LoanConsolidation.Ed.Gov – Nearly anyone that has ever attended a college or university has incurred some type of loan debt. In today’s uncertain economy, it imperative to maintain a high credit score and save money in the process. Student loan consolidation companies can help borrowers manage their financial credits in a positive manner that benefits both parties involved. There are several companies to consider if a borrower is in search of a lender to merge his loan accounts and each company have their own benefits and drawbacks.
Federal Student Loans
Federal loans for students cannot be consolidated with private student loans. It is for this reason that most borrowers consolidate their federal credits under the Higher Education Act; this allows for more flexible repayment schedules, lower interest rates, and streamlined finances. Unlike private loans that may switch from one lender to another, once these loans are consolidated they are still owned by the federal government until repayment has occurred.
Private Student loan consolidation companies
Since the economy has been in a recession, the credit crisis has hit financial lenders pretty hard. Many lenders that were once quite active in the loan consolidation business have withdrew their services and opted for more secure commercial transactions. This leaves borrowers with limited options if they are looking for competitive rates and incentives from the remaining loan consolidation companies.
Once private companies, such as Chase and Next Student, were financial giants and dominated the private student loan consolidation industry; since the recent economic hardships, there are a handful of companies that still participate in private Student loan consolidations. The top two include:
1. Student Loans Network – provides the basic opportunities to lower monthly installments, streamline loan finances, and improve the borrower’s credit score by paying off the individual private loans. These Student loan consolidation companies also provides an option to get free debt consultation if the borrower has additional debt outside of loans. Having multiple accounts with the same company can lead to added discounts and savings.
2. Wells Fargo – offers the borrower the choice of a fixed or variable rate along with the basic advantages of consolidation. This company allows borrowers to consolidate large amounts of loan debts and offers professional advice and services to ensure the borrower has the most efficient program suitable for his situation. Wells Fargo also offers other services (banking, investing, and insurances) outside of loans from which borrowers can benefit.
Compare the above Student loan consolidation companies and shop smart; be sure to study terms, conditions, and fees before committing to any one consolidation company.
What are Student Loan Consolidation Companies Looking For?
Private loan consolidation companies use a borrowers FICO score to determine his eligibility for their programs. This score dictates whether the borrower qualifies for a program and at what initial interest rate he will get his consolidation. Don’t forget that most consolidation programs do not have fixed rates for private loans as these are tied to a standard point of reference; if this benchmark rises, so does the rate on the loan. Be sure to find out exactly what determinants factor into your consolidation rate and how these elements affect fluctuations.
LoanConsolidation.Ed.Gov – Although student loan consolidation companies are a rare breed, there are still a few that are willing to help borrowers manage their loan debts.
LoanConsolidation.Ed.Gov – The US Dept. of Education offers several Federal Student Aid programs, one of which is the Direct Loan Program. Direct Loans are some of the most common loans used by universities and college students alike, in part because students can borrow money and pay it back all to and from the same place. Direct Loans offer college or university students an easy, affordable way to borrow money for college. It provides a way for almost anyone to afford the continuation of their educations.
However, before understanding exactly what the Direct Loan Program does, it is important to first understand the specifics of the Federal Student Aid programs.LoanConsolidation.Ed.Gov
without a doubt, the Federal Student Aid programs provide the most widely-used means of financial aid for college students. Virtually billions of dollars each year go to funding college educations. Federal Gov Student Aid programs offer everything from grants – which do not have to be paid back – to loans – which much be paid back, along with the interest – to work study programs, which allow students to work during college (usually at the college). In general, the Federal Student Aid programs include but are not limited to: Pell Grants; Stafford Loans offered through either Direct Loans or the Federal Family Education Loan Program; PLUS Loans, available solely for parents and graduate or professional students (these, too, are offered either through Direct Loans or the Federal Family Education Loan Program); consolidation loans, also available through Direct Loans or FFEL; work study programs; Perkins Loans; and Federal Supplemental Educational Opportunity Grants.LoanConsolidation.Ed.Gov
Federal work study programs, Perkins Loans, and Federal Supplemental Educational Opportunity Grants are also known as Campus-based programs, as they are offered only through individual universities.LoanConsolidation.Ed.Gov
Direct loans – Now to focus on Direct Loans, which the United States government offers directly (whereas those loans offered by the Federal Family Education Loan Programs are private loans). As aforementioned, Direct Loans offer Stafford Loans, PLUS loans, and consolidation loans. While receiving Direct Loans are relatively easy, there are a few steps which must be followed. For starters, a student must complete the FAFSA form, after which, the university which the student wishes to attend will create a financial aid package that may include Direct Loans. The student then has to sign a master promissory note, assuming he or she wants to accept the loan. LoanConsolidation.Ed.Gov
For the entire life of the loan, the student must make payments directly to the Department of Education. This is because Direct Loans are not sold. A definite pro of Direct Loans is their numerous options for repayment. They have four very flexible repayment plans: standard, extended, graduated, and income contingent. No matter which option a student chooses, they can always go back and change it. Before a student graduates, there are counselors who discuss the repayment options and provisions.
Direct Loans is one of the easiest, most rewarding financial aid programs available today. Their repayment options are second to none and they are very understanding when it comes to unemployment deferrals and the like. Students about to embark on the college experience would do well to check into Direct Loans thoroughly, because they truly do have something to fit every student’s financial needs.
Gary Marjani is author of several articles pertaining to LoanConsolidation.Ed.Gov, student finance aid such as FAFSA, Stafford Loan, Pell Grant, etc.
LoanConsolidation.Ed.Gov – Student loan consolidation is designed to help any college student graduates having several student loans. The students is allowed to consolidate or combine both private loans and student loans to lower rates of interest and the amount that has to be paid monthly..
Many people take advantage of LoanConsolidation.Ed.Gov for removing multiple loan repayments. It can be very helpful for medical as well as law school student grads that often have six or higher financial loans. Soon after graduation, these students must saved funds to make payment for each installment payment plus keep keep track of various repayment dates. After post graduates they need to send late payment for certain those students are subjected to to get late fees and run the potential for destroying the score in their credit report…….
There are some aspects to consider if you want to consolidate loans of college tuition. It’s a great idea conducting work or research with an expert or financial consultant so you can weigh all the pros & cons of student LoanConsolidation.Ed.Gov. Actually the Internet source could be a very good source if you want to understand the complexities of student consolidating loans, together with to browse and review the loan providers…..
with both subsidized and unsubsidized loans will have different needs than graduates carrying one type of financing. Although subsidized and unsubsidized loans can be consolidated, lenders must consolidate the two using two separate loans in order to track payment transactions. However, borrowers will have one monthly payment and lenders contribute appropriate amounts to each account.
Graduates must meet lending criteria in order to consolidate federal student loans. Eligibility criteria involves having an adequate FICO score; paying three loan payments in full; being current on all loan payments; and waiting six months from the date of graduation before applying for a consolidation loan. LoanConsolidation.Ed.Gov
Post graduates with Sallie Mae financing must apply for consolidation loans through a conventional lender. At present, Sallie Mae is no longer participating in the federal loan consolidation program due to legislative cuts made by Congress.
Students with Sallie Mae education loans can obtain counseling with a repayment specialist to find out which refinancing options exist. Student loan payment program details are provided at SallieMae.com.
When borrowers consolidate education loans through LoanConsolidation.Ed.Gov they must apply for a new loan to pay off outstanding student loans. Nearly all private and federal loans can be consolidated including: Perkins, Stafford, Direct, Guaranteed, and Health Professional.
The U.S. government offers a sponsored student LoanConsolidation.Ed.Gov for graduates who obtained financing through Direct Loans. This program is a good choice for students with bad credit because applicants are not required to undergo credit checks. Program details are provided at .
Last, but not least, post graduates should research loan consolidation alternatives such as forbearance programs, tuition deferment, and student loan forgiveness. Debt forgiveness programs are available to graduates who hold degrees and obtain employment in public service fields such as education, medical and law. Student Loan consolidation Ed Gov alternatives are presented at CollegeScholarship.org.
LoanConsolidation.Ed.Gov -Learn more about studentloanconsolidation and personal money management strategies from well-known author and real estate investor, Simon Volkov.
His site offers a plethora of info and resources to help graduates get out of debt through budgeting and finance management. Discover helpful tips and insider-secrets by visiting our website www.SimonVolkov.com.
College Loan Calculator – All College loans are given from a wide variety of organizations which often have their own web pages, and on their web pages, have college loan calculators. These calculators are quite simple. They are based on a few factors, all of which attempt to give an estimate the cost and financing options for a specific part of one’s college costs. The goal of a college loan calculator is to help the student(s) and parent(s) figure out how much money they will need to invest, how much they can loan, the students possible salary after graduating, and other relevant information. Nonetheless, each college loan organization has their own customized calculator, all with different criteria. LoanConsolidation.Ed.Gov
One of the most common calculators found in almost all college loan organization websites is a college costs calculator. College cost is calculated quite simply by taking yearly costs, inflation rates, how many years the student will be attending, and so on. This is a great calculator for helping students/parents figure out how much money they will need going into college.LoanConsolidation.Ed.Gov
Another common college loan calculator is the savings calculator. The savings calculator assists students/parents in determining if they are currently set (budget-wise) to attend college. A few factors are taken into consideration with this calculator – how many years before they attend college, how much the student/family currently has saved, how much they will save monthly, etc…
There are a number of other calculators available as far as loan calculators go. It all comes down to the specific organization. Some organizations will offer a more extensive list of calculators, while others will only offer a few. A simple Google search should help you to find some of the most popular college loan calculators out there.
– Every student should use a college loan calculator with their parents before going making big decisions as far as college goes. There are too many things to factor in, and doing these by hand simply takes too long. college loan calculator make the process much more simple for students & their own parents.LoanConsolidation.Ed.Gov
Perhaps you need Alternative College Loans to complement the kind of financing you may have already received from the government. If you are looking for alternative college loan financing then you should be happy to know that there are numerous private college loan programs available to you if you are in need of additional college loan financing. These private college loans are based upon the borrower’s credit so if you are a student and have no credit, bad credit, or poor credit then you are going to need a credit worthy cosigner before you apply.
One of the more important distinctions you should make when looking for your Alternative College Loans is whether the loan needs to be sent through the college before it is disbursed to you. Some private college loans do not have to be what is called “school-certified” and these types of loans can actually be sent to you immediately once you are approved. Many consider these kinds of Government Student loans to be fast college loan due to the speed at which they are made but this can depend on the lender as well.
Alternative College Loans have become increasingly popular over the past five to 10 years or so and if you don’t want to go through the hassle of waiting for you school to authorize your loan then these fast college loans may be for you.LoanConsolidation.Ed.Gov
So what does it take to apply for these kinds of student loans? Well fast Alternative College Loans are based upon your credit so unless you have good credit then you will probably need a credit worthy cosigner to come along and sign for your loan. The lender will also want to see the other kind of basic info most credit-based loan products require such as income, expenditures, and other kinds of personal information.
Once you apply for these kinds of fast Alternative College Loans or student loans you can expect a decision within about a week, and once you are approved throug Student Aid you can then expect a check in the mail within about two weeks although this can vary depending on the lender. If you need some quick financing for your college education then don’t hesitate to apply for Student Aid as they could be the difference between matriculation & living at home.
LoanConsolidation.Ed.Gov – When acquiring a student aid or loan, there has to be some form of repayment plan that has to be devised in order for the borrower to know exactly what they have to do in order to repay the loan. It is a very good idea for students who are planning to attend the school of their choice to find out the basics of how much of a loan they would need in order to attend that school. They would also need to research the student loan repayment terms that their specific school would have about their loans.Student Loan Repayment Calculator
Once you have all of this info that you would need, in order to find out if you actually could afford to pay this loan, you could visit the internet and use one of the many Student Loan Repayment Calculator that are available. These calculators take information which include the loan balance or the amount of loan, the interest rate that you are going to get the loan with, and loan fees that are included within the LoanConsolidation.Ed.Gov loan, the loan term which is the amount of time given to repay the loan, and the minimum payment each month that you will have to pay.
With this information that you enter into the fields that are given, the Student Loan Repayment Calculator can determine what the monthly student loan repayment amount would be on the time given in order to repay the loan. It can also determine the salary amount that is needed in order to afford this type of monthly amount without much effort. These calculators all assume specific details about the result that is given and the result is just an estimation due to these assumptions possibly changing down the road sometime during the life of the loan.
LoanConsolidation.Ed.Gov – The Student Loan Repayment Calculator assume that the interest rate that is given in the calculation would remain the same for the loan term. It also assumes that the monthly amount that it gives should be in equal amounts throughout the life of the loan.
We all know that interest rates fluctuate all of the time and there are a lot of times when a person will make a double payment in order to pay off the LoanConsolidation.Ed.Gov loan early. It is a good idea to keep a boo-kmark of these calculators in order to update your calculations in order to make up for the changes that could occur.
College Loans – You need College Loans? but you have Bad Credit? Never let financial restraints keep you from getting a quality education. Even if your credit is bad you still can afford going to college. Consider getting a co-signer. A family member with good credit can help you get loans with favorable rates and terms, despite your bad credit. I’ve also found some loan options that have nothing to do with your existing credit. So you can still get college loans bad credit.
The federal Stafford Loan comes in two types – subsidized and unsubsidized. Credit doesn’t matter with the Stafford loan. The subsidized Stafford Loan is awarded to financially needy students. If you qualify, the federal government pays the loan interest due every month while you’re in school and for the six-month grace period between graduation and repayment. The unsubsidized Stafford Loan is available to every student, regardless of need. Another advantage to the Stafford Loan you can reapply every school year!
The federal Perkins Loan is another solution for poor credit borrowers. This is another government subsidized student loan that requires no credit check. Perkins loans are available for both undergraduate and graduate students. Typical loan awards are between $1,000 and $4,000 for each school year, not to exceed $20,000 total.college loans bad credit
Maybe you are pursuing a degree in one of the health science fields, such as medicine or nursing. There are student loans specifically designed for health science students that are completely credit-free!college loans bad credit
The Department of Health and Human Services sponsors the Loans for Disadvantaged Student program, a low-interest, and non-credit based loan, available to socially and/or financially disadvantaged students seeking degrees in approved areas of the health sciences profession. You are required to apply for the Loans from Government Student Aid for Disadvantaged Students program through the financial aid office of the participating school.
The Nursing Government aid program provides up to $4,000 per school year to qualifying nursing school students. Loans are low-interest and come with a grace period of 9 months. Recipients must be enrolled at least half-time in an approved nursing program and prove adequate financial need.
The Primary Care Loan program is designed to provide auxiliary, non-credit based student loans to those pursuing medical degrees with a focus on primary care. college loans bad credit feature a grace period of 12 months. One of the requirements is that the recipient must remain practicing primary care for the duration of loan repayment.
LoanConsolidation.Ed.Gov – Now my favorite one the federal PellGrant. The great thing of a PellGrant is that disbursed funds do not require repayment, they are a gift. Also nearly every state government offers Student Aid scholarship and grant money. LoanConsolidation.Ed.Gov
StudentAid.Ed.Gov – Going to college can cost a lot of money, as you probably know. If you are planning to attend college soon, you may want to consider applying for federal aid. You can start by filling out the Free Application for Federal Student Aid, otherwise known as FAFSA.Federal Student Aid
The sooner you fill out this form, the more improved your chances are of obtaining the total amount of financial aid available to you. Also you’d be able to repair any possible problems that might arise far ahead of the deadline for the Federal Student Aid.
The last date for applying varies from year to year, but is normally somewhere near the start of summer. It is best to apply as early as you can though, so that you can get any questions or concerns you have answered in a timely basis.
A far as the FAFSA goes, most colleges require this form to be filled out before they will award any kind of financial aid, including federal. In fact, you need to check with your college to see if the FAFSA is required even for applying for scholarships as well as aid. Start with the financial aid office at the college of your choice, to discover what forms they require.
Federal Student Aid – Also keep in mind that you will might have to fill the F.A.F.S.A form every year, because financial aid is not always renewed each year. The rules change from year to year regarding who gets eligible for aid, and so you need to apply for it every year you are in college.LoanConsolidation.Ed.Gov
Besides student loans, through the FAFSA you can also apply for Federal Pell Grants and Federal Work Study programs. Of course, loans should be the last alternative you choose. But any kind of aid will make it possible for people to attend college, who otherwise may not have the chance.
Besides checking with the college of your choice about all the options available, also talk to your high school counselors. And do searches on the internet for LoanConsolidation.Ed.Gov information on loans, grants, scholarships, and work study programs that may be available to you.
Federal Student Aid – If you do choose to get financial aid through a loan, make sure you read and understand the terms of the loan fully first before accepting. Best of luck!LoanConsolidation.Ed.Gov
To see more articles [www.student-loan-aids.com] about StudentAid.Ed.Gov and loans, such as government and alternative student loans, consolidation info, and more, please visit [http://www.student-loan-aids.com].Federal Student Aid
StudentAid.Ed.Gov – Pursuing an advanced college degree? Continuing your college education can help you achieve your professional goals as well as your financial goals, but it can also put you in a financial hole. Here are some important points to consider before deciding whether an advanced degree is a good match for you.
Are you thinking about pursuing an advanced college degree? Continuing your college education can help you achieve your professional goals as well as your financial goals, but it can also put you in a financial hole. Here are some important points to consider before deciding whether an advanced college degree is a good match for you.
What is your plan?
It seems obvious, but after seven years of working with potential graduate students, I discovered that it is not so common. In short, before deciding if you should continue your education, it is important that you have a definite reason to pursue a degree. “I always wanted one,” is not a good reason. Most people who said this to me never completed their training program. There are two main reasons that they don’t finish… time and money. In this article, we are going to focus on everyone’s favorite topic…money.StudentAid.Ed.Gov
One of the main reasons why higher education should be approached with a clear plan is to come up with ideas for how you will pay tuition, fees, living costs, etc. Return on investment should not be specified only in terms of money, although that should be one of the most important points in your decision.StudentAid.Ed.Gov
The cost of a Masters degree from a quality school that is regionally accredited can cost $ 10,000 and beyond. Far beyond!
Getting a Student Loan
One of the most common mistakes I see is that the student loan, is completely over used. According to StudentAid.Ed.Gov, students may borrow up to $18,500 yearly by taking out Federal Stafford loans.
Of the $18,500, only $8,500 can be subsidized, & interest rates are currently around 6.8%. The total amount of Stafford loan graduate students are able to take out is $138,500. It’s clear that student loans from StudentAid.Ed.Gov can add up quickly, especially if the loan is going towards the cost of living when you’re in school.
Since receiving federal financial assistance from StudentAid.Ed.Gov is quick and fairly simple, it can be tempting to justify entering into a lot of debt. According to Finaid.org, the average student graduates with $25,000 in loans. Many students are still carrying the loan for their undergraduate degree and stack up even more loans in grad school. It is clear to see how these StudentAid.Ed.Gov can get people into a big mess if there is no plan in place.
Make sure you have a clear plan for what a degree means to you in terms of how much more money you can make, professional growth, and career opportunities. If you saved up for a master’s degree, congratulations, you’re ahead of the game. Otherwise, be creative and find a solution to pay all tuition and fees up front. It will pay off many times for you in the long term.
Training and ROI
StudentAid.Ed.Gov – If you have already invested, you know the term ROI or return on investment. Investors want to know what their return on investment will be and how long it will take for their return. If you are considering a Masters degree, you should do the same by taking advantage from the StudentAid.Ed.Gov program.
Here’s a quick exercise to determine the ROI of your education. This is not a magic formula, but at least it will put things in perspective for you.
1st – Write down what your tuition and fees will total. This includes: tuition, books and the cost of school resources that you may have to pay, including: parking, library fees, etc. (most candidates think only education in terms of tuition.)
2nd – Note how much money you plan to make on top of your current salary each year as a direct result of getting your master’s degree.
3rd – Divide the amount your education will cost by the amount of extra money you will earn.StudentAid.Ed.Gov
Example: If your Masters degree and fees cost $30,000, and you will make $7,000 more each year as a direct result of earning a master’s degree.
$30,000 divided by $7,000 = about 4 and a half years to start earning a return on your education investment..
This is obviously a quick overview, so you have an understanding of what your degree could do for you and how long it will take to earn what you paid for your education. LoanConsolidation.Ed.Gov
Money is not everything!!
StudentAid.Ed.Gov – As noted above, there is more to think about than money, but this is a good starting point for reflection and planning. What other things should be considered before starting a Master’s degree?
Drew Morgan writes for careershelpingpeople.com. A blog that is dedicated to career and education advice and tips.LoanConsolidation.Ed.Gov
Loan Consolidation.Ed.Gov – While you were a student you probably took out more than one loan in order to cover the costs of your education. Did you know that you can actually combine all loans together and make them into one loan? This can be done through student loan consolidation. You do not even have to worry whether a loan was a government loan or a private loan as both can be combined.
A student loan consolidation is a great tool that is used by both the government and local financers who are willing to help you reduce your student loan debts. When you consolidate your loans you will be able to lower your overall monthly payments and have a lower interest rate. Plus it is not uncommon to graduate with a significant amount of money in student loans. Before you choose you will want to know about some of the benefits of government consolidation programs.
A federal student loan consolidation is financed by the Federal Student Aid. Since you probably took out more than one loan when you were a student, you are probably overwhelmed looking at the amount of bills that you have. This is a great way to be able to reduce the number of payments that you are making. It is really pretty simple to combine these loans but you will want to be aware that you could be losing some useful benefits that were first given to you with the federal loans.
Government Student Loan Consolidation
There are so many advantages to consider that it is hard to choose where to start. One of the biggest advantages is that you are able to get a longer repayment term. You will be able to get lower interest rates as well so you will not be paying more money when paying over a longer period of time. Depending on the total amount of your loans, you will actually be able to have a repayment term of between ten and thirty years.
Another thing to consider is that if you have bad credit, you will not need any credit checks. There are no additional fees either with this form of student loan consolidation. You will also get the advantage of not having to make more than one monthly payment.Loan Consolidation.Ed.Gov
There are some reasons why you might want to combine your subsidized and unsubsidized loans. You can actually take advantage of this and not lose any of the other benefits that you had when you had both types of loans. This just means that you will only have one payment each month. The two loan types will be separated for you to check and look at on a regular basis either online or in your statements.
This process only takes between sixty and ninety days and is quite simple. The steps that you have to take for government student loan consolidation include filling out an online application and submitting a promissory note and introduction letter.
Student Loan Consolidation -By choosing a government student loan consolidation, you are choosing a fixed interest rate, lower payments, and better repayment terms. I enjoy writing on different subjects. Please visit my latest web-site over at http://www.studentloanconsolidationratesinfo.net/ which gives students information about Loan Consolidation.Ed.Gov