Friday, 31 October 2008

Student Loans – Research Before You Borrow

It is important for you to know that student loan lenders may vary on different areas like interest rates, offers and terms and conditions. It is best to research some selected lenders and compare what they offer to make sure that you will get the student loan that suits your needs and gives you the financial flexibility.

As you may know, student loans are today’s largest form of student aid. The student loan debt is even today’s one of the major problems of most student borrowers.

Take Time To Research Before Your Borrow

Many people find it easy to rush through the student loan process. Before you consider borrowing a student loan for your college, think first how much loan you really need. Just borrow what is enough.
There are several options available for student loan borrowers. Note that the lower the interest rate, the less pricey the student loan is.

Student Loans To Consider

Federal Perkins Loans

Federal Subsidized Stafford or Direct Loans

Federal Unsubsidized Stafford or Direct Loans

Alternative or Private Loans

As you may know, most of the students thinking for student loans have access to a special loan source these days. These sources should be considered, like the Air Force Aid Society, have student loans terms that are comparable to the Perkins or Subsidized Stafford or Direct Loans.

Federal PLUS Loans

Private Loans or Alternative Loans

Try to estimate your student loan payments before you borrow.
Always note that as a student loan borrower, you are not required to take the full amount of the loan you have been offered.

Don’t ever forget about student employment as an alternative for borrowing. Apply for the student loan right away. As mentioned, planning and thinking your moves for taking out student loans is very necessary for a successful borrowing.

Questions To Ask Before Your Get A Student Loan

Typically, they offer information about financing your degree, the importance of good credit, managing your student loans while in school, and even repaying your student loans. Be sure the ask questions about these important factors.

Under the accepted standards of borrowing student loans, it is stressed that you can borrow up to the cost of attendance, as determined by your school, less other financial assistance you might be receiving. If you prefer to consider borrowing student loans to finance your education, just expect that some of the lenders these days have borrowing limits placed on student loans. For instance, the federal government places annual and aggregate borrowing restrictions on federal student loans, and the aggregate limit is usually the total amount that every student can borrow in the span of his or her education.

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Thursday, 30 October 2008

Student Loans – Realize Your Academic Dreams

Student loans are really a convenient way of fulfilling academic dreams. Student loans are given to college students who have enrolled in a college and have completed at least one semester of the course. Student loans are provided generally to students who are bright in academics. Private lenders provide student loans with or without guarantee from the government.

When government gives the guarantee for student loans, then it could be two types, unsubsidized or subsidized student loans. Let us discuss both these student loans one by one.

Subsidized student loans have a lower yearly limit. The government pays the interest of the student loans when the student is in school.

Unsubsidized student loans usually have a higher yearly limit. The student pays the interest of the student loan. If the student chooses not to pay the interest during the schooldays, the interest amounts are added up and included with the balance amount that needs to be paid. Usually in all student loans, repayment schedule starts after a certain period. The period could be from 2 to 5 years. It does not matter whether during that period you finish your studies or not, the repayment of the student loans starts as scheduled.

Student loans come with a very convenient interest rate as it is meant to help a student, who is about to start his/her career. The interest rate of the student loan depends on the market interest index. With the index the rate floats. If you repay most of the loan amount during low rates, you can save a huge amount of money. This is called student loan consolidation.

The repayment period of the student loans could span up to 25 years. The duration depends on the loan amount. Small student loans have shorter repayment time and a large student loan would have a longer repayment period.

With student loans tuition fees, purchasing of books and stationary, hostel expenses and healthcare expenses can be taken care of. Some student loans also provide for study material like computer and Internet. Some even provide automobile expenses for the convenience of the student.

Every student does not come from a financially well off family. Many students come from a humble background but could do well in academics. In such a scenario student loans are a good option for them. The repayment of the student loans starts way after the time of getting the loan. By that time the student can study and get a job and in many cases can repay the loan on his/her own. The parents don’t have to carry the huge burden of expenses related to studies. Definitely taking student loans for studies is good for the child’s career and of course for life.

After finishing studies a person who has taken a student loan can repay it when he lands a job. It is up to the person whether he or she wishes to pay a lump sum and finish the loan. All in all student loans are great for a person’s career.

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Monday, 27 October 2008

Your Student Loan Financial Obligation

The skyrocketing expenses of college tuitions have created a requirement to get a student loan these days. College students need to be able to pay tuition costs, as well as purchase books, food, gasoline, and pay for utilities such as cell phone bills, recreation expenses, - the list goes on. Various college loan types help students to be able to pay for their multiple college expenses. However, these loans must be repaid under certain stipulations.

Here are some types of student loans that have different requirements and time requirements for repayment:

Direct student loans are loans that must begin to repaid 6 to 9 months following the student having completed school courses. A direct student loan is issued through the college that the student is going to, which allows lower interest rates than guaranteed student loans.

Guaranteed student loans, also called Stafford Loans, have low interest rates. Students can try to get either a backed or unbacked student loan. With a backed loan, the government foots the bill for the interest for you during the time you attend school. Subsidized college loans are based on the student's financial need. Unsubsidized college loans charge interest while you are attending college. You must start paying on the principal after you have completed school. Both of these kinds of loans require that repayment begin 6 months after the student has completed their education.

Federal parent loans, also called PLUS loans, are student loans that are not dependent upon your income, but loan companies do look at personal credit history. Parents and guardians that have a dependent child who is in college at minimum part-time can apply for the PLUS loan. Interest rates for these loans are usually around 9% or less.

Literally any college will let you to use a direct student loan, guaranteed student loan or PLUS loan. It's essential to diligently study all possible options for financing ongoing education. Your future life is linked to your financing, and that lifeline is your college loan.

For more detailed information about student loan financial obligation, try visiting - a popular site that includes information about getting student loans, and federal and private student loan consolidation.

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Saturday, 25 October 2008

Student Loans UK- Helping the Noble Process Called Education

Nowadays course fee of higher studies is very costly. Due to this many students find it difficult to continue their studies. Students loans UK are designed to provide financial help to students who can’t afford higher studies. There are many banks, financial institutions and lending firms that offer student loans UK. Student loans UK carry low interest rate compared to other loans. With student loans UK every student can pursue his dream.

Student loans UK : prerequisites

Students who need financial help to pursue higher studies can apply for student loans UK. Students loans UK is available in both forms secured and unsecured. To avail secured students loans UK you’ll have to place a security against the loans amount. On the other hand you don’t need to place any security to avail an unsecured student loans UK. With student loans UK you can meet all your requirements like tuition fee, hostel fee, and extra charges like purchase of books and so on. Generally a graduate student can avail a loan amount of up to ₤13,510. Student loans are very easy to pay. The repayment starts only after you start earning an amount of ₤15, 000 yearly. Student loans UK carry low interest rate that varies from 5.6% to 6.3%.

Student loans UK : suggestions

While applying for student loans UK, look for lenders that provide loan not only for basic needs like tuition fee, hostel fee etc but also for other expenses like computer fee, books etc. you can also apply for student loans UK via Internet. Online application method is very easy, requires less time, is hassle free and requires less paperwork. To get better deal you can also search for lenders online. You can get loan quotes from different lenders and then compare them to get the best deal.

Student loans UK : benefits

Students loans UK are very helpful for students who can’t afford to pursue higher studies due financial problems. Such students can continue their studies without worrying about finances. Students loans UK carry low rate of interest and can be easily repaid. The repayment duration starts when students complete their studies. With students loans you can continue your studies without the need of doing any job and thus save your precious time. Student loans UK is available for people up to 54 years of age. Lenders provide considerable time for the repayment of student loans UK. With student loans UK you can shape your life the way you want.

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Tuesday, 21 October 2008

Bank Consolidation - Student Loans

Bank consolidation enables banks to provide a combination of financial services as a loan package for students. The student is able to get loans from two or more banks which enable easy accessibility for the student to gain loans. By combing more than two banks the student gets a guarantee of getting the loan and that there would be a continuous flow of finance that a student will get though the study period.

Advantages of Bank Consolidation

Students can gain various advantages through bank consolidation some of which include the following:-

1. Lower interest rates- As the student is getting the loan from more than two banks he can benefit from the finances that are provided as there is a steady flow of finance that would allow the student enough time to repay the loan. As the banks decide a loan for student they would provide the student a competitive interest rate which would set the rate of interest at a low level.

2. Monthly payments- the monthly payments are distributed amongst the different banks which would enable the student to pay the loan with lower interest down payments. This enables the student to have an easy monthly payment of the loans.

3. Incentives- After a couple of month’s bank consolidation provide the student with reduced down payments which can be as low as 0.5%. At this level of interest payments students are encouraged to pay the installments on time so as to get better incentive benefits.

However since the student is gaining loans from more than two banks there would be difficulty in reaching the right agreement on the loan features, which the student may not find attractive. As the bank consolidation student loan is a conglomeration of more than two banks a student can expect better loan security through Bank consolidation student loans.

Mary Foster is a Financial Adviser with 10 years as an Accountant and Student Loan Consolidator. She is the author of Bank Consolidation Loan Student Weblog. Read her latest articles and recommendations to help find a debt free plan that works.

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Monday, 20 October 2008

Private Student Loans Help

Private student loans help are based on both income and availability. What happens if you can not afford college expenses and you do not qualify for a student loan? An alternative choice for you and your parents is a private student loan. These are loans done through private lenders instead of the federal government. The advantages you get from private student loans help is that they have many of the same benefits as federal student loans.

A private student loan is usually a low-interest student loan. The money can be delivered in as little as five days, and the money is given to you instead of the university or school you are going to attend. You are then responsible for paying the various educational expenses acquired.

These private student loans can be used for any and all college expenses. Things like tuition, books, supplies, computers, and living expenses are all things that qualify for private student loans help. These loans are unsecured, meaning that no collateral is needed. The loans are credit-based meaning that you might need a co-signer if you have not established some credit history.

This kind of student loan has other advantages similar to federal loans. The interest and principal payments can be deferred until you graduate from school of your choice. For most of these private student loans, you are required to be attending school at least part time for the deferral of payments and interest.

When you do graduate, the private student loan can usually be deferred for six months until you find employment, and then you will generally have a variety of repayment options available so that you can tailor your payments to your income. When you attain your dream job.

Don’t let the high cost of a college education deter you. There are options available even for those who do not meet low income standards required by federal programs. Take time to do some research and you will soon be on your way to obtaining your student loan.

Other types of Student Loans Help:

Not all student loans for college are obvious and right in front of you. There are two sources for financial aid that are often overlooked. Each of these will be discussed in more detail below. Parents tend to plan their children’s future well before the child is even born. Although mom and dad just know their child will be a genius and will be offered full scholarships, they also try to be ready just in case that isn’t quite the case. To that end, many parents will have life insurance and annuity plans in place that will mature in time for their offspring to take advantage of the financial rewards.

By taking out a permanent life insurance plan, it can be paid for in a certain number of years. This type of insurance can then be cashed in and the payout can be applied to the child’s educational needs. Parents will also cash in this type of policy and invest it in an interest bearing account thus allowing for a growth fund that will grow as the child ages. As with retirement funds below, some companies allow student loans against the face value of the policies that can then be applied to educational expenses.

One or both parents may also set up a retirement fund, such as a 401k. After a period of years, these monies can be taken out, pre-tax and applied to a child’s education. Some company retirement funds allow the employee to just borrow against the fund for educational purposes. For tax purposes the Roth plan is also a possibility. To get a clearer picture of how either of these is best used, one should consult a tax professional. By knowing ahead of time the ultimate purpose of this plan, the professional can help direct the individual into setting up the proper deductions.

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Thursday, 16 October 2008

Student Loan Consolidation - Federal Student Loans

Student Loan Consolidation is all about combining all the loans you have and allowing one lender to pay off all the loans. Student loan consolidation is something like a refinance mortgage loan that allows individuals who are in debt to make their payments in a better and more convenient way.

When your loan is combined it allows you to make regular payments at lower interest rates and makes the debt more manageable.

There are different types of student loans available the best way to categorize them is Federal student loans and private student loans.

Federal student loans are initially run through the US Department of Education's Federal Student Aid programs, and are easy to avail. The Federal government usually allots approximately $60 billion for student loan consolidation purposes and these help students pay off loans, work and study and helps supports various grants.

One of the most popular forms of federal grant programs is the Stafford loan for students but others include military and ROTC plans.

The second category of loans is the private student loans. These are administered by lending companies like Sallie Mae. These companies provide unsecured loans and then charge high interest rates. While their rates are higher than federal grants they have more flexibility of payments for students.

When attempting to consolidate your loans you should separate the private and the federal loans. Federal loan consolidation has several advantages some of which are:

- Low interest rate [however the rates keep changing]

- Long term loan repayment plans

- Low monthly payments

- One lender

The federal student loan consolidation services offers students a reliable and convenient way to pay off their debts without overburdening themselves with debt as they struggle to make their way in the world.

Wednesday, 15 October 2008

Managing Student Loan Debt

Consolidating student loan debt is the best way for a person to manage their money and debt right out of school. Typically a person will have a large amount of debt collected through college. This might include car debt, credit card debt, and student loans. In order to keep track of it all and to make timely payments, the student should consider consolidating student loan debt to minimize the amount of worry each month. By getting a student loan consolidation, students can take advantage of the lower interest rates on their student loans. Consolidating student loan debt is the best way for a student to learn about money management in the “real world.”

When a student chooses to consolidate student loan debt, they are basically combining all of their student loans into one. The interest rates of the loans are also combined and averaged to become the interest rate that the student will pay on the student loan consolidation. By lowering the interest rate on the student loans, a student can focus on getting all of their debt lowered and plan out their budget every month. Being able to manage finances and other debts in addition to student loan debt is a good practice, and will benefit the student in future financial dealings. By making timely payments on a student loan consolidation, the student is making their credit report that much better.

Often times, student loan debt will have the lowest interest rates of any other type of debt that a student will have. While many people suggest paying off the higher interest debts first, it will affect the student’s credit history if they do not pay their student loans. When a student misses multiple student loan payments, their student loans become defaulted. A defaulted student loan will put the account on hold until the student can get their loans current. When a student has a defaulted student loan, their credit history will get flagged. There are ways to get the credit history back to normal; however, when they go to apply for future finances like a mortgage or a car, their credit report will show the default student loan.

A student loan consolidation helps students to get control of their debts and finances when they are out of college. For many people, a student loan consolidation helps to make paying student loans back easier with less hassle. Most students get their student loans consolidated within their grace period, which is beneficial for many reasons. Interest rates always go up in July of each year. So when a student consolidates their student loans, they can take advantage of lower interest rates.

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Monday, 13 October 2008

How Student Loans Work

Students have many options for financing the cost of college. Loans are just some of those options. However, all avenues for securing scholarships and grants should be pursued before trying to find a loan. This is because scholarships and grants do not have to be paid back, while loans do. There are many different types of loans available for consideration, and many factors of which you should be aware.

First of all, it’s best to get your Free Application for Federal Student Aid (FAFSA) in early. In fact, it should be turned in as soon as you or your parents have mailed in your annual income tax forms. While the federal government uses this information in order to assess your need for aid, state governments also offer grants based on your form. Most of the time these state grants are first come first served, so the earlier you apply the better chance you have of receiving this type of financial aid. Also, this is the method in which you apply for government loans as well.

If you find you did not receive enough aid to cover your expenses, move on to applying for a loan. There are several types of government loans to consider. The first is a Parent Loan for Undergraduate Students (PLUS) which puts the responsibility of repayment on parents, at an interest rate that’s currently 8.5 percent. There is no limit on the funds, and repayment must begin 60 days after disbursement with no grace period. There is a credit check involved. If the parents are denied the loan, the student will have an increased limit when they apply for Stafford loans.

Stafford loans are either disbursed by banks or directly by the federal government. There are subsidized loans, meaning the government pays the interest while you are in school. They are based on need. There are also unsubsidized loans in which you are responsible for the interest which accrues. They are not need based. However, you can elect to defer the interest payments until after graduation. Students are not required to repay these loans until six months after they graduate. Loan caps differ depending upon how far along you are in your schooling. Freshmen can borrow up to $3,500, sophomores up to $4,500, and juniors and seniors $5,000. The limits increase if you are an independent student, your parents were denied a PLUS loan, or if you are a graduate student. These loans currently have a fixed interest rate of 6.8 percent, but some lenders may offer rate reductions based upon your career path, such as for teachers or nurses.

A school based loan, offered with funds provided by the government, is called the Perkins Loan. It is need based, subsidized, and currently has a fixed interest rate of 5 percent. Undergraduates are eligible to receive up to $4,000 per year, while graduate students can receive up to $6,000. Your school’s financial aid office determines if you are eligible to receive this type of loan.

A first time borrower can expect his or her loan funds to be delayed by about a month after those of someone who has borrowed before. This means you should apply for your loan as soon as possible. You will also be required to take an entrance interview in order to receive your payments. You will probably be able to take this interview online. Your financial aid office will assist you in completing the interview.

If you know you are going to need loan money to cover college expenses, check with your school’s financial aid office. Some schools do not accept Stafford loans, so you would need to make other arrangements for a loan or find a school that will accept one. Private loans from banks are an option, but be aware that most of the time you will be required to repay them without a grace period. There are some, such as one offered through U-promise, that can be deferred until after graduation. Also, since they are based upon credit scores, many students may not qualify due to a lack of credit history.

Don’t wait until the last minute. Get your FAFSA filled out, and explore all of your options regarding paying for college. This will ensure a smooth transition and better prepare you for any setbacks that may come along.

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Friday, 10 October 2008

Private Student Loans - Affordable Education Solution

Private student loans are an alternate student loan solution. They are private lending sources which make availing education loan affordable to you. So, if you are considering your government student loan option, distance loan options, and your financial aid package, student loans from private sources make a lot of sense.

Basically, private student loans bear the costs of your whole education expenses. This includes study costs, food and accommodation, tuition fees, books, and other costs associated with attending education. For all that, you get a good chunk of funds. You are charged competitively for this granted fund. Unlike government grants, student loans from private institutions do not get subsidy. Even then, these student loans do not go beyond your reaches.

Quarters of lending institutions are working in this regard. With that, competition amongst different lending sources becomes very natural. But good thing about this existing competition helps you to cull out the cheapest possible one. You can even compare different lending options also. For this you do not even go personally to the lender's site.

Importantly, student having bad credit can also apply for private student loans. Now, if they are affected by CCJs, IVAs, any loan default, arrear, etc., they can take out student loans to complete their education.

In short, private student loans are private lending sources. These sources work along the side of other student lending sources. They are perfect for students who are younger than college-age. But still require money to complete their education. These loans are a bit expensive as they do not get subsidy like that government grants have. But with an attentive effort, you can find out cost-effective student loans from private institutions.

So, private student loans are here to make funds available to meet your study demands. You will find this student loan at affordable cost.

Michal John is currently working as an expert author for Cheap Student Loans. His articles provide better knowledge of easy financial future for all people. For more details including Private Student Loans, college student loans, student loans visit

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Thursday, 9 October 2008

Knowing ACS Student Loans

ACS which stands for Affiliated Computer Service is a name of a company ACS Inc. which solely handles different types of data processing and data bases. The ACS student loan which is not different from any other type of federal student loan but not limited to Stafford loans can only be processed by this company ACS Inc. Before a student is granted an ACS student loan the school which the student belongs to must be accredited and approved by Federal funding.

The ACS student loans are used by other lenders and it will be advisable if you'll use it. It also includes loans from the campus, federal PERKINS loans. ACS Inc will handle the data processing and data basis because most schools lack agents with good knowledge and facilities on how to manage the loans, the documentation, repayment schedules and other necessary information on student loans.

ACS student loans are operated just like the online banking service where pin number is given to you to provide security. All you need to do is click your mouse and you'll get the necessary information on how to get a loan.

There are many online options for any student who wants a loan. These options are as follows:

The ability to make online payments at any time of the day through any computer in the world.

Chance to apply for different services or programs online.

The choice to select any other type of loan service that will be beneficial to you. Take your time and choose correctly.

Author: Ndimele Ikechukwu Phelim "Iyke Phelim"

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Tuesday, 7 October 2008

Student Loans UK - Explore Various Options For Timely Finance

Students require financial assistance for continuing collage studies as they do not usually have means to support them selves from own pocket. In the UK, students have many options in taking loans as per their repaying capacity and personal circumstances. Through student loans it is possible to smoothly meet all expenses towards the costly higher studies. In taking student loans the UK students have many options.

There are federal loans which are specifically given to students, federal loans that are offered to parents and then there are private loan given to students and parents. There is a government body called Student Loan Company which offers loan to students at lower interest rate. The biggest advantage of federal loans is that these loans are available smoothly to each and every student even if the student has adverse personal circumstances. For instance, federal loans are given without enquiries to bad credit students who could not pay off past loans in timely manner.

Another advantage of federal student loans for the UK students is that these loans can be paid back without feeling any burden. This is because there are many repayment options to choose from. You can choose to repay the loan when you leave collage and start earning through a regular and property job.

If a student has bad credit then one way to take student loans is that such a student should take the loan along with a co-signer who has a good credit history. This way interest rate is also lowered.

As far as private loans are concerned these come in secured or unsecured options. Secured student loans are of lower interest rate and greater amount can be borrowed for larger repaying duration. Unsecured student loans are of smaller amount and come at higher interest rate. In short we can say that the students have many options in the UK in taking student loans which they can exploit as suits to their requirements or circumstances.

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Monday, 6 October 2008

Easy Terms to Consolidate Your Student Loans Debt

Most students find themselves in debt after having taken loans to assist them pursue their education. If the debt is not paid in time then most of them will start experiencing bad credit as they fall into arrears. This starts to affect negatively on their credit score. To consolidate your student loans debt is the best available method to the elimination of their bad credit.

Nowadays it is possible to access loans in the market to assist students pay off or minimize their debts. These loans though they still fall into secured and unsecured loans, students prefer unsecured loans as they have not yet acquired any asset which could be used as security.

Most students prefer to use student government loans which offer lower interest rates, flexible terms and other conditions. These loans are known as Direct Consolidation loans and are financed by the U.S. Department of Education. Taking the loan a student is able to consolidate student debt into one affordable loan. With benefits like deferment , 6 months grace period and a repayment period of up to 30 years these loans provide the best options in the money market. The flexible repayments are based on your income, family size and the loan amount.

Stafford loans, Perkins loans, and PLUS loans among others all qualify to be included in the students consolidation loan.

Why suffer with bad credit when you can eliminate it by taking a student consolidation loan. Investigate online and find how to consolidate your student loans debt and eliminate your bad credit and reduce your debt.

Information on how to consolidate your student loans debt and start eliminating your debt visit

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Sunday, 5 October 2008

Chase Student Loans

You may want to consider working with a lender or a financial institution when applying for a loan, this is also the case with Chase Student Loans. This loan has a large coverage in terms of options for undergraduate loans, graduate loans and debt management or consolidation loans even after graduation.

Chase Student loans are also called alternative student loans. Thus they are private loans.
On the other hand, they are very different from federal student loans. This difference is clearly visible when analyzing with loan amounts, deferment periods, grace periods and many different laid conditions.

Note that private lenders will naturally pin a higher interest rate to their loans when compared with federal loans. This is also the case with chase student loans. A good side to the story is that they are very good supplement to the loans available from the government. You can have a minimum of $1,000 and qualify for as high as $40,000 per year.

Private student loans are strictly given for education related purchases and expenses. Expenses like the buying of books, travel in and out of school, lab fees, tuition, room and board while at school, bus passes for school movements and so on. These loans cannot be used for non-educational expenses and fees. Example of such expenses include buying a new automobile, summer vacation trips, clothing , doctors and dentist's bill etc

Chase Student loans can be used to purchase any material related to your study program. Materials like laptop computer with software related to your field of study.

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Student Loan Consolidation Is Great Money Management Which Save Money and Time With a Loan

Just finished College and you need to reduce your student loans?? Student Loan Consolidation is a great way to manage your money after you have completed school. With current history low interest rates your student loan consolidation couldn’t come at a better time. You can combine federal and private loans under a single low monthly payment. Student Loan Consolidation Is Great Money Management which save money and time with a loan consolidation

With your student loan consolidation you can save money and pay federal and private student loans off at the same time. With interest rates at record lows you can benefit with low monthly payments. After graduation consolidation loans can help reduce the stress of repaying by putting all your student loan all under one easy monthly payment. Everyone saves time and money with a loan consolidation.

Making the right step to reducing your student loan can make your future alot easier by going with a consolidation loan. Take the time to benefit from a student loan consolidation. Student Loan Consolidation is great Money Management which save money and time with a loan consolidation The stress can all be reduced with a loan consolidation and you will save money monthly with a lower payment overall. Apply for your consolidation loan today!!

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Friday, 3 October 2008

The Best Student Loan Consolidation Programs

Finding the best student loan consolidation comes later, after low interest student loans are aquired and used. Private student loans are extremely useful and can be utilized for purchasing computers, books etc. helping with daily living expenses and payment of tuition fees. Private student loans are offered to the student based on the credit history of the applicant and the interest rate also will rely on this criterion. Private student loans are usually only for credit worthy individuals, and mostly a co-borrower has to co-sign the loan document. Normally, those who have a superior credit rating will get the best interest rates, while bad credit applicants will get a higher interest rate on their student loans.

Student loans are different in different countries in the way they are devised, but then the common types of student loans available are the undergraduate loans, college student loans, private student loans and federal family educational loans.

Federal Student Loans

Students who look for financial aid during studies either go for federal student loans or private student loans. Federal student loans are offered by the US government, which can be availed directly through banks, student loan lenders, school, or from Federal Family Education Loan program otherwise known as FFELP.

Watch Out For Minimum Payment Schedules No matter what type of loan you choose the federal rules governing student loans set a minimum payment of fifty dollars.
The repayment of Federal student loans generally begins after the borrowing student has completed his or her education and an additional grace period after that.

Best Student Loan Consolidation

Many private student loans can be consolidated. One of the main advantages of consolidating student loans is that the interest rate is fixed and the repayment period is longer, making your monthly payments lower than the amount of your existing combined student loans. This student loan debt consolidation can be utilized to consolidate all debts relating to education, which also include private loans as well as federal student loans. The best time to look at consolidating student loans is within the grace period - the six months after graduation - as the interest rate is lower. If you are nearing graduation, you are probably thinking about consolidating your student loans through the Federal Loan Consolidation Program to lower your monthly payments up to 50%.

However, there is certain eligibility criterion that you must fulfill and a process that you must follow before you can be entitled to Federal debt consolidation of student loans.
An ideal student loan consolidation program will enable the students to pay lesser amount towards interests and also put an end to different kinds of student loans.
First and foremost, to find the best student loan consolidation to gather all outstanding payments into one single sum simplifies the task of managing all their student loans and their payments.

You can find student loan consolidation information that will help you get your affarirs in order. Best student loan consolidation.

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Consolidating Your Way Out Of Student Debt

When college is over and you are left with multiple student loan repayments and sometimes even in debt, consolidating your student loans will help manage your loan repayments and even help save some money. Though consolidating your student loans can be found very useful there are different factors you should take into consideration before making a decision.

Consolidating Student Credit Card Debt

It is important to know that when you join a debt consolidation program you will consolidate your debts that have aroused from student loans you have applied for during or before your studies. Most debt consolidation service providers do not provide programs for consolidating credit card debt. Do some research covering the topic of personal debt consolidation solutions for different solutions and ways to pay off credit card debt.

Consolidating Student Loans that have Fixed Rates with Variable Rates

When you were granted the student loan a repayment plan was also given to you. Federal student loans such as a Perkins Loan offer fixed and low interest rates. Consolidating these types of loans with other variable interest student loans will not be beneficial. The interest rate you are quoted will not exceed a fixed 8.25% interest rate, whether or not the average of the interest rates you have to repay is higher than 8.25%. Therefore, logic dictates that it is best to consolidate high variable interest debts. Doing so you will enjoy a fixed, and if lucky, averaged lower rate.

Consolidating Federal Student Loans with Private Student Loans

These two types of student debts should not be consolidated as one. Further more there aren't many, if any organizations that will allow you to consolidate these loans. If you are in debt because of private student loans and federal student loans you may still consolidate them, but separately.

Learn more about student debt consolidation before actually getting a loan, for more tips and strategies.

Compare bad credit student loan offers for the best solution available. See student loan advice for more info.

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Wednesday, 1 October 2008

Student Loans: Cut Monthly Payments on your Student Loans by Up to 42%

If you’re a graduate or college parent with any outstanding federal student loans, you may be able to lower your monthly student loan payments by up to 42% just by consolidating your parent or student loans. When you consolidate your college loans, you may be able to extend the repayment term on your parent or student loans by up to 20 years. With that longer repayment term, since you have more time to repay, the amount you have to pay each month will typically go down.

NextStudent, a leading Phoenix-based education funding company, offers a student loan consolidation program with no application fees, no processing fees, and no credit checks. By consolidating your parent or student loans, your monthly payments could go down by up to 42%.

Here’s an example: Estimated monthly payments on a $75,000 NextStudent Federal Consolidation Loan fixed at 7.25% and repaid over an extended term of 30 years are $512, versus estimated monthly payments of $879 on a $75,000 Federal Stafford Loan issued at 7.22% and repaid over 10 years — a 41.8% reduction in monthly payment amount. (Your actual payment reduction may vary and will depend on the terms of the student loans you’re consolidating.)

Replace Your Variable-Rate Student Loans With One Fixed-Rate Student Loan Consolidation

If you took out your Federal PLUS Loans or Stafford Loans prior to July 1, 2006, those student loans are subject to variable interest rates that will adjust every year. So when interest rates rise, your monthly student loan payments may also go up. Student loan consolidation puts an end to rate increases and rising payments.

NextStudent’s student loan consolidation program gives you the security of a fixed interest rate. By consolidating your federal college loans with NextStudent, you’ll replace your variable-rate college loans with a fixed-rate student loan consolidation loan and lock in your new monthly payments, so you’ll never have to worry about interest rates rising and leaving you guessing about your monthly payment amount.

Make Repaying Your Student Loans Convenient and Hassle-Free with Student Loan Consolidation

If you have multiple college loans in repayment and you’re dealing with the hassle of multiple bills, multiple due dates, and multiple monthly payments to multiple lenders, a student loan consolidation could help make your repayment easier to manage.

With a student loan consolidation program, you can bundle all your eligible federal parent or student loans into one single consolidation loan with just one monthly bill, one lender, and one monthly payment that’s fixed for the life of your student loan consolidation.

Apply in Minutes to Consolidate Your Student Loans

Typically, you can apply for a student loan consolidation in minutes. Just visit an online student loan consolidation lender or make a quick phone call to the lender of your choice. It’s fast, easy, and free to apply, and there are NO fees, NO credit checks, and NO co-signers required.
There are also no prepayment penalties. When you consolidate your federal parent or student loans with NextStudent, you’ll never be charged extra for paying more than the minimum each month or for paying off your student loan consolidation early.

Student Loan Consolidation for Private Student Loans
If you have private student loans in addition to (or instead of) your federal student loans, you won’t be able to consolidate your private student loans under the federal student loan consolidation program. But you may be eligible to consolidate your private loans separately with a Private Consolidation Loan, which offers the same convenience of a single consolidated loan for your private student loans.

NextStudent believes that getting an education is the best investment you can make, and we’re dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans, Private Student Loans and Student Loan Consolidation at

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