Have you ever wondered what exactly is up with
federal loan program repayment student
Loosening The Grip Of Student Loan Debt
Funding education can be complicated and difficult to manage. Learn how to control your education debt with these tips and guides.At this time of year many are seeking ways to cut costs on student loans. You may have a number of programs your paying off simultaneously. Plus loans, Stafford financing, private loans, etc.
How do you go about consolidating and or refinancing to lower rates, reduce payments or make one easy payment as opposed to two, three or more?
Consolidation Options
The first question here is what type of loan do you have? Federal government direct loans allow for a Federal Direct Consolidation Loan program. This program enables you to lower your rate by .25% with the checking account debit requirement.
Sallie Mae Programs
Sallie Mae offers a consolidation program with the following options: One percentage point discount after 48 consecutive timely payments 0.25% discount for electronic payment.
Private Loan Options
Private loans that are not federally backed from Sallie or Nellie Mae and therefore cannot be consolidated with federal loans. But there are programs that allow you to roll all your loans into one account. Although the Federal and private loans are actually separate, you make one monthly payment that covers them all.
Another program, the H@LO Student Consolidation Loan can help you lower your monthly payments by up to 60% and lock in interest rates as low as 2.5%. See http://www.studentcollegeloan.com for more information on the H@LO program.
Benefits of the H@LO Student Consolidation Loan:
Lower your monthly payment Lock-in a lower interest rate, fixed for the life of the loan It's free to consolidate No credit check required Maintain all the current benefits of your federal loans Pay just one bill each month
If you're looking to refinance to lower rates, consolidate or both this may prove to be the ideal option for improved debt management.
About the Author
Mark Askew is editor for the Mortgage Loan Search Network at http://www.mortgageloansearch.cc and the Rate Watch Alert Newsletter. Offering consumers alternatives to business and personal finance.
More Useful Resource and Updates on federal loan program repayment student
- Congressman's office offers solutions to 'Best in Class' participants (WAVE 3 Louisville)
We first broke the story about thousands here in Kentucky suffering from unpaid student loans in late August. Since then our Troubleshooter Charla Young has been digging for new developments hoping to find relief for the thousands affected by federal cuts.
- New York Plans to Sue Student Loan Company (New York Times)
The attorney general of New York is preparing a lawsuit against a student loan company, Goal Financial , charging that the lender broke state and federal laws by luring borrowers with iPods, cash and other gifts and that it misled consumers about loan terms and benefits, The New York Times?s Jonathan D. Glater reported, citing a senior official in the office.
- Capturing the Youth Vote: McCain, Obama Target Concerns About Paying for College (Marketwire via Yahoo! Finance)
With the general presidential election only months away, concerns over the availability of student loans and how families will cover their college costs continue to be at the forefront of young voters' minds, in the midst of a dragging economy where credit is tight, unemployment is up, and high gas and food prices continue to eat away at families' paychecks.
- Finance 101: TransUnion.ca Offers Tips to Help University Students Manage Their Money (CNW Group via Yahoo! Finance)
University students have a lot on their plate and oftentimes, students who aren't careful with their spending habits may end up adding credit card debt to their list of worries. TransUnion.ca is providing simple steps to help students graduate with high honours in credit management.
- Federal Student Loan Efforts Finding Fair Share of Takers (Financial Planning.com)
Student lenders plan to finance a significant portion of their federally guaranteed loans this academic year using two programs the Department of Education started in July to guarantee liquidity to the market.
- New York Plans to Sue Student Loan Company (New York Times)
The attorney general is preparing a lawsuit against Goal Financial, charging that the lender broke laws by luring borrowers with cash and gifts and that it misled consumers about loan terms.
- Color of Money Book Club (Washington Post)
Personal finance columnist Michelle Singletary hosted an online discussion with Carolyn Warren, author of "Mortgage Rip-Offs and Money Savers" (John Wiley & Sons), on Thursday, Aug. 28 at Noon ET.
- How to Go to Business School for Free (BusinessWeek)
- Move over banks, Web sites link borrowers with individuals who lend money (The Record)
NEW YORK - Social lending, person-to-person, is getting more attention as other sources of small loans dry up. Borrowers are looking for angels willing to make small business and personal loans. Angels gamble that they can find dependable people, make some money and have some fun.
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