Student loan debt can be an overwhelming problem that over 37 million people throughout the United States must deal with on a day-to-day basis. Unfortunately, student loan debt can add to your overall financial stress rather quickly unless you take pro-active measures. One way people can control their finances and take advantage of the countless programs available to assist with their student loan debt is through consolidation or payment restructuring plans. According to the U.S. Department of Education, consolidation or payment restructuring plans allow a borrower to combine one or more of their eligible Federal Education Loans into one new loan. Because each borrower’s circumstances are unique, the potential benefits of a consolidation or payment restructuring plan will vary with each individual.