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National Student Loan Database

September 2, 2011

National Student Loan Database

The National Student Loan Database is provides information on obtaining both federal loans which range from the Stafford subsidized and ubsubsidized options, the Perkins Loan and PLUS loans among others, as well as just being general spot where the US Department of Education provides the most up to date information on the latest financial aid options. They get this up to date information by staying in contact with various organizations like colleges, education programs, agencies, and loan lenders all across the country.

Through this database you can also get access to the status of your loans as well as information on what your balance is on the loans that you have aquired, those being your federal loans as the National Student Loan Database has nothing to do with private loans.

national student loan database

How Does One Access the National Student Loan Database?

If you are looking to use the National Student Loan Datbase for one of the above options, you will need to enter in some information about yourself among other speficiations which will give you a Personal Identification Number (PIN) in which you can use to grant you access to your account. This is what you need to enter to gain access to using the National Student Loan Database:

  1. The first two letters of your last name.
  2. You Social Security Number.
  3. Your Date Of Birth.

Once you fulfill the above, you will be granted access to the pending loan information, outstanding balances as well as infromation on the lender of your loans as well as the school that is associated with each loan as well as the “small print” of your loan information, enabling your to fully familiarize yourself with all the encompassing loan information. By becoming a member of the site, you will be able to monitor your loan information all the way from the beginning of obtaining your loan all the way to the closure of it. If you take out another loan, it usually takes about 30 days for it to show up on the National Student Loan Database website.

If any of this infromation is wrong, or needs to be changed for whatever reason, you can contact the the National Student Loan Database where you will talk to one of the representatives. They will correct what needs to be changed and the changes will show up within 30 days or less.

Other National Student Loan Database Information

Now that you know the main purpose of the National Student Loan Database, there are also ther minor benefits that you can enjoy by being a member. Here are some of the other benefits provided:

  1. Teaching on the loan suject of Exit Counseling where you are advised on the requirements you must meet.
  2. You cna also download an incription code on the National Student Loan Database website in which increase the security of all of your data when it comes to your student loan information as well as keep all of your private and log in information secure from anyone being granted access but you.

 

 

Student Loan Consolidation Rule

September 2, 2011

Student Loan Consolidation Rule

The main student loan consolidation rule is that you must be fully completed with your schooling in order to conslidate your student loans, which if you are unfamiliar with what student loan conslolidation is, it is the act of grouping all of your loans together so you only have to pay one payment each month. Consolidating loans when school is finished also means that you do not intend on going back to school after your start the consolidation process.

By adhering to this student loan consolidation rule, you will be able to enjoy the benfits of lower monthly payments, lower interest rates and best of all, you only have to pay one lender instead of multiple lenders. They are able to do this by extending your repayment period, which if you choose to pay larger payments down the line you can do so.Above is the student loan consolidation rules, but there are other rules and regulations that one may abide by as well. Below are the rules that one must fit in order to enjoy consolidation.

Sutudent Loan Consolidation Rule – Rules & Regulations

  1. The first student loan consolidation rule is that you cannot consolidate federal loans with private loans. This is not a big deal as most consolidation companies offer services that involve both federal and private loan consolidation.
  2. Consolidation is a free process in which can help you immensely, so never pay for any consolidation service as this is no doubt a scam.
  3. There are no restrictions when it comes to student loan consolidation. You may choose to go with any lender you find, but it is highly advised that you apply for many consolidation companies as you can pick and choose which one provides the best benefits to you.
  4. The next student loan consolidation rule is that you can choose whichever loans you want to consolidate. You do not have to consolidate all your loans.
  5. You can even consolidate one loan and still enjoy the benefits of student loan consolidation.
  6. You can only consolidate after your graduation or if you drop out and the best time to do this conslidation is during the 6 month grace period the most all lender offer to their borrowers.
  7. The last student loan consolidation rule is that you can get your monthly payments decreased by up to 60 percent by doing student loan consolidation which can be an excellent benefit when you just get out of college.

Student Loan Consolidation Rule Conclusion

This is the main overview of the student loan consolidation rule as well as different rules and regulations. Student loan consolidation can help you save on your montly payments and interest as well as offer the convenience of just having one organization to deal with for payments and account information. Although the goal of consolidation is to make your payments lower so you have a longer payment term which equates to you paying them more interest, a student loan consolidation rule is that there is no repayment penalities meaning you can increase your payment in the future and still enjoy the benefits on consolidating your student loans.

Dept Of Education Student Loans – Loans Offered

September 2, 2011

Dept Of Education Student Loans

The Dept of Education student loans are offered to students as a way to make the insanely pricey option of college a lot more affordable. The Department Of Education has three different categories that one can choose from when it comes to student loans which are: Direct Loans, Stafford Loans as well as PLUS Loans which consist of both loans that parents can take out their children as well as their Graduate PLUS loans that are at the graduate and professional level. Dept Of Education student loans can be applied by anyone at no cost through the FAFSA application form which stands for Free Aplication for Federal Student Aid.

Dept Of Education Student Loans

 

Dept Of Education Student Loans – Loans Overview

DIRECT LOANS

  1. Subsidized – These Dept of Education student loans are rewarded to the most financially needy. To qualify for this option you must prove different specifications such as low income or unemployed etc. This one is interest free while in school as well as during its 6 month grace period. Interest rates are often as low as 3 percent which is a fixed interest rate meaning that it will never change.
  2. Unsubsidized – These loans are the opposite of subsidized as they are offered to anyone regardless of their financial need. This one is much easier to qualify for but makes one pay interest while in school, but not during the 6 month repayment period. Interest payments are usually a bit higher with unsubsidized Dept of Education student loans but are fixed like subsidized.
  3. Direct PLUS Loans - Like it was said before, these Dept of Education student loans are for parents who are taking out loans for their dependable child, as well as for those who are going into grad school or professional students as the borrowing limits are much higher. These loans both have low fixed interest rates and provide benefits like deferrment options, you don’t have to have a cosigner to qualify and you monthly payments are considered tax deductable.
  4. Direct Consolidation – This last option allows you to combine all of your federal student loans into one lump payment instead of paying on multiple different payments each month. By doing this you can get a lower montly payment as well as lower interest payments.

STAFFORD

  1. Stafford loans are offered to both undergraduate and graduate students and is the most used loan program around for federal loans. These as well come with low interest payments and can be used for anything related to school like tuition, books, transportation and more. These Dept Of Education student loans offer a fixed interest rate as low as 3.4 percent, and up to 20,5000 dollars per year in borrowing funds depending on where you are at in you schooling.

Dept Of Education Student Loans – What Should You Do Now?

This is what there is to offer as far as the Dept Of Education student loans go, but it is highly suggested that you exaust your free financial aid resources first, like scholarships and grants which can be inquired about through the college you are going to attend as well as on the internet. After you have exausted your resources when it comes to free financial aid, then it is suggested that you start looking into the Dept of Education student loans and private loans.

 

 

Student Loans Consolidation – 5 Comanies & Pros and Cons

September 1, 2011

Student Loans Consolidation

Student Loans Consolidation

If you have been contemplating student loans consolidation, there are many companies out there that are offering consolidation services that you can use. If you are unfamiliar with what student loans consolidation is, it is grouping all of the loans you have into one single monthly payment, which is accomplished by you consolidation company essentially purchasing your loans from your lenders so now you just pay the consolidator, although one student loan can be consolidated as well and still enjoy the benefits that come with consolidation.

These programs offer a lower monthly payment as well as a fixed interest rate by repayment period of your loan. Below will be 5 different resources you can use tha offer student loans consolidation as well as information on each as well as the pros and cons that come with consolidating student loans.

5 Student Loans Conslidation Companies

  1. Next Student - This company offers private student loans consolidation as well as federal loans. With this option you can receive a payment term of over 30 years, they have low introductory rates, no repayment penalties as well a there is not collateral required for service.
  2. ScholarPoint.com – WIth this student loans consolidation company, they offer no fees for their service, a mximum rate of interest being at 8.25 which is often way lower, fixed interest rates as well as if you choose to pay more, you will not be penalized. They also offer 4 different repayment plans that offer different scales of pay that suit your income best. They as well offer private and federal student loan consolidation services.
  3. US Department Of Education – This option focuses on just federal loan consolidation, and offers up to 30 years to repay your student debt.
  4. Loan Approval Direct – Student loans consolidation through Loan Approval Direct offer many benefits like consolidation of up to 125,000 dollars of debt, interest rates at as low as 3 percent, and collateral is not a requirement.
  5. Debt Consolidation.com – This is another great resource for student loans consolidation and their online application process is very simple. With this option you will know how much you will save within minutes after applying.

As you may be able to tell, the abvoe student loans consolidation companies are both federal and private. This was done this way because you must choose a federal consolidation company for all your federal loans and the same with private loans, they must be with a private student loans consolidation company, although most companies offer the services of both.

The best thing to do if you are considering student loans consoidation is to submit application for multiple companies as you can compare their rates and service and choose the best one.

Student Loans Consolidation Overall Overview

Student loan consoidation offers advantages and disadvantages. Just so you know what to expect, here are some of the pros and cons.

PROS

  1. Lower interest rates that are fixed and they will never change. This is great as interest rates are at an all time which means even when they go up, you will still have the low interest rate.
  2. Student loans consolidation offers one payment instead of mutliple payments as well as one phone number to call for questions.
  3. You can consolidate loans with your spouse giving you both just one lump payment.

CONS

  1. Longer payment terms mean you will pay more in intererst. Although you can still consolidate and enjoy the benefits and still pay your student loan debt off faster with a higher payment.
  2. Requirement is sometime tough, as you must have a certain amount of debt as well as loans you must have came from a certain group of lenders.
  3. It is overall all an okay way of saving, there are better ways like student loan forgiveness that can offer low payments as well as get a lot of you debt wiped away.
  4. Other benefits you had with your other lenders do not carry over with the studnent loans consolidation company.

 

 

 

 

 

AES Student Loan – Loans & Services Offered

September 1, 2011

AES Student Loan

AES Student Loan

If you are not familiar with AES Student Loan, they are a loan servicing company also known as American Education Services, and have been providing student loans since 1964. They are a division of the Pennsylvania Higher Education Asissantance Agency and are one of the largest lenders in the country. AES Student Loan offers studnelt loans, different repayment plans that suite your financial situaion best and other services. First off we will start with a background on their loans offered, which there are 4 different options you can choose from:

  1. Stafford Loans - Loan eligibiliy is not based off your credit score and doesn’t require a cosigner. This option provides subsidized and ubsubsidized student loans and they both offer a 6 month grace period where you do not have to pay loan payments for 6 months after you graduate. These loans have low fixed interest rates and usually require you to pay them back in 10 years, although you can extend the payment period if need be.
  2. Parent PLUS Loans – These loans make it easy for parents of dependable children to take out a loan so that you child can afford college. This option isn’t credit based nor is it income based so it makes acceptance a lot easier. This AES Student Loan option provides parents with flexible repayment guidlines as well as they are not penalized if they choose to pay the loans off early.
  3. Graduate PLUS Loans – These loans are dedicated to all the graduate and professional students who are looking to find loans through AES Student Loan. This option allows you to get tax refunds on your payments as well as lenient repyament guidelines.
  4. Private Loans – AES Student Loan also come in the form of private loans that are there in the event the federal loan options above do not provide you with enough money to afford your tuition. Often times private loans, as you may know, have higher interest rates as well as more times than not are credit based, but they also usually offer larger borrowing terms. AES Student Loan is affiliated with many private student loan lenders that can help you out with financial aid.

AES Student Loan Repayment Terms

AES Student Loan offers 5 different repayment terms for their students, here are the 5 options:

  1. LEVEL – This plan keeps payments the same throughout the entire repayment period.
  2. GRADUATED – Allows one to start paying smaller payments and first and have them gradually increase over time.
  3. INCOME SENSITIVE – This AES Student Loan repayment option is based on your monthly income sum as well as how much student debt you have.
  4. INCOME BASED – With this method, you payment is  calculated at 15 percent of you monthly income. The normal repayment term is 10 years and offers loan forgiveness under certain circumstances.
  5. 25 Year Extended – This AES Student Loan repayment method will extend you loan repyament plan to 25 years for those who have large student loan debt which have to be over 30,000.

Other AES Student Loan Services

  • Student loan consolidation.
  • Online account managment is availble for all borrowers to check payment history, manage their loan details and more.
  • Help when it comes to difficulty in making payments.
  • Up to date information on everything related to school loans.

AES Student Loan – Misc Information

Being that they are based out of Pennsylvania, AES Student Loan offer Pennsylvania residents as well as students who are coming from out of state to attend a school in Pennsylvania the KeystoneBEST Loan Program. This program consists of lower costs for student loans for these Pennslyvania students because the PHEAA pays the one percent federal default fee when it comes to lenders who participate in the KeystoneBEST Loan Program, which this benefit is applicable for students who take out any of the AES Student Loan federal loans above, Stafford, Parent PLUS and Graduate PLUS.

 

 

How To Pay Student Loans Off – 6 Methods

September 1, 2011

Pay Student Loans

If you have just finished college and are looking for some insanely fast ways to get your debt cleared, we have just what you need, in the form of 6 different pay student loans off methods that you can use to eliminate your debt way faster than the normal rate so you can be debt free and not have to worry about student loans every again. By using thes pay student loans off methods, you will be able to bank all of the money you make, or spend it on the good stuff instead of forking it over to lenders for years and years.

Pay Student Loans

Pay Student Loans Off With These 6 Methods

  1. Start Saving For Retirement – This may sound weird and totally irrelevant but it is far from it. When one saves for retirement, the funds you put away are considered to be a tax write off. Meaning the more you put away, the better tax refunds you will get. If you do choose so, you can pay student loans off with the retirement funds that you saved as well. This can be a very powerful method that you can apply each year, giving you large sums of money to drop on your loan debt.
  2. Ask Your Employer – This may seem like a terrible idea at first, but it has worked countless times. Basically with this method of paying student loans off, you can ask your employer if they can either help you pay off your student loan or pay it  off completely, either by agreeing to stay with the company for a certain amount of time, as well as substituting some of your pay raises for a while to go towards your loans. Companies like this as they would rather keep a good employee instead of hiring a new one which is expensive. You can also try and negotiate your job offer, even a couple of thousand dollars extra per year. By explaining your motives of the boost to your potential employer, they will often time lend a help hand in the form of higher annual pay.
  3. Keep Livign Like A Student – You can pay student loans off a lot faster if you keep living like you did when you were as student. This includes continuing to bargain shop, avoid the shiny object symdrome, and flat out be cheap for a while. The money you save with this method can go towards paying off your loan. Althouh don’t forget to splurge sometimes because going cold turkey is never easy.
  4. Student Loan Repayment Programs – This option to pay student loans off consists of either working community service jobs through organizations like Americorps, VISTA and Peace Corps where each year they either pay off a percentage of your entire student loan, usually around 15 percent, or give your a large lump payment at the end of the year of service, in the thousands, which can be used for your debt. Other student loan repayment programs are found in public service jobs as well as jobs in areas of low income, where you can get most of all of your debt forgiven. To find out how you can pay student loans off with forgiveness, contact your lender who will have the most up to date information.
  5. Pick The Shortest Repayment Period – Picking the shortest repayment period will allow you to pay student loans off much quicker. Although the payment will be higher than longer repayment periods, you will both save money on interest as well as monthly payments and be out of debt years before a longer repayment program.
  6. Get A Roomate – By getting a roomate, or renting a room from somebody, this can result in your saving hundreds or even thousands a month. You can pay student loans debt off with this method alone years ahead of planned.

Pay Student Loans Conclusion

Now that you know some of the great and fastest ways to pay student loans off fast, you can now take advnatage of one or all of them which will ebable you to pay student loans debt off faster than you may have ever thought. Millions of indviduals of used these methods to pay student loans debt off quickly and you can do so as well, giving you the peace of mind that a debt free life brings.

 

 

Direct Loans Student Loans – Major Overview & Loans Offered

September 1, 2011

Direct Loans Student Loans

Direct loans student loans are offered through the William D. Ford Direct Student Loan Program with the lender of these loans being the Department of Education. Direct loans student loans are 100 percent federal loans and are offere to students as well as parents of dependable students, in the form or low interest loans as well as many other benefits that can make your college education a lot more affordable. There are different options that one can choose from that can help you attain your degree all of them are discussed in full detail below as well as the repayment options that are available to you when you start paying off your loan.

Direct Loans Student Loans

Direct Loans Student Loans Offered

There are two different types of direct loans student loans offered through the Ferderal Direct Student Loan Program (FDSLP), those are subsidized and unsubsidized Stafford student loans. Each type is discussed below:

SUBSIDIZED

Stafford direct loans student loans that are subsidized are given based totally off the financial need of the student, meaning those who need them most tend to get them most. These loans provide benefits to the student like:

  •  You do not have to pay any interest payments while in school as the government pays them for you, and you don’t have to pay them back if you are in full time enrollment.
  • 6 month grace periods where you do not have to pay your student loans for 6 months prior to your graduation.
  • You can defer these direct loans student loans as well which means that, which is an agreed postponement of your monthly loan payments.
  • These loans are offered at sums start at 2,625 for your first year, 3,500 for your second year, 5,000 dollars per year after you the completion of your first two years, and lastly 8,500 dollars a year for graduate students.

UNSUBSIDIZED

The ubsubsidized direct loans student loans option is not needs based meaning that it is much easier to qualify for, but it charges you with interest payments from day one, which can either be taken care of while in school, or paying them offer later when school is over. Here is the major information on unsubsidized direct loans student loans:

  • Interest rates start as low as 3.10 percent.
  • 6 month grace period is offered where you will not be charged interest as well.
  • There activation fee for the loan is 4 percent.
  • Borrowing sum totals are up to 4000 dollars for both first and second years of schooling, 5000 dollars per year after you complete your second year of enrollment which can be attained all the way up to graduate school, for graduate and professional students you can borrow up to 10,000 dollars per school year.

Direct Loans Student Loans Repayment Options

Direct loans student loans have 4 different repayment options which you can choose from, whichever one best suits what you can afford as well as how fast you want to pay it back. Here are the direct loans student loans repayment options:

  1. Standard Repayment – This option provides you with up to a 10 year repayment term.
  2. Extended Repayemnt – This direct loans student loans repayment method allows anywhere from 12 to 30 years of time for you to repay you student loans.
  3. Graduated Repayment – This option also provides a 12 to 30 year repayment plan and with this method your monthly payments increase every two years.
  4. Income Contigent Repayment – This last direct loans student loans repayment method is based on a percentage of your monthly income, usually having your monthly payments being set at 15 percent of you montly income.

Direct Loans Student Loans Deferment Options

If you want to defer your direct loans student loans, you need to prove one of the following categories:

  1. Economic Hardship
  2. Forbearance
  3. Default
  4. Disablility
  5. Unemployed

This is a main over view about direct loans student loans which can assist you in making your education more affordable and have provided millions of individuals with money to go back to school and further their education.

 

 

 

 

Federal Student Loans Payment Options

August 31, 2011

Federal Student Loans Payment

There are many federal student loans payment methods that you can use that you can use that work best to your specific situation. Being that we are talking about federal student loans payment, good chances are that you just graduated, if this is the case, a big congrats! There are basic methods as well as newly established methods in which it can make it easier for you to make payments and avoid default. The 6 different ways are discussed below.

Federal Student Loans

 

Federal Student Loans Payment - 6 Different Options

  1. Standard Federal Student Loans Payment – This option allows one to pay over the course of what is usually 10 years, and payments can start as low as 50 dollars. This plan usually has payments stay the same over the course of the repayment period until the loan is fully paid off.
  2. Extended Federal Student Loans Payment – This method allows a student who may be low on cash to extend their repayment period from the basic standard 10 year program to anywhere from 12 to 30 years. Being that many do this because of a shortage of money, monthly payments have been as low as 5 dollars.
  3. Graduated Federal Student Loans Payment – Option three allows one to gradually increase their payments, usually every 2 years, where it starts out low and works its way up higher and higher each two years. This is a great option for those who either don’t have a job or have a low paying job right out of college, but as the years go by will advance in their job and get better pay.
  4. Income Based Federal Student Loans Payment – This method of repayment is a lot of what is sounds like, being that your payment are based off what you earn, which is usually 15 percent of your income. Like the extended payment plan, payments can be as low as 5 dollars a month, and are adjusted whenever you wither make more money or less money.
  5. Income Sensitive Federal Student Loans Payment – This option is only availble for direct student loans. This plan is very similiar to the income based option and is based of of 4 to 25 percent of your income and your monthly payment must be at least equal to your interest payment. This plan is available to direct student loan holder for up to 5 years and must be applied for each year. Being that payments are usually lower than normal, yoru repayment period will be extended with this option, around 12 to 30 years.
  6. Income Contigent Federal Student Loans Payment – This last option is only for FEEL loans and has a maximum repayment period of 25 years. This federal student loans repayment option is for those who have low income jobs or are participating in forgiveness programs which usually have low income. The monthly payment is factored either by up to 20 percent of your income or the amount in which it would take you to pay off your loan in 12 years.
  7. Student Loan Forgiveness – This federal student loans payment option is an excellent way to get your debt wiped out by a big percentage or completely. This option is available in public service jobs for many different careers as well as in community serivce like Americorps, VISTA or Peace Corps. These programs either pay a percentage or your loan off each year of service which is about 15 percent and is usually found in community serice, or they pay the rest of your loan off after 10 years of working in a public service job.

Conclusion to Federal Student Loans Payment

Now that you know the different options as far as federal student loans payment options go, you can now figure out which one will work best for you. Although you may start out by paying low, you can always change it in the future when you start earning money, which in the beginning will take off a lot of stress, and as you earn more money you will be able to pay it off faster. Hopefully this federal student loans payment information was exactly what you needed and great luck on getting the best one for you.

 

South Carolina Student Loan – Loans Offered & Other Services

August 31, 2011

South Carolina Student Loan

There are many South Carolina Student Loan options that one can choose from, all of which has assisted many individuals financially that helped them have enough money to be able to afford to complete their education. If you are not familiar with the South Carolina Student Loan, they are offered by an organization called South Carolina Student Loan Corporation who is the only non profit loan lender in the state of SC, and being a non profit organization, you know they are there to help instead of just make a profit off you. There are many South Carolina Student Loan options, both federal and private, that you can choose from which are discussed below.

South Carolina Student Loan

South Carolina Student Loan Options

Since 1973 their mission has been to “to assist people like you in achieving the dream of a college education”. Being that they provide both federal and private loans, they can be your one stop shop if federal loans don’t offer you enough money, or vis versa with private loans. Here are the loan options they offer:

  1. Federal PLUS Loans – Includes both Graduate PLUS and Parent PLUS
  2. Stafford Loans – This South Carolina Student Loan choice offers both subsidized and unsubsidized loans)
  3. Palmetto Assistance Loan
  4. SC Career Changers Loan
  5. Residency and Relocation Loan
  6. Law Practice Review & Examination Preperation Loan (PREP)
  7. South Carolina Teachers Loan
  8. Alternatvie Certification of Educators Program Loan (PACE)
  9. Private Loans – These are offered with multiple different lenders

As you can tell South Carolina Student Loan options range from all different needs as can assist pretty much anyone looking for a student loan. The best part about taking out a South Carolina Student Loan is that; there is no application fee, no fee for the activation of the loan (no origination fee), flexible repayment plans as well as they give you the chance to save money through many of their money saving benefits, like if you decide to have your loan payments atuomatically deducted from your account, this will save you .25 percent off your interest each month.

South Carolina Student Loan – Other Services

Now that you are more familiar with what South Carolina Student Loan Corporation has to offer in the form of all their loans and the benefits that they offer, they also offer more services on top of these great loans and benefits. Here are their other services:

  1. Scholarships & Grant information and where you can get it through corporations in South Carolina.
  2. Student Loan Consolidation – If you take out a multiple South Carolina Student Loans, you won’t have to look for a consolidator as they can consolidate your loans for you, making them a resource for both loans and consolidation.
  3. 24/7 online access to your account.
  4. Both college and career planning assistance that can be just the student alone or with their parents as well.
  5. Teacher loan forgiveness on federal Stafford Loans.
  6. Entrance & Exit Loan counseling which educations you on your responsibilities and rights when it comes to your South Carolina Student Loan or loans.

If you like the benefits above and want South Carolina Student Loan Corporation to assist you in getting funding for college, you can visit their site at http://www.scstudentloan.org for more information.

Pay Student Loan Debt Fast – 7 Ways To Do So

August 31, 2011

Pay Student Loan

If you are searching for the pay student loan subject, good chances are that you have just graduated college, which a big congrats is in order! But even better chances are that you want to pay you student loans off fast and not be stuck with them forever, which we don’t blame you at all. To assist you in your persuit to crush these evil things into nothing, we have comprised as list of 7 different methods you can use to pay student loan debt off quicker than the average person, and can be utilized as soon as you choose to.

Pay Student Loan

Pay Student Loan – 7 Methods To Use

  1. The first one which you probably heard about when it comes to the pay student loan debt faster is student loan forgiveness program. You can use the Federal Student Loan Repayement Program for federal student loans and pays student loan debt which pays off up to 10,000 dollars a year on your loans for up to 60,000 dollars. You can provide community service with organizations like the Americorps, Peace Corps and VISTA. These programs will either pay a percentage of your student loan off each year you work for them, which is usually around 15 percent, or provide you with a lump payment at the end of a years service which is in the thousands, around 5000 to 8000 that you can use to pay off you student loan or loans.
  2. This next one is one of the best kept secrets and that is to ask your employer to help you pay off your student loans. This pay student loan debt option can be done by agreeing to provide your best services and that you will stay with the company for a certain amount of years. They do this because it is very expensive to hire new workers and if they know you will stay there by paying your student loan, they consider this a success.
  3. Being that you have just finished college, you are used to living like a student. A great resource to use when setting out to pay student loan fees off is to keep living like a student. Be cheap, avoid the shiny objects, and bargain shop. By doing this you will save money and can use this money to make larger monthly payments which will equate to shorter loan terms and you paying a lot less in interest.
  4. Another way to pay student loan sums off quicker is to pick the shortest repayment program that you lender offers. They advertise longer repayment periods because they know you will pay a lot more in interest. Although the monthly payments will be higher than a longer payment term, it will allow you to get out of debt in a year total that is years or decades shorter.
  5. Negotiating your first job offer is another way you can pay student loan sums off. If you can either hold out for a higher paying job, or convince the hirer that you are worth more money than they are offering, this can mean a couple thousand dollars extra a year which can go right to paying your student loans off.
  6. Starting to save for retirement can bring you a quicker debt free exsitance. When one saves for retirement, the funds are seen as tax deductable. As soon as you get this deduction payment, you can drop it on your loans as well as take the retirement funds out and use it to pay off student loan debt. Killing one bird, you student debt, with two stones. This pay student loan method should be utilized by everyone.
  7. Making a monthly and even yearly budget for that matter can show you where you are spending your money. By having this overview you will be able to see where you are spending money on things you don’t need, eliminate that spending and take the money you saved and use it to pay off student loan debt.

Pay Student Loan – Conlclusion

By utilizing these pay student loan methods, you can knock out your student loans in no time instead of have them follow you around forever. These methods have helped millions of people with loans of high 5 and 6 figures get their student loans paid off in half the time or a lot less than they would have ever though they could. Hopefully these pay student loan debt fast methods were exactly what you were looking for as well as needed to attain your goal of paying off student loans for good.