Wednesday, December 24, 2008

Importance Of Student Loan Consolidation Comparison

With the rising education cost, it has become necessary for students to take loans. A student tends to take loans from various sources, which leads to payment of high installments on a monthly basis. A student takes a lot of time to make high interest payments, which affects his focus on academics. In such a case, a comparison of student loan consolidation.

What Is Student Loan Consolidation?

Student loan consolidation combines all the student loans into a single loan. As a result, the student is required to pay a single monthly installment at a low interest rate. Also, no extra charges are to be paid, and the combined interest rate is much lower than previous loans.

Since there are various financial institutions providing student loan consolidation comparison is important to get the best deal. The apt time to go in for student consolidation is the grace period as you can get the loan at a low rate. This is necessary as the interest rates provided by different institutions are different. Moreover, the time period to repay the loan is around 10 to 30 years in case of government student consolidation loan.

It is advisable that you makes timely payments as money paid over a long time can ultimately add up to one's cost. The interest rate in the market is presently low. Thus, it is the right time to go in for student loan consolidation.

According to some college analysis data, almost 50% of students at graduate level took student loans of $10,000 in 2006. Previously interest rates were over 6%, which made it difficult for students to carry on with their studies without worrying about their repayment. However, it is currently affordable hovering around 3%. Student loan consolidation has thus become a necessity to carry on with stress free studies.

By Ricky Lim

Check Out the Related Article : Everything You Need to Know About Student Loans

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Sunday, December 21, 2008

Using a Stafford Student Loan To Pay For College

A Stafford student loan is offered to students to help pay for their education. The loan is named after Senator Robert Stafford of Vermont. Because a Stafford loan is backed by the Federal Government, they offer a lower interest rate, however, there are some very strict eligibility requirements.

Students applying for a Stafford student loan must first fill out a FAFSA (Free Application for Federal Student Aid) to determine their eligibility for the loan. This form can be quite intimidating, and has numerous financial stipulations and paperwork that is required to be submitted with it.

The good news, as mentioned earlier, a Stafford student loan has a lower interest rate, and there is no penalty for early payment unlike other loans. Additionally, many Stafford loans are subsidized, meaning that the interest does not start accruing until after the student graduates from college. This makes the loan much more affordable for the struggling college student, who has to use the money to pay for tuition and books along with room and board.

If the Stafford student loan in not subsidized, then the interest accrues to the loan. The student does not have to make payments while they are in school, but they will be responsible for the interest charges that accumulate while they are a student.

There are certain programs that allow a student to have the loan forgiven, so that they never have to pay it back. Teachers and some other professions fall into this category. It would pay to check with your lender to find out if your future career path may allow you skip paying your loan off.

How much you are able to borrow with a Stafford student loan depends on the classification of the student and grade level. Seniors are eligible for a larger loan than Freshmen, and independent students are also eligible for a larger loan that students classified as dependents to their parents by the university.

A Stafford student loan will go a long way to helping a student get enough money to pay for their education. And the lower interest rates make it a lot easier to repay when they graduate from college.

By Sydney Heiden

Do you want to know more about Student Loan, if yes, so you can try to check my other article on The Student Loan

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Wednesday, December 17, 2008

The Best Way To Handle Debts - Student Debt Consolidation Loan

While studying students can incur lot of debts because of expenses like tuition fees, accommodation, books etc. And, along that they don’t have any income source to pay off all these expenses, as a result their debts start increasing and becomes unmanageable. In such situation, the best way to handle those unmanageable debts is availing student debt consolidation loan.

Student debt consolidation loan has been specially designed to overcome the debt problem being faced by the students. By means of student debt consolidation loan, the student transforms his multiple debts into a single debt. In other words, multiple debts of the student are paid by the lender and student is left with an obligation to make single monthly payment to the lender. It also lowers the burden of debt payment. Fortunately, along with money, student can also save their precious time by applying for student debt consolidation loan through online mode.

Students also save an amount of money by availing student debt consolidation loan. This happens because of two reasons that are:

•Student debt consolidation loan carries low interest rate.

•Negotiation results in reduction in the amount of debt payment.

It is advisable that student should not accept any offer without comparing it with other offer being made. Comparing will help him (student) to determine the competitive deal. Interest rate, other overhead cost, term and condition should be taken into account while making comparison. Each and every clause of the loan agreement must be considered thoroughly as single unfavorable term can create problem in making timely repayments.

Therefore, student debt consolidation loan has made it possible for a student to lead a debt free.

By Alex Jonnes

Check Out the Related Article : Eligibility For A College Loan Consolidation

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Tuesday, December 16, 2008

Read Complete Steps To Super Easy Direct Student Loan Consolidation

By far, the hardest part of completing the student loan consolidation process is getting started. With so much information and a diverse number of program options, the endeavor can be a bit overwhelming. This article will help acquaint you with one of the most popular Federal student loan options. The Direct Student Loan Consolidation.

There are 3 basic categories of Direct consolidation loans..

1) Direct PLUS Consolidation Loan 2) Direct Subsidized Consolidation Loan 3) Direct Unsubsidized Consolidation Loan

Direct student loan consolidation offers a fixed interest rate that is fixed for the life of the loan. There are 4 types of Direct student loan consolidation repayment plans as follows...

1) The Standard Plan This option gives you up to 10 years to repay your loan

2) The Extended Plan This option allows up to 30 years for repayment. This plan can offer much lower monthly payments. However, you will pay more in interest payments as a result of the extended life of the loan.

3) The Income Contingent Plan The repayment life of this loan is typically 25 years. The monthly payments are determined based on your gross annual income. They also take into account the size of your family and how much you owe.

4) The Graduated Plan This plan typically has a loan life of 12-15 years. The term graduated in this case means the amount of your monthly payments will increase every 2 years.

Contact your Lender or the Department Of Education about applying for a Direct Student Consolidation Loan today. They can suggest the best course of action for your financial needs. Student loan consolidation could very well be the option you need to regain control of your life.

By Dorene Patterson

Check Out the Related Article : Eligibility For A College Loan Consolidation

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Monday, December 15, 2008

Student Loan Consolidation, The Solution for Student Financial Problem

Now aday the issue about Loan Consolidation is getting to become popular and common issue, and that issue come up some organization that offering the related service for help the student about finding the college cheaply and easily.

Various student loan consolidation programs are scheduled, in which they give counseling for applying and managing debts. Loan consolidation process involves bundling of different loans borrowed by the student, to cover their education expenditure to a single loan. With this, they have to pay one monthly payment instead of different payments and to a single lender.

The rate on which the interest is charged is fixed and is calculated by taking up the weighted average of the interest rates of the loans that you are willing to consolidate, which are further rounded up to the nearest one-eight of one percent or 8.25, which ever of the two is less.

Am I Eligible For The Loans?

If you want to be eligible person for student loans, so yoou must condider the point below.

1. You are dealing with more than one lender at the time of applying loan consolidation.
2. Must have eligible loans of more than $7500.
3. You do not have any student loan consolidated until date or have gone back to school due to some reasons and have acquired new student loan.
4. In case you have started repaying your loans or are in six month grace period following graduation.

Consolidation of loans is an easy task and can be easily availed by students and even by their parents. For the student debt consolidation, you can contact any bank or credit union that deals with Family education loan program or directly from the U.S. Department of Education. No matter from where you get the loans consolidated, the terms and conditions for applying the loan are similar everywhere.

Before doing research and applying for student loan consolidation, it is important to know the loans that can be consolidated. The list of such loans is below:

1. Guaranteed Student loan
2. Nursing Student Loans
3. Direct Subsidized and Unsubsidized Loans
4. Direct Plus Loans and Federal Plus Loans
5. Health Education Assistance Loans
6. Health Professions Student Loans
7. Auxiliary Loans to Assist Students
8. Federal Subsidized and Unsubsidized Federal Stafford Loans
9. Federal Insured Student Loans
10. Federal Supplemental Loans for Students
11. Federal Perkins Loans
12. Loans for Disadvantaged Students
13. National Defense Student Loans
14. National Direct Student Loans

To sum up, you should choose the best option and the best times for getting the loans consolidated, because it can be done once unless you move back to school again or take any new loan.

Student loan consolidation is a process, which helps the students to get rid of financial problems. The proper information about your eligibility to apply for it and other discount offers can be gathered under student loan consolidation program. For more options and information about student debt consolidation visit Student Debt Consolidation Loans.

Check Out the Related Article : Eligibility For A College Loan Consolidation

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Sunday, December 14, 2008

Students: Why Consolidate Student Loans

What is it?

When you consolidate student loans, you bundle all federal student loans that you receive to finance your college education into one. When a new loan is issued, the lender pays off the outstanding balances of the loans you consolidate. In short, it is a practical repayment management option for students.

Why Consolidate Student Loans?

People consolidate student loans to lower their monthly debt. When you consolidate, your original loan amount is paid off in full in return for a new loan for the combined balances. This new loan will have lower interest rate that is fixed for the life of the loan.


When you consolidate student loans, you could reduce your monthly payments by upto 54 percent. Other advantages include reducing your interest rate by 1 percent after you maintain your on-time payment record for a certain period. Also, there are no pre-payment penalties on consolidated loans.

Final Say

Once you consolidate your student loans, it is gone and there is no going back. You can also consolidate only once. So, be sure that you make the best Financial move that you can make before plunging ahead.Also remember that you need to research a bit to find the best service that can be the most beneficial one for you.

By Anand Srinivasan

Check Out the Related Article : Easy To Get Student Loans

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Student Loans - The Essence of a Student Loan

Student Loans, When the times is come when we attend to college, this is the new world for us, we are become the young adult, sometime we must to leave our home and finding boarding house or new apartment near our college, we have new burden such us manage our money for daily need, manage our money for college tuition and even, we have to spend our money to buying some book in our college, do you ever think that there are alot of expense when we are in college, and this is imposible for us to ask some money again to our parents.
Because of that, I think the best way to solve the problem above is "Finding Student Loans".

In today’s society, a college education holds a larger weight than ever before. There are many different employment positions that require the candidate to hold a college degree. This is why so many graduating high school students are eying the college world. However, not everyone has the ability to attend college without applying for financial assistance through a student loan.

Alternative methods of borrowing money, student loans are far easier and less hassle. Many students have found that credit cards create a lifetime of trouble down the road; therefore, they simply are not suitable for charging food, gas, textbooks, or any other living expenses. Not to mention, just a bad way of managing money in general. With student loans, you will have the ability to live in a comfortable manner while attending college, with much lower rates of interest than those credit cards will charge.

For many students, student loans are sought at the start of their college career. Most students do work a part-time job; however, this is not always enough to cover the many expenses of college. With student loans, the student can keep their attention on things such as studies and classes, without having to worry about many expenses. What is great about student loans is that for the entire time you are in college full-time, the loan will not need to be repaid until you have finished college for good, and graduated.

There are many different student loans available, it is important that you discuss all your options with a student counselor at the college. They can assist you in determining what type of loan best suits your needs.

ok that's all my information about "The Essence of a Student Loan", and I hope that information will be usefull for you, I hope you can visit this website regularly on "" to getting more Information about "Student Loans".

Thank you for reading this article.... :-)

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Friday, December 12, 2008

Is a Private Student Loan for You?

A private student loan is an option for students who prefer not to borrow money from the government or from Sallie Mae, or who have not been fortunate in obtaining grants and scholarships from both private and public foundations. The interest rates could be slightly higher than say a federal Stafford loan or a Perkins loan, but if the student, or his parents, has a good relationship with a private lender, the rates and terms could be negotiated…and often in a friendly manner.

A private student loan is sometimes called an alternative student loan and could be any type of loan, provided it was not obtained from a government source. Given this distinguishing characteristic therefore, a private student loan could be a private loan for a student with bad credit, a no credit check student loan (“that’s okay, we have your parents’ signature card on file”), or a graduate student loan – for students wanting to pursue a master’s degree.

Whatever form of private student loan you apply for, remember that a loan is a loan, no matter what it is called. This presupposes a commitment on the part of the lender to make available a definite amount of money to be placed at the lender’s disposal; and by the same token, it presupposes a commitment on the part of the borrower to pay the loan back. The payment terms and schedule are usually outlined in the loan agreement. These elements make a private student loan a legal obligation, a valid contract, if you will. Both borrower and lender therefore are bound by a legal document that cannot be breached, unless for a very justified reason.

If you compare the interest rate of your private student loan with that of the interest rate of your classmate’s federal government student loan, you may notice that his rate is lower. This should not come as a surprise. The US government has a student loan program that gives all US citizens a right to an education. And to make that right an affordable right and accessible to all, the rates on government student loans are usually much lower than a commercial loan – a Wells Fargo loan as an example.

Some private lenders advertise their private student loan programs in such a way that the student does not have to feel cornered about applying for a private student loan – lenders say there are no application fees, no application deadlines, the loan amount can be paid after graduation, and that the funds are sent directly to the student’s account and not to the school. The approval for a private student loan will be given in just a couple of hours or 24 hours, according to some lenders.

Before you sign on the dotted line for your private student loan, make sure you scrutinize the loan agreement.

By Guy Ray

Check Out the Related Article : Easy To Get Student Loans

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Wednesday, December 10, 2008

The Student Loan

The rising costs of college tuition have made it almost a necessity to apply for a student loan today. Students not only have tuition costs, but the cost of books, meals, gas, cell phones, recreation, etc. The variety of student loans enables students to take care of their varying college expenses. A student loan however, is a loan that must be repaid under specified circumstances.

Each of the following are student loans with differing conditions and time frames for repayment:

• A Direct Student Loan is a loan with a schedule of repayment six to nine months after the student has completed school. The Direct Student Loan is distributed through the school the student is attending, which enables the interest rates to be much lower than a Guaranteed Student Loan.

• Guaranteed Student Loans, also known as Stafford Loans have a low interest rate. A student can apply for a subsidized or unsubsidized student loan. A subsidized loan means the government pays the interest for you while you are in school. The subsidized student loan is based on the students financial need. An unsubsidized student loan means you will be charged interest while you are attending school. The principal must start being paid after you have finished school. Both types of student loans need to start repayment six months after the student has finished college.

• Federal Parent Loans or PLUS loans as they are known is a student loan not contingent on your income, but lenders do consider personal credit history. Parents or guardians who have a dependent child enrolled in college at least part-time are eligible for the PLUS loan. The interest rate is 9% or less.

Virtually any school or program will allow you to utilize the Direct Student loan, Guaranteed Student loan or PLUS loan. It is very important to thoroughly research all available options for funding long-term education. Your future is tied to your funding, which is your student loan.

By John Williams

Check Out the Related Article : Do You Qualify For a Studen Loan?

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Wednesday, December 3, 2008

Learning Why Student Loan Debt Consolidation Is So Important

These days it has never been more important to get a quality education, but unfortunately the costs of such a quality education have been rising far faster than the rate of overall inflation.

It seems that there are fewer and fewer students who can get through four or five years of college without some sort of financial aid, and that means that student loan debt consolidation is more important than ever before.

Exploring All Of The Options Available

When looking at student loan debt consolidation options it is important to explore all of the options available, and to make sure you are getting the best deal.

There are a number of different programs available for a variety of different students and it is important to take advantage of all programs for which you qualify.

Getting Details From Your Financial Aid Officer

One good place to start the search for the perfect student loan debt consolidation loan is the financial aid office at your school.

The financial aid officer at the college or university you are attending or have attended should have complete information on the various types of student loan debt consolidation programs, as well as some tips for saving money when consolidating those student loans.

Striking A Balance Between The Length Of The Loan And The Monthly Payments

When it comes to student loan debt consolidation it is important to try to strike the right balance between the length of the loan and an affordable monthly payment.

The length of a student loan debt consolidation can vary quite a bit, from only a few years in length to student loan debt consolidation loans stretching out for decades.

While a longer loan term will generally result in a lower monthly student loan debt consolidation loan payment, many students will be uncomfortable stretching out payments for that long.

It is important of course to get an affordable monthly payment on the student loan debt consolidation loan you choose, but it can be just as important to get that student loan debt consolidation loan paid off and out of your life.

By Shaunta Pleasant

Check Out the Related Article : Do You Qualify For a Studen Loan?

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Monday, December 1, 2008

Student Loans with No Credit History

A good credit history is an essential prerequisite for applying for a student loan. A student with a good credit history always stands in good stead to qualify himself for a student loan. So, it is always advisable that students who go for loans keep their credit within limits.

Many lenders provide loans to students with no credit history. There are two types of student loans namely, federal student loans and private student loans. The former are backed by the US government (coming under the department of education?s federal student aid programs) and are approved based on the financial need of the student, whereas the latter are considered as personal consumer loans. Refinancing of federal student loans is possible at far lower interest rates than private loans. Private student loans are approved after checking the credit history of a student or his parents.

Usually, a student loan with no credit history does not require any income or a co-signer. But this is sanctioned only for a small credit limit. To get larger credit limit, the help of a co-signer is essential. Before taking student loans with no credit history, compare the interest rates and the fees from different lenders. You can get student loans applying online also. The documents needed include proof of your identity, and your place of employment. It is better to look for loans based on your job history. It is advisable to have a thorough check on the terms and conditions of a student loan before signing the deal.

By Richard Romando

Check Out the Related Article : Do You Qualify For a Studen Loan?

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