While researching reputable student loan consolidation companies I’ve recently come across this one which, initially, seems professional. However, a little research has turned up a quite a few warning flags and this company is certainly not one I’d recommend. […]
Although no one really enjoys repaying their student loans, it can be even more of a hassle if you had to take out multiple loans, especially if they came from different sources. Many students turn to loan consolidation to make repayment a little simpler. Instead of dealing with a bunch of loans and different providers, you only make one payment to a single lender. […]
With student loan debt at an all-time high, it’s a no-brainier that students themselves are struggling to make ends meet while plodding towards their higher education goals credit by expensive credit. However, behind the scenes, parents are often the ones who shoulder the majority of the responsibilities and it’s important to recognize their role. […]
When it comes time to repay student loans, many people feel overwhelmed or concerned about making monthly payments. Fortunately, most lenders offer at least two or three different repayment plans to fit different needs, whether you want to pay off your loan as quickly as possible or need to make smaller payments. The following list outlines the general policies of various repayment plans. Policies vary between institutions, so be sure to ask your lender about their specific plans. […]
1) Educational debt is a double-edged sword. With steady and gainful employment becoming relatively scarce and the United States population increasing, more people are having to make tough choices. Many are having to decide between becoming indebted while trying to make a living without a college education, or becoming indebted by taking out one or more student loans in hopes of pursuing a profitable career by earning a college diploma. […]
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. […]
Consolidation of student loans can sometimes be a tough choice for some students to make. Although it does decrease the amount of payments down to one each month, the student will have a longer time of paying of all of his loans through one consolidation company. Another added benefit is that it eliminates the need to remember several interest rates of different lenders and only focus on one, which could end up being lower than some loans if they are at variable interest rates. So how does one find the best consolidation rate for their student loan? Here's some steps he can take to avoid getting crushed by high interest rates. […]
Planning for college can be a daunting task for most people. With the costs of a college education on the rise, more and more people are turning to student loans to help them cover the costs. These loans come in several forms, but are basically broken down into two groups: federal and public loans, each with its own advantages and disadvantages. But regardless of where the loan comes from, there are a few things to keep in mind when applying for these loans: […]