No matter which college you attend, you can be sure of one thing and that is, they won’t be able to teach you just how you should go about the process of consolidating student loans.

The good news however, is that you can simply by asking some questions. Here are 10 questions every student should ask:

1 – What are the reasons for you wanting to consolidate your loans? Of course, the primary reason is so that you are able to reduce your monthly repayments. Additionally, it carries with it, the convenience of only have one loan to be responsible for.

2 – When should you consolidate loans? If you feel you are no longer able to afford the all the individual repayments, or if you’re struggling to deal with the financial stress from having so many obligations then it be advisable to consolidate.

3 – Do I qualify for a student consolidation loan? Generally speaking, it is during your period of grace after graduation that one would normally apply.

4 – Are there any incentives? Some financial institutions do offer special bonuses or some other form of incentive but it is imperative that you get all related details in writing. Also, don’t be afraid to ask question you feel are relevant to your situation.

5 – Does this lender have experience with student loan consolidation? Choosing one of the reputable student loan consolidation companies is essential to your peace of mind.

6 – Will this lender be servicing my loan? Some “lenders” are really brokers that get you to consolidate your student loans with them only to sell them off to a lender you did not choose. Be aware of this and ask about it before signing any loan agreement.

7 – What kind of loan must I get? – Exercise caution when it comes to this because if your current student loans are federal loans, only federal consolidation loans will be recognized. If you opt for a consolidation loan which is not federal, you’ll loose all federal benefits you may be getting.

8 – What are the loan terms and conditions? Specific terms and conditions may vary from one lender to the next so most importantly, don’t even consider signing anything unless you’re 100% certain of the terms.

9 – Does the company offer any special features? Yes, most lenders nowadays offer certain features in a bid to make repayments easier. These could include online services such as application or complete account management.

10 – What if I can’t make payments? Most importantly, determine this when making your application as one never knows what the future holds in store. However, most companies will have some form of service available to deal with such tragedies such as loan repayment insurance, etc.