Quick note about consolidating student loans: This can be very tempting. For starters, it allows you to pay one or two bills a month instead of making payments to what could be several different lenders. It also reduces the overall monthly payment, freeing up cash for other uses. No-brainer, right? Not quite. As with other consolidated loans, the lower monthly payment might well come at the cost of lengthening the term of the loan and increasing the amount of money you are going to pay over time.
