National debt relief national debt relief is one of the largest and best rated debt settlement companies in the country in addition to providing excellent 5 star services to our clients we also focus on educating consumers across america on how to best manage their money. Unfortunately many graduates head out in the world with credit card debt alongside their student loan debt students owe an estimated 131 trillion for loans in 2017 approximately 4000 in student debt is accrued every second the average student debt for a 2016 college graduate was 37172 up 6 from the previous year living with . When that the 6 loan is paid off the 150 used to pay the 6 debt each month would then be added to the 100 being used to pay the 5 thus paying 250 each month for the loan with a 5 rate and . Lets say that you have one credit card balance with 7000 at 15 another with 3000 at 7 and the student loan 10000 at 3 choosing 15 as the rate r will help you calculate payments to most quickly reduce your debt of course you could use a weighted average but we will leave that for a mathematics textbook to explain. Debt consolidation loan a debt consolidation loan is a loan used to pay off all your debt once you pay off your debt with the consolidation loan you only have to worry about paying down the consolidation loan not your old debts the benefit of using a debt consolidation loan is that you only have to be concerned with one payment as opposed