ready to begin paying back your student loans. In most cases they consist of two different loans, one loan for your subsidized and another for your unsubsidized loans.
Once you complete school, you will be required to start paying back your student loans. You must contact a lender of your choice to get student loan consolidation loans. Most people decide to go with the bank that they currently bank with. This makes it easier for them to make the payments directly through their bank accounts to their lender. Many times people can make the payment online by a transfer out of their bank account. Many of these lenders will offer a 1% decrease in the interest rate if the payer has an automatic withdrawal done each month. 1% doesn’t sound like very much, but it is a lot of money, especially for the larger loans.