In this day and age, we're used to one-stop shopping for practically all of our needs. Sometimes even the Internet lets us skip any paperwork altogether and apply for any loans we might need in one fell swoop. So you might be asking yourself, can I fill out one application for all of my student loans? There's so much information an applicant needs to provide — it would indeed be so much easier to fill out just one packet or online form. […]
It is becoming more commonplace for students to have multiple loans in order to afford the high costs associated with college. However, there are options to help reduce the costs associated with loans and interest rates, and one of these is consolidation. Consolidation is the combining of loans together and paying a lender one fee each month to cover the costs of the other loans. This can make it much simpler for students who are struggling with paying off their student loans. […]
Are You Seriously In Debt? If you are having trouble paying your bills or are worried that your student may soon be facing foreclosure, rest assured that you are not alone. Debt management is within your reach, and repairing your credit score is a definite possibility. Most American consumers have faced a financial crisis in their lives. Whether your financial difficulties have been caused by a job loss, overwhelming medical bills or by everyday overspending, you can turn your debt around and, once again, face the future with a rosier outlook. It won’t be easy; it won’t be quick. But it can be done. And you can do it. […]
Here are the best articles from around the web this week talking about student loans… For the week ending Friday April 12, 2013 Student Loan News: 1. Digging Deeper Into Student Loan Debt: As student loan debt rises at an alarming rate in the United States, some analysts fear that this trend could cause another economic crisis. From 2005 to 2012, student loan debt grew from $364 billion to $904 billion — an increase of 13.9 percent annually. In a recent Federal Reserve Bank of Kansas City working paper, Kelly Edmiston, Lara Brooks, and Steven Shepelwich concluded that: […]
There is always the difficult choice for an undergraduate or graduate as to whether he should take out a federal loan or a private loan. Each has its own benefits and drawbacks, depending on which lending company he is going with. For example, federal loans can be tax deductible, while private loans are not. Another is that federal loans can be forgiven in all or in part if the student is performing certain kinds of service, such as military service or practicing medicine in certain kinds of communities. […]
1) Choosing an expensive college. There are a lot of things to consider before deciding to attend a specific college. First, decide what your major is going to be and whether or not your needs could be satisfied with a more affordable community college opposed to an expensive university. Many people choose to attend a cheaper community college for their associate’s degree before moving on to a more expensive school for their bachelor’s degree or higher. If you plan to do this, make sure that your classes and credits can be transferred. […]
Finding a credit card that's right for graduates and undergraduates in college can be difficult, especially for cards that provide needed incentives as well as helping to pay off student loan debt. Several major banks are beginning to develop credit and debit cards that are beneficial to college students by providing cash back that can be used towards the payment of loans, while building up the student's credit rating and raising his credit score. One such credit card is the Discover It credit card, issued by Discover Financial, and here are a few of the financial features it has that makes it one of the best credit cards for graduates and undergraduates to get. […]
Loan consolidation can greatly simplify the costs for graduates and undergraduates by reducing multiple loan payments to one monthly payment with only one interest rate. The time period for repayment is extended, but because of an increased interest rate, the student can end up paying a lot more than each of the loans separately. However, consolidation can make payments more affordable on a monthly basis, especially for those students that have not yet found employment, which can be a daunting task in the current economy. Federal Direct Consolidation Loans can provide a variety of benefits for those wishing to have their federal loans lumped together into one lump sum. […]