Getting a personal loan to finance student debts allows you to combine all federal student loans into one loan with one single monthly repayment. These payments are considerably lower than those required for the normal ten-year payment option. Through the FFEL (Federal Family Education Loan) Program all banks, credit unions, and other types of lenders can offer this loan. The federal government also provides this loan through the Direct Loan Program (William D. Ford Federal Direct Loan).

Federal education style loans can be granted eligibility to be included into such a debt consolidation loan. This applies to unsubsidized and subsidized FFEL Stafford and Direct Loans, Perkins Loans (federal), Nursing Loans (federal), SLS, and Health Education Assistance Loans. However, any privately funded educational loan is not considered eligible for this.

You should get a hold of the Direct Loan Origination Center's Consolidation Department to get more information on what type of student loans are eligible for this debt consolidation loan. This is something you would be well advised to look into, especially if you have a direct student loan. You should also contact a certified FFEL creditor for more information on FFEL student debt consolidation.

Once you graduate, finish school, or you have completed half-time schooling, you should still be eligible. It is also possible to get this loan even if you are still attending schooling. Try to find a lender that will consolidate your FFEL loans into one that takes into consideration your difficult ability to make repayments. If you are unable to find one then as long as all your FFEL loans are with the same lender you can ask for consolidation with them. If you have a direct Stafford unsubsidized or subsidized style loan or a minimum of one FFEL Stafford unsubsidized or subsidized loan then you could be eligible for help the William D. Ford loan.

When managing money and choosing an unsecured debt consolidation loan you will get help from debt relief professionals. Assistance may also come from settlement advisors and other services providers who can give you all the information you need. The best type of service you must get is one that helps you, and only you. Negotiations will be made by financial and credit card specialists. However, this loan is not designed for every person. The Internet is a great resource for finding unsecured debt consolidation services with free debt reducing quotations. Your yellow page directory is full of such companies that are just a phone call away.