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Student Loan Consolidation – Pros & Cons & Companies To Use

August 27, 2011

Student Loan Consolidation

Since many loan programs that students apply to give you the freedom to not have to pay monthly payments until you schooling is over, it is easy to forget about the money you owe all together, but when you are a week away from graduating, or already in your career, you have to map out a plan of attack to get your debt paid off.  Student loan consolidation can decrease your monthly payments by hundreds of dollars, depending on how much you owe.

By choosing to consolidate, you will both save money as well as be able to knock out your debt in record time, instead of being stuck with the debt for many years to come. But just like anything else, there great things and not so great things about student loan consolidation, the list of pros and cons will give you enough information for you to be the descision make whether or not consoliation is the way to go for you.

Student Loan Consolidation

Student Loan Consolidation – Pros

  1. One of the best parts, if not the best part of student loan consolidation is that you can group all of your loans programs into one lump payment, instead of worrying about dealing with multiple different programs and paying multiple different payments. This means that if you have any questions pertaining to your payment, the one company you are consolidating with can be your one stop resource.
  2. Student loan consolidation doesn’t require that you consolidate all your loans, you can pick and choose which ones you want to consolidate.
  3. Consolidating will no doubt make your monthly payment a lot cheaper than what you are paying now, and with all consolidation companies, your interest rate will be locked at whatever is choosen for you when your begin.
  4. Student loan consolidation companies are all competing for your business which means that there are plenty of benefits that will be offerd to you like reduction in your interest rates.
  5. The actual act of consolidating will never have a negative effect on your credit score.

Student Loan Consolidation – Cons

  1. Being that your interest rates are locked, if the median interest rates drop in the future, you will be stuck paying a higher interest rate to your student loan consolidation company than what you could of because of the drop.
  2. In the event that you happen do default on your payments, it will be reported to credit card bureaus and will effect your credit score.
  3. By extending your repayment time, your monthly payment will decrease by a lot, BUT, you will end up paying a lot more in the long run, so don’t be fulled by this so called “benefit”.
  4. Switching ot s student loan consolidation program can mean losing the perks and benefits of paying your loan payments to your current lender.
  5. Student loan consolidation programs generally have longer repayment periods which can act either as a pro or a con, being that it can take you longer to pay off the loan. This could be good if you don’t have a lot per month to pay, it can work to your benefit, but if you want to get it paid off fast, it might not be the best choice.

Now that you know both sides of student loan consolidation, you can now make the choice whether you want to make the switch or not. If you choose to do so, there are some incredibel and accredited companies to use. Here are a couple student loan consolidation programs that you can use:

  • Loan Approval Direct is a great company that has been doing student loan consolidation for many years and can slash your current monthly paymet by up to 60 percent, and a possibility to pay an interest rate which as low as 3 percent.
  • Next Student is another great resource to use for you student loan consolidation. This progam can offer you the benefit of getting also paying 60 percent less on your loan payment as well as having lower monthly payments if you have just gotten into your job after your completion of school.

These are two of the greatest resources to use when looking for student loan consolidation programs, that are both accredited as well as providing some of the best benefits around to their clients.

Student Loan Forgiveness – How To Get Loans Forgiven

August 27, 2011

Student Loan Forgiveness

Student loan forgiveness also known as student loan debt relief, could possibly be your saving grace when it comes to paying a lot less on a loan, or the elimination of it completely. Simply put, they can make your payment process stink a lot less. These programs have been known to eliminate debt which is in the thousands to even over 100,000 dollars. If you are a student right now or are finished with school and are contemplating how you are going to get out from underneath your debt, student loan forgiveness can be exactly what you need. The following information will provide you with with all the major information that details student loan forgivness and how you can be a part of it.

Student Loan Forgiveness

Student Loan Forgiveness – Main Overview

The Student Loan Forgiveness Act states that once you have started working one of the jobs that provides the benefit of loan forivess, you will have to pay 120 payments to your loan provider, after these payments, the rest of your debt is wiped out and you start off with a clean slate. You must make every one of the payments during this time, and if you miss one, you will be disqualified from the program.

Whether you have federal loans or private loans, student loan forgiveness covers both categories, but how exactly can you get your student loans forgiven, you may be asking? Well basically, student loan forgiveness can be attained through working a public service job. Some of the main professions that student loan forgiveness is found are in these feilds; medical law enforcement, lawyers, teachers, doctors among others.

Here are a few examples, but are certainly not limited to all of the jobs that offer forgiveness; volunteering for certain corporations like Peace Corps or Americorps, teachers who agree to teach in low income areas where teaching is needed most, a medical professional can work in a low income area where medical help is highly needed, going into law enforcement, serving in the military, working as a librarian or at a school library, going to work for the state or government.

This list is certainly a limited list when it comes to the opportunity for you to qualify for student loan forgiveness, so the best thing you should do if an option above doesn’t suit your particular situation is to inquire about it through your loan program as well as contacting corporations that are at the head of the feild that you wish to go into and were studying for. But in a nutshell you can qualify for student loan forgivness in many professions if you help provide the much needed help to those who are less fortunate.

Student Loan Forgiveness – What is the catch?

Often times the debt that is forgiven through student loan forgiveness can be considered taxable income, where you will be taxes as though you earned the amount that was forgiven. This may seem a little lame, but considering that you will not doubt save a lot in the long run regardless of this fact, student loan forgiveness still can be a great option to consider. If you truly want to make a difference and at the same time get a lot of your debt knocked out, participating in a student loan forgiveness program will bring you both of these benefits.

Student Loan Calculator Options You Can Use

August 27, 2011

The Student Loan Calculator Options

Student Loan Calculator

There are three different options that you can use when it comes using a student loan calculator that can help you with life during college and after you are done with college. The below information will describe to you the three different student loan calculator options as well as the benefits of using them, so you can get an overview of how they can help you in many different ways.

Student Loan Calculator – 3 Different Calculators

  1. The first one you can use is the Student Budget Calculator. Although it isn’t a student loan calculator, you will receive many benefits from it being a student. This calculator will ask you to enter information pertaining to the following subjects; yearly and monthly income, any tuition help like scholarhips, grants and help from family, yearly school expenses, and expected monthly expenses like food, utilities, telephone, internet, etc. After you have entered infromation in all the sections that apply to you, what will be computed will be what you need in monthly income to satisfy you monthly expenditures as well as how much money will be left over.
  2. The next student loan calculator that you can use which is there for you to determine if you can lower your monthly payments by grouping all your loans into one, is one called the Student Loan Consolidator Calculator. This option is a lot simpler than the Student Budget Calculator where you will enter information in three different categories and that will be, your loan companies (ex: Strattford), the balance of each loan, as well as the interest rate you ar currently paying on your loans. Like it was said in the begining, this student loan calculator can help you with seeing if consolidation your loans will save you money, without having to meet with a consolidation company just to do so.
  3. The next student loan calcluator is called the Student Loan Repayment Calcluator. This calculators main goal is to show you an estimate of what you payment plan will ecompass like your monthly payment as well as the total amount you will pay in monthly interest. You will receive your specific numbers to these sections by entering the number of monthly payments, interest rate as well as the amount the loan is that you are paying on. A great benefit of this calcluator is that you play with different numbers, and see how much money it would take to double up on your payments to pay if off quicker.

Student Loan Calculator – Conclusion

These are the three student loan calculator options that you can use that can help you with many things like, budgeting your college life, finding out if you will save more with the consolidation calclulator, and getting a birds eye view of what you repayment details will be when you start your payments. Using these student loan calculator options will enable you to be your own financial advisor and put you in the drivers seat to viewing and adjusting all the details when it comes to paying bills and paying off your loans.

Student Loan Payoff Calculator – How it can help YOU

August 27, 2011

Student Loan Payoff Calculator

The student loan payoff calculator, also known as the student loan repayment calculator is an excellent tool that you can use that can bring you many benefits when it comes to paying off your student loan. This article will show you exactly what the student loan payoff calculator is all about so you can get a feel for what it can do for you.

Student Loan Payoff Calculator

Student Loan Payoff Calculator – Overview

So basically you can be your own financial adviser when it comes to using a student loan payoff calculator with the main goal of showing you how long it is going to take you to pay off your loan that you have as well as that total interest you will pay, and how long among other aspects, being that there are different types. Often times these calculators can show you what you need to make in the form of a total of anual income in order to have enough money to make your monthly payments. In order to get this information, you will need to enter into the student loan payoff  calculator, both the number of monthly payments that you have on your loan, the interet rate at which you pay, and the principal amount of your loan.

Student Loan Payoff Calculator – Benefits

Now that you have a feel for what a student loan payoff calculator do and what you need to enter into them, you should also know about the benefits they can provide to their useres. Here are some of the benefits that can give to you:

  1. The first great part about using a student loan payoff calculator is that you can use it as a budget to what you will need each month to make your monthly payments, that way you can plan around that monthly payment to ensure that you will have enough each month to avoid delinquency of not paying.
  2. Another benefit that they can bring to those of you who are able to pay more than the minimum monthly payment is that you can play with different numbers, entering higher monthly payments into the payoff calculator to view how much faster it will take if you pay off your loan at a higher monthly rate.
  3. You can also use them at different times in your life, like if money is tight right now, you can always go back to it later when money is less tight and enter a larger monthly payment number.

These are some of the beneifts of using a student loan payoff calculator, but you should also know that this caluclator isn’t the only type that you can use that deals with student loans. You can also take advantage of the student loan consolidator calculator if you have multiple different loans which will show you if you will save money cosloidating, or combining all your loans into one and making just one payment. Also, if you happen to come to this student loan payoff calculator page while still being a student, you can use what is called the Student Budget Calculator which you can use to budeget all of your expenses when it comes to college life and giving you a total in what you will need to make each month to satisfy your expenses.

Student Loan Payoff Calculator Conclusion

Hopefully this information on the student loan payoff calculator as well as the other calculator resources have provided you with valuable information as well as what you were looking for when you came to this page, and if you want to use one of these calculators all you have to do is enter the specific one you want to use into a Google search and the first one that comes up is usually the best one to use.

Student Loan Forgiveness For Teachers Major Overview

August 27, 2011

Student Loan Forgiveness For Teachers

When it comes to the subject of student loan forgiveness for teachers, there are excellent benefits to doing these forgiveness programs. Being that the teacher trade is heavily needed, they offer many great incentives to being a teacher by offering your the chance to have a lot of your debt foriven. The next section will discuss the process in much more detail, like how you can obtain forgiveness as well as potentially how much you can get forgiven. so you can familiarize your self with what student loan forgiveness for teachers has to offer.

Student Loan Forgiveness For Teachers

Student Loan Forgiveness For Teachers – Overview

In the short scheme of things, student loan forgiveness for teachers is a program where a teachers are offered to have a large portion of their debt wiped away by teaching full time in the following settings

  • Low income areas, or at school which have students with families who are mostly low income
  • Special Education training and training of youth aged students who have disablilites
  • Feilds of expertise are also eligible for student loan forgiveness for teachers, which are decided upon by state of education agencies. Some of these feilds include foreign language, science and math among others

Also, most times that teachers do these forgiveness programs, their incomes are often times lower, so the student loan forgiveness for teachers programs will take this into account and will usually lower your monthly payments on your student loan, enabling you to still be able to participate in forgiveness, as well as still be able to afford your debt payments.

To give you an idea of how this can benefit you and on what scale we will take the Perkins Student Loan forgiveness for teachers program which is as follows:

  1. The first two years you teach allow you to get 15 percent of your debt forgiven
  2. The next will yeild a percentage of 20 percent that is wiped away
  3. 30 percent forgiveness would be give by the fifth year of your teaching career

All loan lenders have different student loan forgiveness programs for teachers that vary in how much you can get forgiven on your loan, but are often like this or for example some of them will have you work 10 years or the term of 120 payments, then at the end of this payment period, you will have the entirety of what is left on your loan forgiven, no matter how much is left. In order to qualify for a program like this, you would have to pay all of your payments on time.

Other Programs Where You Can Find Student Loan Forgiveness For Teachers

If you do not want to do student loan forgiveness for teachers programs through the options mentioned above, there are other ways in which you can get a lot of your debt eliminated, which are charitable jobs.

  • Peacecorps – Every year of service that you offer will equate to Peacecorps paying 15 percent of your student debt, which you can use all the way up to 70 percent
  • Ameri Corps – You will get 4,725 dollars for a year of volunteer work
  • Volunteers In Service Of America (VISTA) – You will receive 4,725 after you complete 1700 hours of community service.

These are some way that you can use when it comes to student loan forgiveness for teachers. The best thing to do now if you are interst in participating in a forgiveness program is to inquire about it through the lender of you loan or loans. Hopefully this student loan forgiveness for teachers information was exactly what you were looking for, and all the best on finding the best program.


South Carolina Student Loan Corporation – Overview & Their Loan Programs

August 27, 2011

South Carolina Student Loan Corporation

There are many aspiring students in the state of South Carolina that have the dream of attaining a degree at one of the many very accedited schools in the state, but the cost of it is often times overwhelming and downright discouraging, but don’t let these facts hinder you from going after and attaining your goal. The South Carolina Student Loan Corporation is there for all the South Carolina natives when it comes to getting the money they need to complete their college education. In the next section we will discect the South Carolina Student Loan Corporation in its entirety so you know the ins and outs of what they have to offer so you can make the descision if they are a good program to go with, or to try another.

South Carolina Student Loan Corporation

South Carolina Student Loan Corporation – Overview

The South Carolina Student Loan Corporation has the basic goal of providing you with funds needed when all of the other financial aid you have just isn’t enough. They were established in 1973 and are still the only non profit student loan lender in the state. South Carolina Student Loan Corporation offers many different benefits to its eligible applicants, to give you a feel for what benefits you will enjoy with them, here is a list:

  • You don’t have to pay a fee to apply
  • No federal default or origination fee
  • They also provide many ways of savings on your loan
  • Allowance saving benefits
  • Lenient repayment methods where you they will cater a payment plan that fits what you can meet financially

South Carolina Student Loan Corporation – Different Loans For Different Students

Here are all the different types of loan programs that you can take out, no matter what the level of schooling your are going to enter:

  • Stafford Loan Program – Loans with low interest that, the subsidized being a need based loan, and the unsusidized not based of needs and easier to qualify for
  • Parent Plus Loan Program – Enabling parents to take out loans for their students
  • Federal Graduate PLUS Student Loan – Dedicated for the graduate and professional degree seekers, that boasts a fixed interest rate and can borrow up to the cost of attendance.
  • Palmetto Assistance Loan – Interest fees as low as 1 percent, with the possiblility of having interest payments be tax deductable, discounts for signing up for automatic monthly deduction from your bank account.
  • South Carolina Teachers Loan – Offers many benefits that  cater to aspiring teachers
  • SC Program of Alternative Certification for Educators Program Loan also known as the PACE loan – Also there for aspiring teachers
  • Residency & Reloaction Loan – Are there for all of the 4th year medical students
  • Career Changers Loan – Also another option for teachers or those looking to switch to teaching as a profession
  • Law Practice Review and Exam Preperation Loan – Caters to Law students

South Carolina Student Loan Corporation – Other Services:

They also provide many of their clients with the chance to participate in student loan forgiveness programs where you will have to fufuill certain requirements to the likes of the South Carolina Student Loan Corporation.

If you obtain a loan from the South Carolina Student Loan Corporation, you can also choose to consolidate your loans with them as well as they offer this service. They are offered for people who have both federal and private loans and can provide an excellent way to save by providing lower monthly payments.

South Carolina Student Loan Corporation – Conclusion

Now that you know all the major details about the South Carolina Student Loan Corporation, you can see that they offer help in many facets of education help. At the end of the day South Carolina Student Loan Corporation is both accredited and has over 30 years of experience, making them an excellent lender to go with for your school loans.

Student Loan Default – Overview and How to Avoid It

August 26, 2011

Student Loan Default

Student Loan DefaultStudent loan default is basically when one doesn’t pay their payments one a student loan or loans during the time period of 270 – 360 days after they leave school. This can be due to the lack of resources, or any other reason, but once you fail to make payments, you enter into student loan default, or in other words your loan is declared defaulted. The bad thing about student loan default is that once it is defaulted deferment, which is an agreement between you and your loan lender of a postponement of payments, is no longer an option.

This is when your debt on the loan will be turned over to a collection agency after your delinquency period is over, which is the weeks or months of non payment time before it  goest to a collection agecny. The student loan default not only still requires that you pay the loan amount, but you will also be charged with a fee for the transfer of the debt from your loan lender to the collection agency, and any other fee like court fees or paying for an attorney in the event you are sued for the loan. There are other details as well where if you have a student loan default it can keep you from receiving other financial aid, and some social security benefits being taken away, a percentage of your earnings can be taken from you and any tax refunds can be taken from you as a way to pay off your debt.

Student Loan Default – How To Avoid It

It is just a fact that often times when fresh out of college, job don’t exactly fall into your lap, and can take a while securing a job. Due to this fact, it may seem like an option to put off payments, but your shouldn’t at all costs. Below are 3 ways on how to avoid student loan default, so you don’t have to deal with any of the above afflictions.

  1. Student loan default can be avoided often times by choosing to consolidate your student loans. Consolidatin can help you group all your loan payments into one payment as well as extend the time in which you have to pay it back, meaning that your monthly payment will be lower. Although this option means that because of the extnesion in repayment time, you will end up paying more in the long run, you can always pay more when you get your job and make up for lost time. So consoldiation can be a great way to help you avoid student loan default.
  2. Student loan default can also be avoided by deferrment as said above. If you haven’t defaulted on your student loan yet, then this is a viable option to consider. Basically what happens in student loan deferrment is that you get to postpone your payments for a certain amount of time by providing proof that you are going through financial hardship. The only drawback about this plan is that once you start up with payments again, you will have to pay a larger sum each month than the original monthly payment. But all in all, this is another great way to avoid student loan default.
  3. The last way to avoid student loan default is to know precisely how long your grace period is. By knowing this you will know how long you have before you have to start paying off you student loans, which during that time you can get a part time job, if you haven’t found a full time job yet, and save up for a few months worth of loans, so then you will have more time to do a more extensive search for a full time job.

Student Loan Default – Conclusion

The main thing to remember is to communicate with your loan lenders when trying to avoid student default. Their are more likely to help you out if you are letting them know what your situation is instead of not calling at all. Often times this method of avoiding student loan default can result in them lowering your repayment fee for monthly bills enabling you to be able to afford payments.

The Student Loan People – Major Overview & Their Loan Provided

August 26, 2011

The Student Loan People

With a name like The Student Loan People, you know they are going to provide some pretty epic options when it comes to student loans. If you are looking for more information on how The Student Loan People can help you, or you don’t know who they are and are looking for more information on this organization, below will be an indepth overview as well as all the details on the loans that they provide so you can get to know this company and decide whether they are the one you want to go with for getting money for school.

The Student Loan People

The Student Loan People – Overview

The Student Loan People is a Kentucky based program that was created under the loan lender called the Kentucky General Assembly as a way to provide students with student loans, and not just any student loans, but ones that are low cost loan programs, and with the goal of provding you with additional funds for college when your other sources aren’t cutting it. Among their other services are scholarships and grants as well. When it comes to loans that The Student Loan People offer, there are both ones for students as well as parents to apply for, and ecompass the same guidlines listed below for both studnent and parent applicants.

The Student Loan People currently have one universal loan that you can apply for  called the Kentucky Advantage Education Loan, which offer the student 3 different repayment options which are:

Immediate Full Payment

  • 2 percent fee (which is a way for them to make a profit)
  • an interest rate at a fixed 7.25 percent
  • 1/2 a percent off your your plans interest rate if you enroll in automatic monthly payments debit program

Interest Only Repayment

  • This Student Loan People option includes everything that the Immediate Repayment includes, but requires that you are enrolled at least at the half time level.

Postponed Repayment

  • A fixed interest rate at 7.75 percent
  • A fee of 3 percent
  • You must be a half-time student
  • 1/2 percent off your interest fee if you enroll in auto-debt

Benefits of The Student Loan People Loans

  1. As you may have noticed, each program has a fixed interest rate, meaning that they will never change.
  2. The fees that will find with their student loans are lower than almost any other you will find.
  3. You can take out up to between 1,000 to 75,000 with The Student Loan People Loans.
  4. The repayment program length is 10 years on any loan above the totoal of 10,000.
  5. There are no repayment penalties with this loan option.
  6. The Student Loan People offer many different defferment options to their clients, those being; Economic hardship, public service, unemployment, disability, Summer Bridge, Parent PLUS Borrower, working other and maternity, duty in the armed forces, education related, and while in school.

The Student Loan People – What You Need To Qualify

In order to qualify for the Kentucky Advantage Education Loan, The Student Loan People require that you fit these specifications:

  • Be either a Kentucky resident, the school you are applying to doesn’t matter with Kentucky residents, or be a non-Kentucky resident who is looking to go to a school that is Kentucky Based.
  • Either be a citizen of the USA or show a proof of residency card.
  • You must have a credit score that is considered acceptable, or provide a cosigner that has an acceptable credit score.
  • You must be at least 18 years of age.

Now that you know all about the Student Loan People and what they do, you can either choose to use them or not. Based on the information above, it is evident that they provide excellent benefits to their eligible applicants and can heavily assist you when it comes to having enough money for college. If you choose to go with The Student Loan People, you can vist their website at

Student Loan Forgiveness Programs – Many Programs to Use

August 26, 2011

Student Loan Forgiveness Programs

There are many student loan forgiveness programs out there that can provide you the opportunity to have a large chunk of your debt wiped away by being a participant in these programs. These programs can be a lifesaver when it comes to trying to get out of debt as fast as possible as well as give you experience in the feild you studied to go into. Below are multiple student loan forgiveness programs that you can use within the near future that will enable you to have a large portion of your debt forgiven.

Student Loan Forgiveness Programs

Student Loan Forgiveness Programs – Different Types

There first student loan forgiveness programs you can use are ones that inolved the act of volunteer work or community service. Here are the main programs that people are currently using:

  1. Peace Corps – This is a widely used progam that you can use no matter where you are in the US. With this program you will receive 15 percent of your loan forigven after 1 year of service, and can work up to 5 years which will result in you getting 70 percent of your loans wiped out.
  2. Americorps – The Americorps student loan forgiveness programs provide you with another resource to get some of yoru debt taken away. This specific program gives you what is called a stipend of up to 7,400 dollars, and 4,725 dollars that you can use towards paying off your loan. In order to be eligible for this money, you must provide service for 12 months.
  3. VISA or Volunteer In Service To America – This is the next volunteer service option that you can use when looking for student loan forgiveness programs

Student loan forgiveness programs are by no means limited to volunteer work, as you can find them in many other places. Here is a list of more examples that you can use depending on the feild you are looking to enter into.

  • Teachers – If you are a teacher or looking to go into the teaching profession, there are student loan forgiveness programs where you can teach in an area that really needs quality teaching the most, like in low income areas or kids with disablilities. With this option there are usually two types of programs you will find, ones that knock off a percentage of you loan each year or one that will ask you to pay loan payments on time for a certain amount of time, then after that time they will wipe clean whatever you have left of your loan. The best thing to do if you choose this student loan forgiveness programs option is to contact your schools district administration where they will tell you what schools offer these types of programs in your area/
  • Medical – There are aslo student loan forgiveness programs in the both the medical  where you can also get a good chunk of your debt wiped away. For the Medical feild, it is like the teaching option where you will be required to teach the medical profession in a place that is in dire need of it. This option can also include medical research and working with pets where vets are much needed. These programs can offer up to 30,000 off your debt each year you work with them. The best organization to contact for this would be The American Association of Medical Colleges which has an up to date list of all the student loan forgiveness programs in the medical feild.
  • Military – If you are looking to go into the military after you college schooling is finished, they offer student loan forgiveness programs as well. The best resouce when checking out what kind of student loan forgiveness programs that they offer is to contact the Military and Veteranas Association who will have an database of what they offer as far as these programs go. This option can provide you with an actual complete forgiveness which means that they delete your entire amount of debt, totally wiped clean.  This is a great way to serve your country as well as get a lot of your student debt forgiven.
  • Law – Studnet loan forgiveness programs in the law feild are where you work in public interest areas, or non profit jobs. With this feild, there are 4 diffent types of student loan forgiveness programs, those being on a federal level, a state level, a private level, and through different law schools. The repayment option for this method is that you work 10 years in a public service sector job paying on time monthly payments, and after these 10 years you will then have whatever is left on your total debt eiliminated.

If your feild happened to be not mentioned here, as these are the main feilds that student loan forgiveness programs are offered through, then the best thing to do is inquire about what student loan forgiveness programs are available for you through your loan lenders who will either have the information you need, or refer you to an organization who can help you.

Student Loan Forgiveness Programs – Conclusion

Now that you are more familiar with what there is out there in the form of student loan forgiveness programs, you can now utilize one ore even multiple of these methods. You may also be able to tell that you will be rewarded with financial help towards your loan by making a difference in peoples lives which is a pretty awesome trade off when you think about it. Depending on what you are looking for in a forgiveness program, you now know that you have multiple choices and can choose one that you feel most comfortable with. Hopefully this student loan forigveness programs information was exactly what you needed, and great luck on whichever one you choose.

Student Loan Consolidation Companies – 4 Of The Best To Use

August 26, 2011

Student Loan Consolidation Companies

There are many great student loan consolidation companies that you can you when choosing to consolidate your loans. Grouping your payments into one lump payment, which is what consoliation is, can provide you many benefits when it comes to paying off your loan, like a lower monthly payment, a chance for a lower interest rate if by chance your credit has improved since the last time you applied for the loans you have now, as well as just in general. Below will be 4 excellent programs to use when looking for student loan consolidation companies as wel as the details and benefits that come with them.

Student Loan Consolidation – 4 Great Programs

Although this list isn’t limited to all the student loan consolidation companies that are out there, they have proved to stand out in the crowd because of their excellent benefits and overall experience. Here are 4 great student loan consolidation companies that you can use.

  1. Next Student – This program boasts the benefit of providing their clients with the chance to reduce their  monthly payments by 50 percent of the original total, and offers consolidation services on both fedeal and private loans. When it comes to federal loan consolidation, a credit check isn’t required so it doesn’t factor into whether you are accepted or not, and when it comes to application and orgination fees, there are none to speak of, as well as no repayment penalities. As for the private loans consolidation this student loan consolidation companies program requires that either you or a cosigner passes a credit check. The interest and other fees have been shown to vary, but are are very competitive. Another great part about this student laon consolidation comapnies option is that during your conslutation, you will be provided with a financial consultant that will assist you during the entire process.
  2. Loan Approval Direct – This is the next option when it comes to using great student loan consolidation companies. This program offers its eligible applicants benefits like providing you with up to 60 percent less on monthly payments, an interest rete as low as 3 percent, which is incredibly low, allows you to consolidate loans sums that total up to 125,000 dollars as well as doesn’t require a credit check.
  3. Student Lending Works – Out of all the student loan consolidation companies listed on this page, this is the only one that is a non profit organization. Because of this fact, you will find the lowest interest rates around as they aren’t charging you interest just to make money off you. This program offers many advantages that include, rewards which equate to discounts on your interst rates like for example, making your payments on time, and as said above, very low interest rates.

Student Loan Consolidation Companies – Conclusion

Although these student loan consolidation companies as well as consolidation in general can provide many benefits to it’s users, it can also have adverse effects that can even cost you more in the long run. The best thing you can do now before committing to a consolidation company is to shop around and remember when shopping around to compare the following aspects; the terms of the loan, interest fees as well as what the repayment fees are. By doing this you can pick out the best option for you when it comes to student loan consolidation companies, if they provide you with value and a benefit for consolidating, or if not then you will know to not use them at all.