The year 2009 saw lot of college pass outs declaring themselves bankrupt and going through immense defaults not knowing what to do. This is because students were not aware of the steps taken by the government and the student loan consolidation rates 2009 were not known to many people. As soon as students and many other people became familiar with the loan consolidation option, majority of them tried to get their loans consolidated whether it were student loans or home loans.

No one wants to get his credit history blemished and so he looks for options that can save him from defaults and at the same time save his credit score too. No doubt, the world was still facing the setbacks of the economic recession that hit in the later half of the year 2008; many people were unaware of their financial future. Majority had lost their jobs while many were facing salary cuts and threats of losing their jobs soon. In this condition when unemployment had spread like an epidemic, it was very difficult for the average person to make any financial planning for future.

The student loan consolidation rates 2009 were declared keeping in mind the financial, emotional and mental condition of common people. This helped them recover and come out of the financial crisis and at the same time they did not have to lose their homes and other assets too. Those who got perturbed and did not act patiently declared themselves bankrupt and even lost their assets, which could have been a great support in these financially difficult times. Those who stayed calm and studied the steps taken by the government carefully got benefited in the long run.

However, it is advisable that whether it was the year 2009 or it is the year 2011, you should find and compare the consolidation rates and then finalize the lender or the company that offers the best one. Student loan consolidation rates 2009 were undoubtedly lower than in last many years, but even today you can get a lender to consolidate your loans at the lowest rate of interest available and possible.