Student Loan Consolidation Program

by: Sarah Russell f you’ve recently graduated from college, you’ve probably been bombarded with mailings and advertisements urging you to refinance (or consolidate) your student loans right away. But wait, what is loan consolidation? And why should you do it? If you’ve just graduated from college, you’ve probably got a number of different student loans, all in different amounts from different lenders at different interest rates. Loan consolidators (which can be private banks, lenders or government agencies) pay off all your individual loans in exchange for a single loan in the same amount issued to you. So now instead of all those different loans, you’ve got one loan that you repay to the consolidator. Refinancing your student loans reduces your monthly payments and locks in a fixed interest rate. In most cases, student loans have variable interest rates set a few points below prime. As interest rates go up, so will the interest rate on your loans. When you refinance your loans, you lo...

What You Should Know About Student Loans By Mike Selvon If college were not so expensive, then many people would not need student loans to help them pay for expenditures. A student loan can help you pay for the things you must have, which scholarships and Federal grants do not cover. Parents who have saved for your college education often have not saved enough to help cover every expense. Tuition, books, room and board quickly eat through savings and there is often nothing left over for the necessities, such as food and gas. A college loan can be the way to help pay for college but there are several types of student loans available. The three main types are: Federally guaranteed loans, parent loans and private loans from a credit card company or bank. Each has certain rules and repayment schedules, so it is important to thoroughly research the differences. You certainly do not want to have to worry about repaying the loan while you are attending school, if you can possibly avoid it. I...

Students: Control Your Debt by: Tom Tessin Each year, a majority of students leaving college come home close to $20,000 in debt, not including the student loans. One of the main reasons students come home in debt is because of the majority of credit card offers on campus. Since credit cards aren’t a bad thing, it all comes down to the person that is in charge of using them. A credit card is only bad if you abuse the powers. If a student is going to go out and purchase things he/she can’t afford, they will soon find out that they will be over their head in no time. The main reason this is, is because they don’t physically hand of the money. Instead, they hand a plastic card over that has no value. There are many ways to control your debt but the first thing it comes down to is the person using the credit card. If a person can accept their responsibility and be able to control their spending habits, you’ll be past the hardest step in no time. In order to achieve these first two goals, t...