7 Tips To Make The Most of Private Student Loan Consolidation

Just as the national student loan debt has risen, so has the popularity of student loan consolidation. The concept has several advantages and disadvantages. Possible benefits would be eliminating the need to juggle several different private student loans by reducing it to just one with a single lender. This benefit would apply only if you either don’t have federal student loans in addition to private ones, or you’ve been able to locate a consolidating lender who offers the consolidation of private and federal student loans together, a practice which is becoming ever more uncommon. In addition, you may be able to negotiate a lower monthly payment; you’ll only have to deal with the rules and regulations of one lender, versus having the rules and regulations of many lenders; and you might be able to lock in a lower fixed interest rate than you have on your existing loans. Also, if you should find yourself unemployed or sick, it’s easier to get leniency from a single lender than trying to work it out with multiple ones. […]

By admin|February 19th, 2013|Consolidation|0 Comments

6 Steps To Consolidate Student Loans

1. Determine your needs First, make sure student loan consolidation will benefit your specific situation. If you are doing well paying your current student loan bills on time or they are almost paid off, you’ll likely save more money keeping them as they are. Inspect your loan contracts to see if there are any pre-payment penalties which may offset any savings you might gain from reconsolidation. Contemplate whether the convenience of an extended payment term is worth the cost compared to your current student loan payment plans. Also, take into consideration that if you are or will be in a public service occupation and are or will be eligible for federal student loan debt forgiveness after 20 years, you will reset your debt payment timer and have to start over from the beginning with the newly consolidated loan to become eligible again. […]

By admin|February 12th, 2013|Consolidation|0 Comments

5 Repayment Options To Consider

Besides the total amount of your student loans, you’ll want to know what you can expect in terms of a repayment plan. This is one of the most important pieces of homework you should do when you decide to take out any educational loan. You might be tempted to push off thinking about repayment options – after all, they seem so far away in time – but the reality is, graduation day will arrive faster than you think, or you might be paying off some of the loan during school. […]

By admin|November 15th, 2012|Consolidation|0 Comments

Can Student Debt Consolidation Actually Help?

A debt consolidation loan can be a useful way to combine your debts and save money if you are paying off high-interest rate debt. By consolidating your debts into a loan with a lower interest rate, you can get great financial benefits. Done right, taking out a student debt consolidation loan can be a smart move. It can help you move your way out of debt. In addition, if you use a home equity loan or line of credit, the interest on a debt consolidation loan is usually tax deductible. (Be sure to check with your tax advisor.) Instead of having several credit card balances, you can combine them into one payment. Be careful, though. If you do take out a student debt consolidation loan, and then continue to run up credit card debt, you will be even worse off than you were before. […]

By admin|November 2nd, 2012|Consolidation|0 Comments

Bad Credit Student Loan Consolidation

When it comes to bad credit student loan consolidation, federal loan programs are, in most cases, the best way to go. Legitimate private lenders across the board, such as banks, require good credit from their borrowers in order to ensure competitive interest rates, and most private lenders will not even consider those borrowers who have a bad or no credit history. Unlike these private lenders, the government does not seek to turn a profit from their student loan consolidations and there are several federal loan consolidation programs that do not require credit history checks. […]

By admin|November 1st, 2012|Consolidation|0 Comments

Student Loan Consolidation Rates

Many college students will accrue several thousands of dollars in student loan debts throughout the progression of their academic careers. Trying to get the best student loan consolidation rates could save thousands of dollars. Whether these loans are federal or private student loans, the interest rate significantly influences the amount that the borrower will repay over the next several years. The majority of borrowers choose to combine all of their student loans with the purpose of attaining an overall student loan consolidation rate that is substantially smaller than the separate rates. […]

By admin|October 11th, 2012|Consolidation|0 Comments

Wells Fargo Student Loan Consolidation Review

Wells Fargo is one of the largest student loan consolidation companies in America. Wells Fargo offers student loan consolidation for loans ranging from $5,000 to $100,000. The private student loan consolidation offering from Wells Fargo can take 45-60 days to be processed however many people have reported it taking a much shorter period of time. Wells Fargo Private Student Loan Consolidation. […]

By admin|October 11th, 2012|Consolidation|0 Comments

Cedar Education Consolidation Review Body

CEDAR EDUCATION CONSOLIDATION REVIEW The purpose of consolidation loans is to absorb multiple loans under the single and unified umbrella of one loan. The greatest benefit of consolidating is in the aggregation of multiple monthly payments into a single monthly payment. There is no guarantee that consolidating multiple loans into a single loan will bring down the interest payment, or safe the borrower money in the long haul, but because the old terms in all the old loans are reset, all of this becomes negotiable under the controlling terms of the new consolidated loan. […]

By admin|October 11th, 2012|Consolidation|0 Comments

Chase Student Loan Consolidation Review

Before consolidating student loans, a former student must determine whether they financed their education using federal loans, private loans, or a mixture of both. This conclusion may not be as easy to determine and certainly would not be determined merely by asking “whether the student received funding from Chase.” Although Chase currently only provides private loans, not too long ago they were also providing funds for federal student loans. The reason a student must determine how they financed their education is because a federal student loan and a private student loan cannot be consolidated together, but must consolidate separately. […]

By admin|October 11th, 2012|Consolidation|0 Comments

cu Student Loan Consolidation Review

Compare the best loan consolidation rates – Here Considering which bank or credit union to team up with when you decide to consolidate your loans is a big decision and one you must make with careful thought and consideration. Cu Student Loan Consolidation is a credit union that offers students, or former students, an opportunity to place all of their private student loans under the umbrella of a single loan. […]

By admin|October 11th, 2012|Consolidation|0 Comments

Best Consolidation Companies

Wells Fargo Student Loan Consolidation Review

Chase Student Loan Consolidation Review

cu Student Loan Consolidation Review