Student Loan Consolidation Explained with Play-Doh
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Consolidate Student Loan Video
Friday, January 18, 2008Posted by speedoguy 56 comments
Student Loan Consolidation – Thinking About Your Financial Future Today
Posted by speedoguy 5 commentsBy Dean Shainin
Student loans influence your future financial decisions and your credit. When student loan debt has exceeded eight percent of your income, it can be seen as bad credit when assessed for further loans such as home loans. This may not seem very important right now, but student loan consolidation can have a positive impact on your financial future.
Two Approaches In Reducing Your Student Loan Debt
1. You could eliminate or reduce the primary balance.
2. You could reduce the monthly total payment. Given that debts are measured by comparing your income to the loan payment, if your payment is reduced, it can help you in improving your credit.
With student loan consolidation, you can merge all of your loans into a single loan with one payment per month.
When interest rates of loans fall, your education loans could be consolidated or refinanced.
There are many kinds of student loan consolidation plans offered today. When students do not consolidate their student loan debt, this will result in the inability to acquire future mortgages, car loans, credit cards, and other kinds of credit in many cases.
5 Benefits Of Consolidating Your Student Loans
1. Easy to maintain, single payments per month.
2. Enables you to have manageable repayments of your student loan after you have graduated, especially if you had huge student loans.
3. Student loan consolidation is also beneficial to those students who have graduated; but find that they're still having difficulties managing the payments of all of the student loans they acquired to cover their college fees.
4. A more organized and cost effective plan, with lower interest rates will help you save some money.
5. A long term plan to paying your loan, giving you a longer time frame to pay for your loan. A longer payment plan also means a lower monthly payment, which gives you more flexibility
It is very simple to apply for a student loan consolidation. While your application for student loan consolidation is being processed, it’s important that you continue to pay for the existing student loans.
The lending institution would pay all the existing loans if you qualify. You would then make the payments for your consolidated student loans.
If you are looking for an efficient and cost effective way of managing your student loans, then student loan consolidation may be the right option.
By getting a student consolidated loan today, you gain more financial freedom and you can save money through lower interest rates and at the same time improve your financial future.
Dean Shainin is a consultant specializing in student loan consolidation. Get valuable resources, tools, information and more articles on student loan consolidation, visit this site: http://www.studentloanconsolidationtips.com
Get free valuable online tips for debt consolidation from his: Student Loan Consolidation
Student loans influence your future financial decisions and your credit. When student loan debt has exceeded eight percent of your income, it can be seen as bad credit when assessed for further loans such as home loans. This may not seem very important right now, but student loan consolidation can have a positive impact on your financial future.
Two Approaches In Reducing Your Student Loan Debt
1. You could eliminate or reduce the primary balance.
2. You could reduce the monthly total payment. Given that debts are measured by comparing your income to the loan payment, if your payment is reduced, it can help you in improving your credit.
With student loan consolidation, you can merge all of your loans into a single loan with one payment per month.
When interest rates of loans fall, your education loans could be consolidated or refinanced.
There are many kinds of student loan consolidation plans offered today. When students do not consolidate their student loan debt, this will result in the inability to acquire future mortgages, car loans, credit cards, and other kinds of credit in many cases.
5 Benefits Of Consolidating Your Student Loans
1. Easy to maintain, single payments per month.
2. Enables you to have manageable repayments of your student loan after you have graduated, especially if you had huge student loans.
3. Student loan consolidation is also beneficial to those students who have graduated; but find that they're still having difficulties managing the payments of all of the student loans they acquired to cover their college fees.
4. A more organized and cost effective plan, with lower interest rates will help you save some money.
5. A long term plan to paying your loan, giving you a longer time frame to pay for your loan. A longer payment plan also means a lower monthly payment, which gives you more flexibility
It is very simple to apply for a student loan consolidation. While your application for student loan consolidation is being processed, it’s important that you continue to pay for the existing student loans.
The lending institution would pay all the existing loans if you qualify. You would then make the payments for your consolidated student loans.
If you are looking for an efficient and cost effective way of managing your student loans, then student loan consolidation may be the right option.
By getting a student consolidated loan today, you gain more financial freedom and you can save money through lower interest rates and at the same time improve your financial future.
Dean Shainin is a consultant specializing in student loan consolidation. Get valuable resources, tools, information and more articles on student loan consolidation, visit this site: http://www.studentloanconsolidationtips.com
Get free valuable online tips for debt consolidation from his: Student Loan Consolidation
website.
What One Must Know About A Students Loan Consolidation Program?
Posted by speedoguy 1 commentsBy Anthony Banks
It is generally asked by the students what the loan consolidation is all about? It is an act of combining more than one student loan into a single loan. In other words if a person has more than one loan to be paid, in consolidation of loan he combines them all into a single loan to be paid only once in a decided or defined time period to only one center or company.
In this way a Student Loan Consolidation Program is a program of loan repayment for college students or graduates. For example if a student has taken five government loans, with the help of this program he can consolidate them all into a single loan. Five separate loans taken previously shall be considered paid in full, and he shall have to pay only the consolidated loan with newly defined terms and conditions. He will have to keep in mind just one due date, and just one center.
Mostly this program suits more to a student who has taken so many loans in past. A student interested in this new loan should first consider the available options. He should decide carefully if the guaranteed state loan suits him more or the plus loan or even a private student loan.
However, these programs are only available to students who have a lot of educational loan debt. Before accepting any financial aid, you should first ask about the options available. After that, then you can decide if you can qualify for a guaranteed state loan, a plus loan, or a private student loan.
Entrance fee, Examination fees, laboratory fee, library fee, board or lodging and traveling abroad for studies are the expenses a student has to consider before applying for a student loan. Now if he has taken his degree and he has $25,000 to be repaid he can qualify for refunding some cash in consolidation programs. He can also have some additional rate reduction.
On a consolidation loan, the rate of interest is based on the average rates of interest on the loans a student decides to consolidate. Once the rate is decided it will remain unchanged throughout this new consolidation loan. The rate, however, should not increase from 8.25 %.
Anthony Banks is financial adviser. He specialize in students loans, and loan consolidation program.
For more information about Students Consolidation Loan visit http://students.relatedarticles.info
Article Source: http://EzineArticles.com/?expert=Anthony_Banks
It is generally asked by the students what the loan consolidation is all about? It is an act of combining more than one student loan into a single loan. In other words if a person has more than one loan to be paid, in consolidation of loan he combines them all into a single loan to be paid only once in a decided or defined time period to only one center or company.
In this way a Student Loan Consolidation Program is a program of loan repayment for college students or graduates. For example if a student has taken five government loans, with the help of this program he can consolidate them all into a single loan. Five separate loans taken previously shall be considered paid in full, and he shall have to pay only the consolidated loan with newly defined terms and conditions. He will have to keep in mind just one due date, and just one center.
Mostly this program suits more to a student who has taken so many loans in past. A student interested in this new loan should first consider the available options. He should decide carefully if the guaranteed state loan suits him more or the plus loan or even a private student loan.
However, these programs are only available to students who have a lot of educational loan debt. Before accepting any financial aid, you should first ask about the options available. After that, then you can decide if you can qualify for a guaranteed state loan, a plus loan, or a private student loan.
Entrance fee, Examination fees, laboratory fee, library fee, board or lodging and traveling abroad for studies are the expenses a student has to consider before applying for a student loan. Now if he has taken his degree and he has $25,000 to be repaid he can qualify for refunding some cash in consolidation programs. He can also have some additional rate reduction.
On a consolidation loan, the rate of interest is based on the average rates of interest on the loans a student decides to consolidate. Once the rate is decided it will remain unchanged throughout this new consolidation loan. The rate, however, should not increase from 8.25 %.
Anthony Banks is financial adviser. He specialize in students loans, and loan consolidation program.
For more information about Students Consolidation Loan visit http://students.relatedarticles.info
Article Source: http://EzineArticles.com/?expert=Anthony_Banks
http://EzineArticles.com/?What-One-Must-Know-About-A-Students-Loan-Consolidation-Program?&id=502433
Should You Really Consolidate Student Loans?
Posted by speedoguy 0 commentsBy Chris Studer
If you're pondering whether or not to consolidate student loans, consider this; all college loans have unique attributes, and not all may be perfectly suited for student loan consolidation. Student loan consolidation is, in most cases, an outstanding option for reducing monthly payments, locking in low rates, and earning opportunities to shave money off your loan balance with lender incentives. When you consolidate student loans, you lock in the current interest rate by allowing the lender to repay the entire amount, then repaying the lender free from government interest rate fluctuations.
PLUS Loan – Good Choice for Student Loan Consolidation
Like many college loans, the PLUS loan (Parent Loan for Undergraduate Students) is a type of federal loan with a variable interest rate. This means that the monthly payment will change when the government reconfigures the interest rates annually (July 1).
The interest rates on PLUS loans are generally higher than other types of college loans so when interest rates increase, PLUS loans can be greatly affected. Since college loans are consolidated by social security number, parents should apply separately for PLUS loan consolidation.
Perkins Loan – Consider before refinancing
The Perkins loan is a fixed rate loan and has some unique benefits that can be lost with a student loan consolidation. The Perkins loan has a forgiveness program that will waive all or part of the repayment amount if the borrower works in specific occupations that provide a valuable service to the community. Some such eligible occupations are teachers in low income areas, nurses, and medical technicians.
If you're not eligible for the various loan forgiveness opportunities offered by the Perkins loan, there is still another point to consider. Because the Perkins loan is a fixed rate loan, and because the interest rate on a student loan consolidation is determined by the weighted average of the other loans, you could actually pay a small percentage more on a consolidated Perkins loan over time.
Stafford Loans – Good Choice for Student Loan Consolidation
Stafford loans are the most common loans, and also the most popular type to consolidate. Stafford loans have a variable interest rate like the PLUS loan, making refinancing a smart choice. Loan consolidation can reduce the repayment amount by up to 63% if refinanced through the right lender.
Like the Perkins Loan, the Stafford Loan also offers a few forgiveness programs for those in certain teaching positions and other various public service jobs. Check to see if you’re eligible for any forgiveness programs before applying to consolidate student loans.
Health Professions Student Loan (HPSL) – Consider before refinancing
The HPSL loan for medical professionals is a fixed rate loan like the Perkins Loan. The HPSL comes with certain deferment options that may be lost after consolidation.
The HPSL offers a 3 year deferment period designed to give relief to medical professionals during residency. This deferment option may or may not be lost after consolidation. Those who have HPSL college loans should inquire with various lenders about deferment options.
Direct Loans – Good Choice for Student Loan Consolidation
Some schools offer Direct Loans, meaning that the money given to students comes directly from the federal government, not through a private lender. Borrowers who obtain these college loans must first consolidate through the Direct Loan program, but then have the opportunity to shop around for lower interest rates.
Beginning July 1st 2006, borrowers will face much stricter regulations when consolidating Direct Loans. After the 1st of July, borrowers will only be able to switch lenders if their current lender does not offer a student loan consolidation with an income sensitive repayment plan.
The two most popular types of loans are the Stafford Loan and the PLUS Loan which is the reason it’s so popular to consolidate student loans. Many students acquire a variety of college loans that may not be beneficial to consolidate. Student loans are not all created equal. It’s important to understand the unique qualities of your individual loans and work with your lender to determine the option that is right for you.
ScholarPoint Financial, Inc. is a national online consumer lending company specializing in student loans. We believe in combining state-of-the-art technology with world class service to help students and parents easily gain access to data, become informed, and enjoy the process of obtaining a college loan. Learn more about Student Loan Consolidation at http://www.scholarpoint.com
Article Source: http://EzineArticles.com/?expert=Chris_Studer
If you're pondering whether or not to consolidate student loans, consider this; all college loans have unique attributes, and not all may be perfectly suited for student loan consolidation. Student loan consolidation is, in most cases, an outstanding option for reducing monthly payments, locking in low rates, and earning opportunities to shave money off your loan balance with lender incentives. When you consolidate student loans, you lock in the current interest rate by allowing the lender to repay the entire amount, then repaying the lender free from government interest rate fluctuations.
PLUS Loan – Good Choice for Student Loan Consolidation
Like many college loans, the PLUS loan (Parent Loan for Undergraduate Students) is a type of federal loan with a variable interest rate. This means that the monthly payment will change when the government reconfigures the interest rates annually (July 1).
The interest rates on PLUS loans are generally higher than other types of college loans so when interest rates increase, PLUS loans can be greatly affected. Since college loans are consolidated by social security number, parents should apply separately for PLUS loan consolidation.
Perkins Loan – Consider before refinancing
The Perkins loan is a fixed rate loan and has some unique benefits that can be lost with a student loan consolidation. The Perkins loan has a forgiveness program that will waive all or part of the repayment amount if the borrower works in specific occupations that provide a valuable service to the community. Some such eligible occupations are teachers in low income areas, nurses, and medical technicians.
If you're not eligible for the various loan forgiveness opportunities offered by the Perkins loan, there is still another point to consider. Because the Perkins loan is a fixed rate loan, and because the interest rate on a student loan consolidation is determined by the weighted average of the other loans, you could actually pay a small percentage more on a consolidated Perkins loan over time.
Stafford Loans – Good Choice for Student Loan Consolidation
Stafford loans are the most common loans, and also the most popular type to consolidate. Stafford loans have a variable interest rate like the PLUS loan, making refinancing a smart choice. Loan consolidation can reduce the repayment amount by up to 63% if refinanced through the right lender.
Like the Perkins Loan, the Stafford Loan also offers a few forgiveness programs for those in certain teaching positions and other various public service jobs. Check to see if you’re eligible for any forgiveness programs before applying to consolidate student loans.
Health Professions Student Loan (HPSL) – Consider before refinancing
The HPSL loan for medical professionals is a fixed rate loan like the Perkins Loan. The HPSL comes with certain deferment options that may be lost after consolidation.
The HPSL offers a 3 year deferment period designed to give relief to medical professionals during residency. This deferment option may or may not be lost after consolidation. Those who have HPSL college loans should inquire with various lenders about deferment options.
Direct Loans – Good Choice for Student Loan Consolidation
Some schools offer Direct Loans, meaning that the money given to students comes directly from the federal government, not through a private lender. Borrowers who obtain these college loans must first consolidate through the Direct Loan program, but then have the opportunity to shop around for lower interest rates.
Beginning July 1st 2006, borrowers will face much stricter regulations when consolidating Direct Loans. After the 1st of July, borrowers will only be able to switch lenders if their current lender does not offer a student loan consolidation with an income sensitive repayment plan.
The two most popular types of loans are the Stafford Loan and the PLUS Loan which is the reason it’s so popular to consolidate student loans. Many students acquire a variety of college loans that may not be beneficial to consolidate. Student loans are not all created equal. It’s important to understand the unique qualities of your individual loans and work with your lender to determine the option that is right for you.
ScholarPoint Financial, Inc. is a national online consumer lending company specializing in student loans. We believe in combining state-of-the-art technology with world class service to help students and parents easily gain access to data, become informed, and enjoy the process of obtaining a college loan. Learn more about Student Loan Consolidation at http://www.scholarpoint.com
Article Source: http://EzineArticles.com/?expert=Chris_Studer
http://EzineArticles.com/?Should-You-Really-Consolidate-Student-Loans?&id=211606
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