Jun
17
Does Anyone Know How I Can Consolidate My Student Loans?
Filed Under Debt Consolidation | Leave a Comment
College was expensive. And unlike some of my friends, my parents were not able to foot the bill. If you were one of those people who were fortunate enough to have folks with big bucks, thank your lucky stars (and then thank your parents!). Anyway, I had to take out a couple of student loans so that I could pay for college. And now that I’m out of college, it is time to pay these student loans back.
I have heard of people consolidating their student loans. By combining your student loans you can get a better rate which can lower your payment. It can also help you pay them off quicker. Well this certainly piques my interest. So I started checking into it.
What I’m finding out is a little disturbing though. I may not be able to consolidate my student loans after all. I guess that privately funded student loans don’t play well together with government student loans. I can’t find any company that will consolidate a government loan with a non government loan. Is there a company out there that can do this? Why didn’t anyone tell me this when I was getting the loans? If somebody knows where I can go to consolidate my student loans, let me know!
May
8
Student loan consolidation makes sense. I guess you could say that I am a big fan of consolidation of student loans. The reason is very simple too: it saves you money! We all want to save money, right? Of course we do! So let’s take a look at student loan consolidation, if you qualify and what it is about.
Is student loan consolidation for everyone? Unfortunately the answer is no. If you have privately funded student loans (like from a bank) as well as government funded student loans (Sallie Mae), you can’t combine the two types of loans into one. These two animals just won’t ever play together! But if you have more than one student loan of the same type, read on.
By consolidating your student loans you can accomplish a couple of key things. For one thing your overall interest rate will go down in almost every single case. Also, by modifying the terms of the loans you can significantly shorten the term of the loans. That means you will spend less money but still pay off your loans even quicker than you had originally planned. And that is how consolidation of your student loans will save you money.
Apr
11
Interest rates are very low right now. And with the economy in the tank, it is easy to see why these rates are so low. But the economy is not going to stay in the tank forever. And you know what that means a far as rates go, right? It means that interest rates will go up.
Many of you have more than one student loan left over from when you went to your college or university. It is not a bad thing. Many of us need help with the crazy expenses that college life can bring. Many of us have no choice but to rely on these student loans if we want a higher education.
But eventually for all of us, there comes a time when we need to pay the piper! This can be a daunting task when it comes to multiple student loans. You may have several loans that have different terms and conditions. Some may be longer term and others may be shorter term. If you can consolidate your student loans into just one loan it will certainly make life easier. And here’s is the biggest bonus of all: If you consolidate student loans, they all end up getting paid off quicker on average!
Mar
13
Student Loan Consolidation Is Good
Filed Under Debt Consolidation | 2 Comments
I work at a company that specializes in student loan consolidation. Yea, I know your thinking that my job is more exciting than yours as you hone in on your sarcasm, but really it’s not too bad. It’s actually pretty fun, and it is almost always very rewarding. And there is no lack of work either. People need student loans to make it through college. And after these people get out, they all ask me the same question: “When is the best time that I should consider a consolidation of my various student loans?” The answer is almost always the same no matter who I am talking to too. The answer is right now!
First of all, having multiple loans is bad. Look, you just got out of college and are starting a career. And as far as the credit reporting agencies can see, all you have to show for yourself are a whole bunch of loans. It can help your credit to consolidate loans. Second, if you consolidate loans, you get them all paid off quicker. That’s the point isn’t it? Don’t you just want them to go away? And finally, it is easier and less stressful to make just one payment. So if you have multiple student loans, consolidate them now.
Feb
6
Know the Ins and Outs of Student Loans Before Applying For One
Filed Under Financial Aid | 1 Comment
Before applying for any student loan, it’s imperative that you do your research. Know what you are getting into before signing anything. Many of the companies that are now advertising like crazy on television are trying to snare naïve young people into borrowing more than they need without disclosing the full terms and conditions of the loan. One thing to remember when you’re taking out student loans is to only borrow as much as you need.
If you’re attending community college or a state college where you have resident status, the tuition will be much less than it would be if you’re going to a private college or a state college in a state other than the one in which you live. Also, try to avoid private lenders if you can.
You’re much better off getting a government loan that is subsidized so that you don’t have to worry about paying it back until after you’ve graduated, and interest doesn’t accrue during the time when you’re in school.
Many private, commercial lenders still charge you interest for the time when you’re in school, though they try to hide that fact in the loan paperwork. Don’t’ be taken advantage of by greedy and unscrupulous lenders.
Jan
30
When you’ve gone to school for a long as I have, you’ve taken out a few student loans along the way. Personally, I took out several because I kept changing my major and at one point, changed schools altogether. This can get costly.
Now that I have finally graduated, one of the first things I did was start to look for how I can consolidate my loans. I have a pretty good job, but would rather pay one payment for my loans than 2 or 3. It just makes my life easier that way.
So I’ve been searching online for different options for loan consolidation and hope to have some kind of solution before they actually start becoming due, which is in about 2 months. Anyone have any suggestions?
Jan
29
With the economy in such bad shape and banks reeling from all of the hits they’re taking, banks and other lending institutions are doing everything they can to drum up business, including making podcasts about student loans in order to attract the business of potential college students. While it’s great that there’s a wealth of information out there about all of the different types of student loans that are available, it behooves future college students and their parents to be aware of where this information is coming from. A great deal of the information available about student loans is coming from the lenders themselves.
Since they want the student’s business, they’re not exactly unbiased sources, so let the lender beware! Check out all sources thoroughly, and don’t just rely on information from once source. Your best source of information about student loans comes from the government agencies that regulate student loans and track abuses by lenders.
Dec
22
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Dec
16
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