When someone says that it is possible to get rid of all your present debts and start life afresh with student loan debt consolidation, then you have no reason whatsoever to disbelieve that person. It's true. When you opt for student loan debt consolidation of your college loans and dues, all your loans are centralized and added together into one combined amount which is then paid to one company to which you have given the job of consolidating your college loans.
The benefit of the student loan debt consolidation process is that you no longer have to monitor all the dates and amounts that you have been paying up until now. Moreover, the single installment that you pay now will be less than what you used to pay before consolidating. The reason is that a student loan debt consolidation company will charge less interest on the loan amount and the duration of the loan taken is extended up to thirty years.
This means that student loan debt consolidation reduces the installment amount due on your monthly payments. You can then easily pay the amount due within your present income and sometimes even be able to save some money in the process. Your earlier creditor companies will also help in the process of debt reduction. When the company you have engaged approaches your creditors with the option of payment, they will be more than willing to reduce their dues by cutting fines, levies and late payment charges in the anticipation of complete payment. By doing this, your due amount becomes less as well and this aids in reducing your monthly installments for the repayment amount. Now this means that you will be paying more of your principal amount and less of the other charges. This is very good news from the point of view of the student for the purpose of student loan debt consolidation.