Here is a list of “dos and don’ts” regarding loan consolidation for students

Do:

1. Consolidate while in school or near the end of the six month grace period.

2. Look for the best deal for consolidation. The Office of Financial Aid recommends a company called Direct Loans, but the student is free to check with state agencies and other lenders, he said.

Don’t:

1. Don’t consolidate at the beginning of the six month grace period.

2. Don’t consolidate their loan with their spouse. “If your spouse were to be injured to the point of being totally disabled or were to pass away, you may be responsible for his or her loans,” Olson said.

3. Don’t consolidate if they qualify for military benefits. Sometimes the military will take over loans for the borrower but it will not if they have been consolidated, he said.