More than two thirds of graduates have student loans to pay off after graduation. And if you're like most new grads, you've just been hit by a surprise - you're going to be making significantly less money than you thought you were going to make, and were probably told you were going to make.

With the cash flow crunch upon you, consolidating your student loans looks smarter all the time.

Here are the benefits of consolidating the loans you took out for your college education:

- You'll probably get a lower interest rate than what you're paying now

- You will have the option of how long to repay (some loans are 30 years, some 10)

- If you're married, you and your spouse can consolidate all your college loans together

- Monthly payments will be simpler (just one bill to pay)

- If you've defaulted on a loan, consolidating may be the best way to come to terms with your old lender.

Unfortunately, not all educational loans qualify for student loan consolidation. If you have private educational 100 guaranteed installment loans, you won't be able to consolidate them. But SLS, Federal Nursing direct lenders for installment loans with bad credit, unsubsidized and subsidized Direct and FFEL Stafford Loans, Federal Perkins Loans, PLUS Loans and Health Education Assistance Loans all qualify for  consolidation.

You'll also have to wait until six months after you graduate or stop attending school to consolidate your Direct and FFEL student loans.

Consolidating your student loans requires action on your part, despite all the mail you may be getting to the contrary. Contact each of your educational cash loans bad credit monthly payments lenders and ask for a consolidation application.

Also go to http://loanconsolidation.ed.gov and click through to borrower services. There are excellent calculators there that will show you how much you'll save, how much you'll owe every month and how long it will take to pay off your student loan debt.

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