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student loan consolidation calculators
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 student loan consolidation calculators
- Where to Find College Funding in a Credit Crunch (Carteret County News-Times)
(ARA) - This year alone, more than 60 lenders have exited the federal student loan market and in the private market, most lenders have significantly tightened restrictions or left the business altogether.
- Die, Student Loan, Die! (Motley Fool via Yahoo! Finance)
Should you pay your education loans off at all costs?
- State using $50 million bond to solve student loan crisis (Lexington Herald-Leader)
Kentucky will pump $50 million into a state agency so it can resume issuing loans to college students as they begin fall classes. Gov. Steve Beshear announced Friday that the state will buy a $50 million bond from the non-profit Kentucky Higher Education Student Loan Corp., usually referred to as The Student Loan People. The .bridge loan,. as Beshear called it, will jump-start the ...
- Student loan agency to run out of money (Lexington Herald-Leader)
The state agency that provides loans to Kentucky's college students will .effectively run out of money. Friday until about Aug. 21 as it awaits new federal funds intended to alleviate a national crisis in student loans. The Kentucky Higher Education Assistance Authority, and its lending arm, The Student Loan People, will finish giving out the available funds Thursday, said James R. ...
- Die, Student Loan, Die! (The Motley Fool via Yahoo! News)
Make fun of the so-called "professional students" all you want. You know, the ones who, unlike the TAs, remember the original Dukes of Hazzard TV show. But would you be in a huge hurry to check out of the ivory tower and into debtors' prison?
- Corinthian Caught In Student Loan Trap (Forbes)
The for-profit college operator posted strong Q4 results, but shares fell on increased loan defaults.
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