Congratulations on your recent college graduation! Hopefully you are starting a new phase in your life with a new career, or maybe a new job. There will be many responsibilities coming your way, and most of you will need to do something about your student loan repayment. If you're not aware of it, you only have a six month grace period, after you graduate, to start repaying your loans. Otherwise your loans will go into default - and that is not a good thing.

Let's look at the most popular federal student loan repayment option, which is consolidating student loans. Here's a basic explanation of what that means. You take all of your student loans, and have them combined into one new loan. This new loan will have a much lower interest rate than your original loans, and your payment will be significantly lower. You will only have one loan to repay instead of all those other loans, and your new loan is still backed by the federal government. On average, graduates can usually cut their loan payments by up to 50%. You can visit our Student Loan Consolidation Center to get started today. Find out if you qualify, find out how much your outstanding loans are, ask questions, etc. Qualifying is easy - you have to be out of school, you have to have more than $10,000 in loans, and you can't have any loans in default. There is no credit check, and you can always pay off the consolidated student loan early with no pre-payment penalty fees.

Most recent graduates are still not financially independent, and besides having outstanding student loans, there is also other student debt you might have to consider. Saving money on your student loan repayment, can free up some extra cash in your budget for other expenses. In some cases, you can even put off repaying your student loans for a number of years. So, check out your options and make the best decision for you. Be sure to ask lots of questions, and make sure you understand everything.

Student loan repayment consolidation is a FREE service offered by many companies. Do not consolidate with a company that is going to charge you a fee. A reputable company, such as Student Financial Advisors, will help you every step of the way, and even do the paperwork for you. It couldn't be any easier.

One of the most important things about student loan repayment is to keep in mind is that you have to act before the end of your grace period. If your federal student loans go into default, you will not qualify for consolidation, and will lose the chance to save all that money!