More and more people are actually taking out a federal student loan just to help them pay for the rising costs of attaining a college education. While the economy can be touch and go at the same time, many students find themselves in a rather annoying predicament when it comes time for them to graduate.

Sure, walking down the graduation isle wearing the gown and getting the degree handed to you by a school official can be exciting. But then a few months pass, you are hard at work, and suddenly, you start getting more and more letters in the mail from all of the different companies that manage your federal student loans and your other private student loans; this is when most people realize that they are going to be mailing out several checks per month, all to different companies, and all due on different dates. The headache of repayment begins.

But there are ways around this mish mash of repayment. The best option for any graduating student who is about to enter the repayment period on their loans is to consolidate student loans through a major company that can convert all of their loans to one bill, once per month, due on the same date every single month. Without ado, here are the top four reasons why you should consolidate student loans today.

1. Why pay ten monthly bills when you can pay one? By consolidating student loans, you are essentially converting all of your student loans into one loan that is bought out by the company which is consolidating student loans for you. One bill, once per month, that’s it.

2. Lower interest. This is the next biggest reason why you should consolidate student loans today. Many have variable interest rates that can rise, or can just be way too high to begin with. Most companies will offer a competitive interest rate that will save you thousands in the long run, when you consolidate student loans through them.

3. Interest slicing deals. Typically, when you consolidate student loans through a company, they offer an interest reduction program. Meaning that if you pay x-amount of payments on time the company will automatically lower your rate as a bonus.

4. Deferment and forbearance is easier. With one loan you make one phone call for deferment or forbearance, not ten phone calls, ten letters, ten forms and so on. And, sometimes companies do not offer this. But if you consolidate student loans through a company that does, you will have that option should you become financially distressed.