Once in a while, everyone needs a little help with the bills, and college student loans are no different. Many times, students apply for and receive student loans with one thought in mind, and that's finishing school and starting to earn a living.
Because student loans don't have to be repaid until the student has graduated from their college or university, it's easy to forget about the debt hanging over you, in the shadows, waiting to rear its ugly head. In addition, there is no limit to the number of student loans a person can receive, and while they may seem a blessing while you're in school, they can all come back to haunt you years later.
For students who have acquired more than one student loan, consolidation is often a wise and practical solution to combining debt into one easy, and hopefully, low interest payment. Because student loans often come attached with higher interest rates, it's common for lending firms and banks to offer consolidation loans with fairly low rates of interest. Of course, such rates may well depend on your credit history, whether or not you've paid bills on time, and also if you have collateral to put up to secure those loans. Such is usually not the case for those fresh out of college, but there's always the chance that you've bought and paid for your car, or furniture, or rent so that the lending firm can check your payment history.
Most local bank branches offer loans consolidation opportunities, but if you happen to get turned down there, you may want to try other lending firms. However, do proceed with caution when dealing with small corporations or companies and always make sure you read the fine print. Visit such companies with a list of questions, and if they don't answer them, try someplace else. If they don't address your concerns before you secure a loan from them, you can bet that they won't provide much help, or customer service, after you've signed on that dotted line.
Compare lenders and choose the lender who can offer you the lowest interest rate, and one who will work with you to determine your repayment schedule. Know what is common, and what is not, to better prepare yourself for making a wise decision. Never be in a hurry when it comes to financial matters, and better yet, make sure that any lender that you choose offers sound business practices and doesn't have any complaints lodged with the BBB or on online forum and discussion boards.
Some of the most important things to consider when researching loan consolidation options is to know a little something about interest rates, and always make sure that whatever loan you secure does not penalize you for early prepayment. While consolidating student loans is a good idea, it's a bad idea to undertake any financial move without at least knowing the basics. Play it smart and do your homework before you sign any binding and legal financial document.
About the Author
What do you need to know about student loans consolidation? Read more at http://StudentLoansRevealed.com.
Published At: www.Isnare.comPermanent Link: http://www.isnare.com/?aid=178241&ca=Finances
Saturday, January 31, 2009
Saturday, January 24, 2009
A Direct Student Loan Consolidation May Be Right For You?
A direct student loan consolidation may be an excellent choice for you and your situation. Ask yourself a few questions, gather all your statements and consider the fact that this may be a new beginning to getting your student loans paid off. Many students may put off consolidating their student loans; however they may find out that it is very simple and can put extra money in their pockets.
What Is Right for You?
Ask yourself the follow questions and then you can decide if a direct student loan consolidation is right for you.
Are you having trouble with your monthly payments?
Are you finding yourself in a default status or want to avoid one?
These are important questions to ask yourself and be honest because honesty is the only way that you will know if a direct student loan consolidation is right for you. If your monthly payments are driving you crazy, then this may be an excellent opportunity for you to apply for a direct student loan consolidation.
What are your current interest rates?
This is probably the most important question to ask yourself, because when you have a direct student loan consolidation the rate is fixed for the entire life of the loan. The rate is not to exceed 8.25%. That may be the deciding factor for you and you current situation.
Are You Eligible?
To be eligible for a direct student loan consolidation you must have one or more direct or Federal Family Education Loan Program loans that are in grace, repayment, deferment or default status. If you have a loan that is in an in-school status then it cannot be included in a direct student consolidation Loan. Take a close look at your situation and then you can decide the best path to take. Don’t be swayed by the unbelievable promotional offers flooding your mail box.
It may be possible that even if you do not have a direct loan you can still consolidate. If they include at least one federal family education loan and you have been unable to get a federal consolidation loan with payment terms that work for them. Each situation is different, that is why you must take a close look at all your options and do your research. Only then you will know if a direct student loan consolidation is right for you.
About the Author
John Mailer's articles look at students financial problems and the best student loans consolidation ideas using private student loans. His other site is about the thrills of whitewater rafting
Published At: http://www.isnare.com/Permanent Link: http://www.isnare.com/?aid=151690&ca=Advice
What Is Right for You?
Ask yourself the follow questions and then you can decide if a direct student loan consolidation is right for you.
Are you having trouble with your monthly payments?
Are you finding yourself in a default status or want to avoid one?
These are important questions to ask yourself and be honest because honesty is the only way that you will know if a direct student loan consolidation is right for you. If your monthly payments are driving you crazy, then this may be an excellent opportunity for you to apply for a direct student loan consolidation.
What are your current interest rates?
This is probably the most important question to ask yourself, because when you have a direct student loan consolidation the rate is fixed for the entire life of the loan. The rate is not to exceed 8.25%. That may be the deciding factor for you and you current situation.
Are You Eligible?
To be eligible for a direct student loan consolidation you must have one or more direct or Federal Family Education Loan Program loans that are in grace, repayment, deferment or default status. If you have a loan that is in an in-school status then it cannot be included in a direct student consolidation Loan. Take a close look at your situation and then you can decide the best path to take. Don’t be swayed by the unbelievable promotional offers flooding your mail box.
It may be possible that even if you do not have a direct loan you can still consolidate. If they include at least one federal family education loan and you have been unable to get a federal consolidation loan with payment terms that work for them. Each situation is different, that is why you must take a close look at all your options and do your research. Only then you will know if a direct student loan consolidation is right for you.
About the Author
John Mailer's articles look at students financial problems and the best student loans consolidation ideas using private student loans. His other site is about the thrills of whitewater rafting
Published At: http://www.isnare.com/Permanent Link: http://www.isnare.com/?aid=151690&ca=Advice
Sunday, January 18, 2009
5 Benefits Of Student Loan Consolidation
Are you sick of paying interest on your monthly student loans with no end in sight? Afraid of cash-flow problems that may prevent you from paying your student loans on time? I know I was and there is a solution to this problem. It is called student loan consolidation.
What is Student Loan Consolidation?
Student loan consolidation simply means consolidating all your student loans into a single loan with a monthly payment plan. Effectively, all your previous student loans are written off and a new student loan is created which you have to pay off monthly.
Benefits of Student Loan Consolidation
Here are some of the benefits of student loan consolidation
1. Lower monthly payments
By consolidating all your student loans into one loan, you only need to pay off one loan monthly instead of several student loans monthly. Thus, your monthly payment is lower
2. Pay only one loan monthly instead of several student loans monthly
It is a lot easier if you have to manage only one student loan instead of several student loans with different payment deadlines. Also, sometimes with many student loans, you may ended up forgetting to pay one student loan.
3. Low, fixed interest rate
By consolidating your student loans, you will be able to take advantages of low, fixed interest rates. Currently, by law, student loan consolidation rates cannot exceed 8.25%. Furthermore, national interest rates are at a 40-year low therefore this is a good time to get one.
4. No credit card check or processing fees
No credit card check is required during the application of a student loan consolidation. The payment plans and terms are usually quite flexible in that they can customize it according to your financial standing.
5. Make monthly student loan payment electronically
While it is not necessary to make payment electronically, most lenders will knock 0.25% off your student loan rates if you make payment electronically. Also, using direct debit from your bank account will prevent you from forgetting to make a payment.
Sometimes it can get quite confusing as to the qualification of applying for a student loan consolidation. The official stand from the government is that students who are still in their grace period or who are still studying in school may qualify for government student loan consolidation.
The government student loan consolidation nowadays are quite competitive compared to private sector, therefore I would recommend going for a government student loan consolidation. With so many benefits of getting a student loan consolidation, it is quite obvious to save money in the long run is to get one.
About the Author
Ricky Lim works in a finance company specialising in student loan consolidation. Get more information, tools and resources on student loan consolidation, visit this site: http://about-studentloan.com
Published At: www.Isnare.comPermanent Link: http://www.isnare.com/?aid=62389&ca=Finances
What is Student Loan Consolidation?
Student loan consolidation simply means consolidating all your student loans into a single loan with a monthly payment plan. Effectively, all your previous student loans are written off and a new student loan is created which you have to pay off monthly.
Benefits of Student Loan Consolidation
Here are some of the benefits of student loan consolidation
1. Lower monthly payments
By consolidating all your student loans into one loan, you only need to pay off one loan monthly instead of several student loans monthly. Thus, your monthly payment is lower
2. Pay only one loan monthly instead of several student loans monthly
It is a lot easier if you have to manage only one student loan instead of several student loans with different payment deadlines. Also, sometimes with many student loans, you may ended up forgetting to pay one student loan.
3. Low, fixed interest rate
By consolidating your student loans, you will be able to take advantages of low, fixed interest rates. Currently, by law, student loan consolidation rates cannot exceed 8.25%. Furthermore, national interest rates are at a 40-year low therefore this is a good time to get one.
4. No credit card check or processing fees
No credit card check is required during the application of a student loan consolidation. The payment plans and terms are usually quite flexible in that they can customize it according to your financial standing.
5. Make monthly student loan payment electronically
While it is not necessary to make payment electronically, most lenders will knock 0.25% off your student loan rates if you make payment electronically. Also, using direct debit from your bank account will prevent you from forgetting to make a payment.
Sometimes it can get quite confusing as to the qualification of applying for a student loan consolidation. The official stand from the government is that students who are still in their grace period or who are still studying in school may qualify for government student loan consolidation.
The government student loan consolidation nowadays are quite competitive compared to private sector, therefore I would recommend going for a government student loan consolidation. With so many benefits of getting a student loan consolidation, it is quite obvious to save money in the long run is to get one.
About the Author
Ricky Lim works in a finance company specialising in student loan consolidation. Get more information, tools and resources on student loan consolidation, visit this site: http://about-studentloan.com
Published At: www.Isnare.comPermanent Link: http://www.isnare.com/?aid=62389&ca=Finances
Tuesday, January 13, 2009
Finding The Best Student Loan Consolidation
Student loan consolidation has many clear benefits, but before you obligate yourself by signing your name on the dotted line, you should do your research and obtain all the information you can find about the subject. In doing so, you will enable yourself to find the best student loan consolidation available. The following paragraphs will provide some advice and tips to help you find the best solution available for you.
Know Your Credit Score
If your credit score is good, you should not have any problems getting a great loan rate. If your credit rating is over 660, you will automatically qualify for the best student loan consolidation rates, and you do not have to research any more. But if your credit rating is under 600, you may want to evaluate ways to raise it before seeking loan consolidation. Your credit score is a main factor in determining the type of interest rate you may receive from the lender. If you have good credit, they can believe you will pay back the loan without default. Thus, they will often offer you a lower interest rate. But if your credit is not good, they will give you a higher interest rate to help insure they will receive repayment. If your credit is very poor, you may not even qualify for student loan consolidation.
There are several ways to obtain a copy of your credit report including:
· online requests· written requests· by requesting in person
Knowing your credit score is the first step in gaining student loan consolidation information. Knowledge is power. The more knowledge you have on the subject, the better chance you will have at obtaining the best rates from lenders. Knowing your credit score can also help you to rid your credit report of reports that should not be there, as well as aid in the prevention of identity theft.
Obtaining Information From the Internet
With the world wide web gaining in popularity and growing, it is a wonderful tool in helping obtain the best loan interest rates. Educating yourself on the subject has never been easier. By utilizing any search engine, you can generate vast amounts of information with just a few clicks of the mouse. There are many tools available online, to assist you in finding the best interest rates available. These tools include:
· free credit check links· student loan consolidation calculators· interest rate estimators
Knowledge is the key in finding the best student loan consolidation rates available. The more knowledge you have on the subject, as well as knowing your credit scores, the better your chances of getting a good interest rate when consolidating your loan.
About the Author
Copyright 2006 – Ivar Rudi. Ivar suggests you find great market for less by shopping online today. For more loan information and resources check out: http://www.consolidate-student-loan-guide.org/
Published At: www.Isnare.comPermanent Link: http://www.isnare.com/?aid=46793&ca=Finances
Know Your Credit Score
If your credit score is good, you should not have any problems getting a great loan rate. If your credit rating is over 660, you will automatically qualify for the best student loan consolidation rates, and you do not have to research any more. But if your credit rating is under 600, you may want to evaluate ways to raise it before seeking loan consolidation. Your credit score is a main factor in determining the type of interest rate you may receive from the lender. If you have good credit, they can believe you will pay back the loan without default. Thus, they will often offer you a lower interest rate. But if your credit is not good, they will give you a higher interest rate to help insure they will receive repayment. If your credit is very poor, you may not even qualify for student loan consolidation.
There are several ways to obtain a copy of your credit report including:
· online requests· written requests· by requesting in person
Knowing your credit score is the first step in gaining student loan consolidation information. Knowledge is power. The more knowledge you have on the subject, the better chance you will have at obtaining the best rates from lenders. Knowing your credit score can also help you to rid your credit report of reports that should not be there, as well as aid in the prevention of identity theft.
Obtaining Information From the Internet
With the world wide web gaining in popularity and growing, it is a wonderful tool in helping obtain the best loan interest rates. Educating yourself on the subject has never been easier. By utilizing any search engine, you can generate vast amounts of information with just a few clicks of the mouse. There are many tools available online, to assist you in finding the best interest rates available. These tools include:
· free credit check links· student loan consolidation calculators· interest rate estimators
Knowledge is the key in finding the best student loan consolidation rates available. The more knowledge you have on the subject, as well as knowing your credit scores, the better your chances of getting a good interest rate when consolidating your loan.
About the Author
Copyright 2006 – Ivar Rudi. Ivar suggests you find great market for less by shopping online today. For more loan information and resources check out: http://www.consolidate-student-loan-guide.org/
Published At: www.Isnare.comPermanent Link: http://www.isnare.com/?aid=46793&ca=Finances
Wednesday, January 7, 2009
The Benefits Of Student Loan Consolidation
Are you tired of paying interest on student loans every month? Do you have increasing anxiety about your looming deadline to pay back your loans? There is an easier way that will ease your worries. Get your student loan(s) consolidated. One simple operation turns many headaches into one manageable situation.
There are many financial institutions offering school loans to college students. The problem is their interest rates are generally quite high. Students paying interest monthly on their loans often find it financially impossible to keep up. Then when the loans come due, it can be a huge burden and a disruption to building a career.
Student loan consolidation offers the best deal. Not only are the interest rates low, but also there is a 6 to 9-month grace period, only one monthly payment, and peace of mind.
Here are just a few of the benefits you can enjoy:
1. Make only one monthly payment, rather than paying several separately.
2. Make an overall lower monthly payment.
3. Applications don't require a credit card check or processing fees.
4. Have a very low, fixed interest rate that cannot exceed more than 8.25% at any time. National interest rates are now at a 40-year low.
5. Terms and payment plans that are very flexible. Providers can design your consolidation loan to meet your financial situation.
6. Ability to prepay your loan at any time without incurring a penalty.
7. Save an additional quarter-percent on your interest rate by paying electronically. Electronic debit option saves money and eliminates the chance that you'll forget to make on-time payments.
The government program is competitive with the private institutions. Student loan consolidation rates are fixed and can't be modified after the contracts are approved and signed. Whenever you graduate or cease to be a full time student, you can also enjoy the grace period that allows you time to become employed and repay your loans easily.
Students who are within their grace period, those who can't repay what they still owe on their student loans, as well as those who are still in school, may take advantage of consolidating their government-guaranteed loans.
About the Author
Visit http://www.consolidate-your-student-loan.com to learn more. Ron King is a full-time researcher, writer, and web developer, visit his website at http://www.ronxking.com Copyright 2006 Ron King. This article may be reprinted if the resource box is left intact and the links live.
Published At: www.Isnare.comPermanent Link: http://www.isnare.com/?aid=38175&ca=Finances
There are many financial institutions offering school loans to college students. The problem is their interest rates are generally quite high. Students paying interest monthly on their loans often find it financially impossible to keep up. Then when the loans come due, it can be a huge burden and a disruption to building a career.
Student loan consolidation offers the best deal. Not only are the interest rates low, but also there is a 6 to 9-month grace period, only one monthly payment, and peace of mind.
Here are just a few of the benefits you can enjoy:
1. Make only one monthly payment, rather than paying several separately.
2. Make an overall lower monthly payment.
3. Applications don't require a credit card check or processing fees.
4. Have a very low, fixed interest rate that cannot exceed more than 8.25% at any time. National interest rates are now at a 40-year low.
5. Terms and payment plans that are very flexible. Providers can design your consolidation loan to meet your financial situation.
6. Ability to prepay your loan at any time without incurring a penalty.
7. Save an additional quarter-percent on your interest rate by paying electronically. Electronic debit option saves money and eliminates the chance that you'll forget to make on-time payments.
The government program is competitive with the private institutions. Student loan consolidation rates are fixed and can't be modified after the contracts are approved and signed. Whenever you graduate or cease to be a full time student, you can also enjoy the grace period that allows you time to become employed and repay your loans easily.
Students who are within their grace period, those who can't repay what they still owe on their student loans, as well as those who are still in school, may take advantage of consolidating their government-guaranteed loans.
About the Author
Visit http://www.consolidate-your-student-loan.com to learn more. Ron King is a full-time researcher, writer, and web developer, visit his website at http://www.ronxking.com Copyright 2006 Ron King. This article may be reprinted if the resource box is left intact and the links live.
Published At: www.Isnare.comPermanent Link: http://www.isnare.com/?aid=38175&ca=Finances
Friday, January 2, 2009
Is Student Loan Consolidation Good?
Consolidating your student loan(s) is one of the smartest things that you can do. You should consider a student consolidation loan if you have several federal student loans or even just one large one.
Student consolidation loans will have fixed interest rates which are similar to those of the loans that are being consolidated. The amount that you can save through consolidation can be up to 58%.
Federal Stafford loans, Federal Direct Loans, Federal Perkins Loans as well as many others can be consolidated. Most of the time, they already have low rates.
Advantages
- You will have a single loan payment which is often lower than what you currently pay. - It is easy to set up.- It will help lower your debt burden.- You can secure the lowest interest rate at the time. - It can help you qualify for new or renewed deferments.
What To Consider
When you consolidate, make sure that the interest rate that you are offered is lower than your current rate. You want to pay off your student debt easier and maybe quicker too.
While consolidation can simplify the loan repayment process and lower your monthly payment, in the long run it usually increases the total amount that you will have to pay.
Student loan consolidation provides lower monthly payments by allowing you to spread the loan over 30 years in some cases. You are paying more payments, so be sure to compare the total cost of repaying your unconsolidated loans with the cost of repaying them through the consolidation loan.
The process of consolidating is very flexible. Consolidation is available from before you graduate down through years of repayment.
First, you need to gather information about your current loan. You need to know the balances and the interest rates, the names and addresses of companies and the names and addresses of personal references. The National Student Loan Data System can help provide you with the information that you need since it holds the most complete and accurate information for federal loans.
Paying Them Back
You will have 2 options to pay these loans back.
1. Pay a standard amount each month. This will include principle and interest. This is the lowest cost of interest paid way to go.
2. Or a graduated repayment. Here you start with lower payments that are only interest, but then they will keep increasing.
Usually repayment of your consolidation loans will begin in 60 days and will take from 10 to 30 years to fully pay back.
There are some questions that you should ask the lender before going forward.
- is there a rate reduction, for example for making your payments online or on time?
- does the loan meet your specific needs?
- is that the best interest rate available?
To get a student loan consolidation, you can still be enrolled in school or graduated. Either way, you'll find many lending options that will fit your needs.
About the Author
Visit http://www.consolidate-your-student-loan.com to learn more. Ron King is a full-time researcher, writer, and web developer, visit his website at http://www.ronxking.com Copyright 2006 Ron King. This article may be reprinted if the resource box is left intact and the links live.
Published At: www.Isnare.comPermanent Link: http://www.isnare.com/?aid=36849&ca=Finances
Student consolidation loans will have fixed interest rates which are similar to those of the loans that are being consolidated. The amount that you can save through consolidation can be up to 58%.
Federal Stafford loans, Federal Direct Loans, Federal Perkins Loans as well as many others can be consolidated. Most of the time, they already have low rates.
Advantages
- You will have a single loan payment which is often lower than what you currently pay. - It is easy to set up.- It will help lower your debt burden.- You can secure the lowest interest rate at the time. - It can help you qualify for new or renewed deferments.
What To Consider
When you consolidate, make sure that the interest rate that you are offered is lower than your current rate. You want to pay off your student debt easier and maybe quicker too.
While consolidation can simplify the loan repayment process and lower your monthly payment, in the long run it usually increases the total amount that you will have to pay.
Student loan consolidation provides lower monthly payments by allowing you to spread the loan over 30 years in some cases. You are paying more payments, so be sure to compare the total cost of repaying your unconsolidated loans with the cost of repaying them through the consolidation loan.
The process of consolidating is very flexible. Consolidation is available from before you graduate down through years of repayment.
First, you need to gather information about your current loan. You need to know the balances and the interest rates, the names and addresses of companies and the names and addresses of personal references. The National Student Loan Data System can help provide you with the information that you need since it holds the most complete and accurate information for federal loans.
Paying Them Back
You will have 2 options to pay these loans back.
1. Pay a standard amount each month. This will include principle and interest. This is the lowest cost of interest paid way to go.
2. Or a graduated repayment. Here you start with lower payments that are only interest, but then they will keep increasing.
Usually repayment of your consolidation loans will begin in 60 days and will take from 10 to 30 years to fully pay back.
There are some questions that you should ask the lender before going forward.
- is there a rate reduction, for example for making your payments online or on time?
- does the loan meet your specific needs?
- is that the best interest rate available?
To get a student loan consolidation, you can still be enrolled in school or graduated. Either way, you'll find many lending options that will fit your needs.
About the Author
Visit http://www.consolidate-your-student-loan.com to learn more. Ron King is a full-time researcher, writer, and web developer, visit his website at http://www.ronxking.com Copyright 2006 Ron King. This article may be reprinted if the resource box is left intact and the links live.
Published At: www.Isnare.comPermanent Link: http://www.isnare.com/?aid=36849&ca=Finances
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