Student loan consolidation is just not as popular in Australia as in other countries around the world. Most likely, the reason why this is the case is because of the HECS system by which the government helps university students pay for their education.

None the less, there are still many students who get student loans for those items that the Australian government doesn't pay for. Items like textbooks, student fees for each semester and the like.

If a student loan was taken out to pay for some of these items then student loan consolidation can sometimes help.

Whether student loan consolidation will help is dependant on how much the student loan borrowed is charging in interest each year. If the new debt consolidation loan is less than the current student loan(s) then the student loan consolidation may indeed save you money.

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