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Students with little or no credit history, or those with a poor credit report, may find that they will need to apply with a credit-worthy cosigner in order to be approved for a consolidation loan.Typically, cosigners can be relieved of their responsibilities after the primary borrower has made the requisite number of timely payments, thus allowing the primary borrower to build a solid credit history.Consolidating your student loans begins with contacting a private lender.Banks and private lending institutions that offer student loan packages often also offer loan consolidation programs.

The approval period varies according to lending institution, and may take up to two months.

Banks and private lenders that offer college loans often offer student friendly repayment terms.

These may include lower interest rates, payment deferrals, and a waiver of application fees.

Private loan consolidation is offered by a variety of banks and lending institutions.

Students interested in consolidating their outstanding college loans should begin with their current primary lenders.

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