Since your student loans are guaranteed by the Federal government, you will not need to worry about lenders conducting a credit check. You will not be denied your right to consolidate student loans based on your credit history. In effect, once you consolidate your student loans, you may actually improve your credit score. Make monthly payments on this loan and on other loans you may have and you will keep your credit rating strong. Lenders are interested only in the amount of money you owe, the types of loans you want to consolidate, and the payment terms you can afford. Consolidate student loans in order to lower your monthly payment.

If for some reason after you consolidate student loans, you cannot make payments, you should contact your lender in order to work out another payment plan. You should not default under any loan because this will affect your credit and any future loans you try to take out. By making monthly payments on your student loans, you will be able to repair any damage to your credit that you may have experienced in college. This is a good way to prepare for the future because you may want to buy a home someday and will need healthy credit to qualify for a mortgage.