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5 Feb 2005

A Student Loan Consolidation Alternative

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by Jesse Mecham

If you really want to understand all of your alternatives to student loan conslidation, you just might want to read a bit further. Chances are, you’ve been looking for an alternative to go ahead and consolidate the student loan you’ve been staring in the face for the past – well – long time.

Be careful

Remember the root of the word consolidation: con. I’m not going to pretend and say that I can foresee every situation. But I just might have an idea of what you’re thinking when you go looking around for an alternative to paying the student loan you took out so long ago.

Why did you take out the loan in the first place? Were you really out of money? Or did you just need some “extra” cash? The lending institutions wanted you to take out that student loan, and now they want you to consolidate that student loan. They want you to think there is no alternative.

Well, there is.

Simply pay off the loan. Bite the bullet and pay off the loan. On top of student loans you probably have credit card debt, car debt, and a mortgage to boot. You are up to your ears in debt. So your logical alternative to paying the debt, is to conslidate the loan into one easy, albeit large, loan.

You are simply treating the symptom. Your problem is not your loan. Your problem is your spending. And until you get your spending under control, you’ll continue looking for that student loan consolidation opportunity.

Or have I misunderstood? Were you searching for an alternative to consolidating your student loan? If so, then I apologize for assuming the worst of you. I praise your courage to avoid the consolidation opportunities out there. Go ahead and take a look at some of them. They want your money. They want to get you on their “special” program. They make me laugh.

The alternative you’re looking for? You don’t need a consolidation program. You don’t need any more debt. You don’t need to make more money. You need a budget.

Your Next Step

Remember, budgeting is not restrictive. You won’t be spending less, you’ll be spending right. You can do this! Today. Right now. What do you have to lose? Except all that debt and stress. (Ok, so kind of a lot.)


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