Are you a student who has missed a couple loan payments in the last few months? Or even worse, have you defaulted on your loans? Your credit has most likely taken a turn for the worse.

Having bad credit can definitely make it difficult for you to consolidate your student loans.  Although combining your loans into one might be an ideal solution for you, most lenders usually consolidate student loans for those with a good credit history. That’s not to say that you can’t do so with bad credit. It’s just going to be a little harder for you.

Since most private lenders help those with good credit to consolidate their loans, you might need to enlist the aid of a person with a strong credit history. If that person signs on to be the co-borrower on your consolidated loan, you gain more credibility in the eyes of the lender. Lenders will be more willing to give you a lower interest rate and a longer term to repay your loan.

Consolidating your student loans, especially as a student with bad credit, could put you on the right track to rebuilding your credit score. If you can negotiate terms that are better than the ones you have now - then you might have an easier time making these lower payments on time.