You could get a tax break on the interest you pay on the borrowed money — up to $2,500 a year — according to the IRS. Are you teaching in an inner-city school? That could score you up to $5,000 off your Federal Stafford Loan. Do your homework. Don't pay more than you have to.
While it's not savvy to pile all your credit card debt onto one card, it may be wise to lump all your student loans into one fat IOU. By doing so, you can lock in an interest rate for the life of the loan. That way, if rates go up, you're covered. The downside: if rates go down, you're stuck with the rate you locked in. Decide with your lender which moves makes the most sense for your repayment plan.