Lenders have fixed costs to process payments and repayment can spread out over a larger period.
However, such consolidation loans have costs: fees, interest, and "points" where one point equals to one percent of the amount borrowed.
Take charge of your finances with the CIBC Debt Consolidation Calculator.
This debt calculator can help you create a debt repayment plan.
Many students, however, struggle with commercial debt well after their courses have finished.