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So, you've been to collage, got your degree and thousands of dollars of student debt. You've heard about student loan debt consolidation, but is it worth the bother?

In

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

a word, yes. Consolidating your student debt is one of the best things that you can do, provided your bear certain points in mind.

The first major benefit is the oppo

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

tunity to save money on your loan. If you have several federal student loans, it's possible to save more than 50% through consolidation. Your student consolidation loan will have

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

a fixed interest rate similar or even lower than the loans that are being consolidated. So in addition to saving money, the fixed interest rate will help you to budget.

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

And that's just the start of the benefits. Student consolidation loans are easy to set up, they'll give you a single monthly loan repayment which is often lower than you were payi

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

g, and it gives you the chance to secure the lowest interest rate available at the time. Consolidation may also help you to qualify for repayment deferments.

But there

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

are certain pitfalls that it pays to be aware of.

When you set up your consolidation loan (and therefore fix the interest rate that applies to your debts), make sure th

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

t the interest rate that you are offered is lower than the rate that you were paying. This might sound obvious but it's not unknown for people to end up paying a higher rate of in

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

erest on their student debts. Remember, if the interest on your loans is fixed at a lower rate it will take less time and less money to repay your debts.

Student loan d

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

ebt consolidation can help to reduce your monthly loan repayment in one of two ways. As we've already seen, it can fix the interest rate at a lower level. But you also have the op

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ion to spread the repayments over a longer period of time (up to 30 years in some cases). Please be aware that although this will reduce your repayments dramatically, it will also

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

mean that you have to pay interest on the money you owe for a longer period. So in the long run you will pay more overall.

So before you consolidate, always compare the

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

total cost of repaying your debts both with and without consolidation. If you need help finding out how much you owe, the interest rates and the loan companies, use the National

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

tudent loan data system. They have full details on federal loans.

Another major attraction of student consolidation loans is their flexibility. Many different loans, in

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

luding Federal direct loans and federal stafford loans can be consolidated. They can be taken out before you graduate or during your years of repayment. You also have a choice of

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

repayment plans.

You can pay a level amount each month. When you consolidate, the total debt (money borrowed plus interest at the fixed rate) and the repayment period a

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

e used to calculate your monthly payment. So if you pay that amount every month for the length of the loan, your debt will be repaid in full. This flat payment option is the cheap

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

st way to repay your debts.

Alternatively, you can opt for a graduated repayment plan. You start by making small payments which cover just the interest, and the payment

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

s slowly increase until you eat into the original debt.

Finally, before you sign on the dotted line, make sure you ask three questions;

1) Is this the bes

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

interest rate that's available?

2) Is there a reduction available for making payments on time or online?

3) Does this loan meet your needs?

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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