The Department of Education estimates that about 100,000 former students consolidated their student loans each year. Explore deferment or forbearance. If you can't afford any payments, ask about a deferment or forbearance, ways to postpone your payments. Deferments are generally available for people who are unemployed or working less than full-time, suffering economic hardship returning to school, returning to work after the birth or adoption of a child or on parental leave. A forbearance will allow you to temporarily stop or reduce your loan payments, though the interest on your loans will continue to accrue.
Forbearances are easier to obtain than deferments.
Don't be discouraged you may feel overwhelmed by your debt burden, but if you know your options and take action, you can create a workable strategy to get out from under your loans.