New Delhi, May 3 -- Personal loans undeniably bring convenience, allowing for the consolidation of debts into a single, manageable payment. However, when it comes to student loan debt, some may view a personal loan as a swift solution for those struggling to afford higher education costs.

You may consider taking out a personal loan to settle student loans, but it may not always be the most advantageous choice. Here's a detailed look at the benefits and drawbacks to take into account:

Consolidation: A personal loan can merge multiple private student loans into one monthly payment, potentially easing financial management.

Lower interest rate: Depending on your circumstances, you may secure a lower interest rate with a personal loan than ...