Should I opt for student loan debt consolidation?

Author	Message
Written on: 02.11.2009 [17:10]
Rebecca Rebecca Topic creator Posts: 2	My American pen pal has consolidated her school loan debt to reduce the stress of repayments. Is this an option in the UK too? When is student loan debt consolidation a good idea in the UK?
Written on: 05.11.2009 [15:25]
Georgia Georgia Posts: 4	The Americans have a very different system to ours, and I think you'll be glad that this is the case when you examine it more closely! Firstly, US students pay much more than UK students for their courses. The average American student debt is much higher, and they are charged interest on their loans. It makes sense to consolidate your loans in the US if you can get a better rate / cheaper deal. In the UK, you only pay back what you can afford, and your student loan isn't even included on your credit record. Why would you need to consolidate?
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Written on: 10.11.2009 [14:47]
Erin Erin Posts: 2	No, the student loan system is completely different here in the UK and a student loan consolidation would not be possible.