The first thing comes to mind when you pile up lot of debts is going for debt consolidation. Due to obvious reasons Private Student Loan Consolidation market really has never been very hot. There were always a very few players in the market charging obscene interest to poor students. However now with the current credit crunch, it seems like it has started affecting Student Debt Industry as well.  Dominic Yoia, the senior director of financial aid at Quinnipiac University quoted  “I think everybody in financial aid is keeping a cautious eye on the industry, But I don’t think there’s any need for alarm at the moment”

The good thing with student loans is if everything fails up at least federal safeguards are there to protect students. Still it sucks to see even student loan market facing credit crunch. Wish I had billion dollars to consolidate all student loans:)

If you have student loan and facing trouble in repayment, read an article at  Buildyourownbusiness for some nice tips.