Saturday, December 16

5 Tips of Student Loan Consolidation Program

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 Let’s face it, the fact that the word debt is associated with your name can make you nervous, however the other fact is, “help is available.” For college graduates and college drop outs with staggering unpaid student loans, you can consolidate your loans into one manageable payment. This would be stretched out over a period of 10 – 30 years.

Consolidate federal student loans and non federal student loan consolidation is easier than you might think. This frees up a significant portion of your monthly expenses and makes it possible for you to apply more money to your life. You need to have a plan that work and working with debt consolidation lenders is just a phone call away.

Why Consolidate?

One bill = One Payment: With each loan being a different rates and repayment plan, you are able to bundle all your federal student loans into one easy monthly payment.

Varying Interest Locked: Consolidation of student loans lock a fixed rate for the life of the loans. This being the mean of all of your different loans can make your life so much easier, and put to end the various collections agencies who manages loans.

No Co-signer: Having a co-signer attached to your student loan can be very stressful. This at times can feel overwhelming when you have challenges and might have difficulty making timely payments. Once you have complete 48 consecutive payments, you do not need a co-signer attached to your loans, and if you choose to consolidate your student loans, you do not need a co-signer to qualify.

Multiple Repayment Options: Student loan consolidation lenders make it easier for you with extended repayment options, you can choose between 10-30 years plan with most consolidated student loans.

Deferred Payment: If you were ever to loose your job or have any other financial hardships, you are able to get a deferment of your student loan by the lender. This postpone the repayment of your student loan for a period until a period of 9-18 months.

Balance: As you make monthly payments on your consolidated student loan, your principal reduces making your balance smaller and the monthly repayments also decreases giving you the peace of mind and the fact that you can become debt free.

Discount: When you consolidate your student loans, you have a grace period, however, you can start your repayment immediately and benefit form a interest discount, you can also get a discount if you have your monthly payments debited from your bank account.

The great thing to know is that there is hope for each student who have a student loan. Whether federal student loans or private student loans. You can find help to manage your bills and simplify your life. Student loan consolidation lenders are available to service your many loans and most times, reduce your payments, this makes for an easier way for you to manage your life, your home and your future.

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