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Finding the right bank to refinance or consolidate your student loans is confusing.Fortunately, we’ve highlighted the six best banks and lenders to help you refinance and consolidate both private and federal student loans, based on your financial situation.If you fall behind, the mortgage holder can foreclose on your house to satisfy the loan.Unsecured loans are based only on your promise to pay and are not secured by any property that can be foreclosed or repossessed to pay the loan. Unsecured loans usually have a higher interest rate because they carry more risk for the lender.Your Annual Percentage Rate (APR) will be based on the specific characteristics of your credit application including, but not limited to, evaluation of credit history and amount of credit requested.Your actual APR will be determined when a credit decision is made and may be higher than the rates shown.Debt consolidation is not the same as debt settlement.In debt consolidation, you pay your debt in full with no negative consequences to your credit.

The interest rate is fixed for the life of the loan.

Whether you are teetering on the edge of bankruptcy or just trying to better manage your finances, you can’t help but notice all the advertisements touting debt consolidation. Read on to learn about the different debt consolidation options and the pros and cons of each.

(To learn about other ways to handle debt, see our Debt Management topic area.) With debt consolidation, you get a single loan to pay off all of your smaller loans, thereby leaving you with just one monthly payment rather than several.

Consolidation is used in technical analysis to describe the movement of a stock's price within a well-defined pattern of trading levels.

Consolidation is generally regarded as a period of indecision, which ends when the price of the asset moves above or below the prices in the trading pattern.

Disclosure: Student Loan Hero is a free website to help student loan borrowers.

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