Over the last couple years student loan refinancing and consolidation has become a hot topic in the United States.As it sounds, refinancing allows undergraduate and graduate borrowers to refinance student loans at a potentially lower interest rate.While money will be made available to you from either source, it’s up to you to put limits on how much debt you’re willing to incur.Don’t take on so much debt that repayment becomes a burden you cannot carry.Most borrowers will need a cosigner for this loan to meet credit, employment, and debt-to-income requirements.

However, including student loans within this type of debt consolidation is usually not a good idea for three significant reasons. Borrowers have at their disposal a wide array of repayment assistance.

Interest rates on student loans usually vary by loan type, rate type, and credit worthiness.

If you find yourself paying 4% to 10% in interest each year, you are paying too much.

In fact, student loan debts are considered the next debt crisis.

Students now graduate with more than ,000 in student loan debt, having attended a four year program.