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Consolidating student loans might not always make sense

Does it make sense to consolidate student loans? @Davidlaz has the answer
You might want to think twice before consolidating student loans

A reader is thinking about consolidating his two student loans. He wants to know if this is a prudent move and what's the best way to get started.

As for this being a prudent move, that depends on various factors.

ASK LAZ: Smart answers to consumer questions

It's worth considering that about 40 million Americans now collectively hold $1.2 trillion in student debt. That's more than we owe on credit cards.

It's also important to remember that student debt can't be erased in most cases by a bankruptcy filing. So that option won't make the problem go away.

Is it smart to consolidate loans? And how to get started? For those answers, check out today's Ask Laz video.

If you have a consumer question, email me at asklaz@latimes.com or contact me via Twitter @Davidlaz.

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