Huge numbers of college students each year make the mistake of signing up for as many credit cards as possible. There are always credit card reps outside sports games and other large events offering free tee shirts, water bottles, hats, gift certificates and more in exchange for a student signature on a credit application.

And once the credit cards arrive, they'll be using them to finance a new lifestyle that they aren't even close to being able to afford. And before they know it, they will owe thousands of dollars of debts and their minimum payments will just cover the interest fees.

Many of these students will be looking for a college consolidation debt loan before they even graduate. At least this way, their debt will be manageable before they really jump into the outside world.

A credit counselor can point a student in the right direction and help him or find the best debt consolidation company. A good company can offer solutions to manage the student's debt and get the payment back on track where it's affordable and matches the capabilities of the student. Many students will decide not to go to a debt consolidation company and instead, go the "do it yourself" route.

There are many good guides available that help with this but the student has to be really strong willed and consistent without that credit counselor to guide them. If the student chooses to go the debt consolidation agency route, they need to check out the company completely. Find out how long the company has been in business and if they have references. It's also a good idea to check with the Better Business Bureau to see if there are any complaints against the company. In many cases a college consolidation debt loan makes the difference between a student ready to take on the world, and one that's already worn out by the system before they even get started in their new life.