The economic strains are all over the world and the people of America just like any other persons are going through difficult financial times. The most affected people are those who have debts that may involve student loans, hospital bills and even those with credit card debts. The realization of being in need of help will make an individual determine which government consolidation will be most beneficial to him. The choice of consolidation program depends on the eligibility of the person.The setting aside of money by President Obama ensures that there exist different debt consolidation programs that can be used by even average citizens to improve on their financial status. Even though the money has been availed, majority of the American people are not aware of this existence. The programs aim at reducing the rates of interests, which will in turn reduce one’s debts and hence making it easier for one in paying the debts. The lowering of default rates also creates an ideal situation for both the creditors and the persons credited.The use of government consolidation plan offers a number of benefits. First the interest rates are lowered and the payments are made into smaller and manageable slots for comfortable payment. Another benefit is that the person in debt will have only one monthly payment to make. And finally, with this kind of program one does not need to put up with collateral.The only thing one needs to do is find programs that will consider the person eligible for application and then make calculations of how much can be saved through them on a monthly basis. If not sure of which program will suit you best then consulting with a debt relief agent will help. This can be done for free and at the end of it all you will be on the high way to eliminating your debts.