June 2, 2008 2:22pm
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As you understand loans consolidated through government student loan consolidation must still be paid off. But here with student loan consolidation students have longer period of repayment. That means that monthly payments will be lower. Maximum period that is given to students to pay off consolidated loans vary from 10 to 30 years. The period of repayment depends on how much is owed. In its turn the amount of the monthly payments depends on the repayment period, total loan amount, and interest rate.
But do not forget about additional accumulated interest as repayment period gets longer and monthly payments get lower.