<prompt> Human: Total rookie here so pardon any ignorance on my part. Currently I have a 46K student loan through Sallie Mae that I just dont see how I can come out from under Im living paycheck to paycheck as it stands and they want me to pay upwards of 500month. I contacted a student loan consolidation company and they are willing to lower that monthly payment to 90month for 20 years and 5.8 interest they calculated the interest as an average between all of the SM loans interest. The fee for them to do this is 499 and after 20 years the total payed will be approximately 22K with the remaining balanced being forgiven at the end of the 20 years. My questions: Is this a legitimate setup? Any proscons to doing it this way? Will I be completely cleared from Sallie Mae? Any red flags I should keep an eye out for? Is this the best deal I can get As I understand it there are a few companies like this maybe I can find a better deal at another consolidation company? As my income increases does the monthly payment also increase? Sorry for all the questions, it sounds good almost too good to be true and Im just trying to cover all bases before taking this loan and ultimately being forced into an even worst situation.  <response>: I wouldnt consolidate. As your loans are federal, you can likely apply for a different repayment plan on your own that would lower your payments and extend your repayment term. Go onto Sallie Maes wesbsite and apply for IBR or PAYE if eligible. 