Consolidating Student Loans Online
by Budi Hartato
Student loan consolidation refers to wrapping all your student loans into a
single loan with one lender and one repayment plan. You can plan to
consolidate your loan like refinancing a home mortgage. The time you
consolidate your loan, the balances of your other current loans are paid off,
with the total balance playing over into one consolidated loan. Here are the top 5 benefits of student loan consolidation: 1. Lower monthly payments By consolidating all your student loans into one loan, you only need to pay off one loan monthly instead of several student loans monthly. Thus, your monthly payment is lower. 2. Pay only one loan monthly instead of several student loans monthly It is a lot easier if you have to manage only one student loan instead of several student loans with different payment deadlines. Also, sometimes with many student loans, you may end up forgetting to pay one student loan. 3. Low, fixed interest rate By consolidating your student loans, you will be able to take advantages of low, fixed interest rates 4. No credit check or processing fees No credit check is required during the application of a student loan
consolidation. refinancing student loans
The payment plans and terms are usually quite flexible in that
they can customize it according to your financial standing. 5. Make monthly student loan payment electronically While it is not necessary to make payment electronically, using direct debit refinancing student loans
from your bank account will prevent you from forgetting to make a payment. (
Fort Lauderdale, FL 2/08/2008 01:19 AM GMT (TransWorldNews) Applying for an individual student loan can lower the interest rate because
places offer incentives to use them for the loan. Some companies offer a
lower rate for having the monthly payment automatically deducted from your
account. There is also a benefit by making so many consecutive payments, on
time, and that showing will lower the interest rate. This of course will make
your payoff amount decrease since more money will go to the principle instead
of interest. refinancing student loans
Having a single student loan can help your credit rating because of how your credit score is figured. Part of the score is made up of how many outstanding
debts you have as well as the total amount due to each. Getting a student
consolidation loan will give you a higher loan amount due but only for one
loan and not the several others that you currently may have. Thus, your score will go up and even get better as you pay off that loan. refinancing student loans
It will not be an instantaneous fix as credit companies can take up to six
months to report a drop of a loan off your report. But if you don't use your
credit unwisely in this time period your score will raise and when you do
apply for something at later time you can possibly get a lower interest rate
for that loan as well. Which will have you making lower payments on that item
and help you pay off that loan faster too? (Darnell Scott: Fort Lauderdale, FL (PRWeb) January 25, 2007 -- By utilizing the most secure refinancing student loans
online school loan consolidation system, Student Financial Advisors is able
to offer up to 1.85% off of the student's effective interest rate for Federal
student loan consolidation. "We are utilizing technology to securely streamline the process of consolidating student loans, but at the same time we are using that
technology to help people understand the entire student loan consolidation
process," Peter Restivo, Vice President of Marketing said. The rate discount breaks down like this; first of all by consolidating while still in their grace period, students can receive a .60% rate discount. Next, Student Financial Advisors offers .25% off of the effective interest rate for students who sign up for automatic check withdrawal. Lastly, after only 36 on time payments, Student Financial Advisors will take an additional 1.00% off of the effective interest rate, for a total of a 1.85% rate reduction. "We here at Student Financial Advisors have created the Student Loan refinancing student loans
Consolidation Information Center to help people find the answers to all of
their questions pertaining to the consolidation of federal student loans,"
said Peter Restivo, Vice President of Customer Relations. Before applying for any student loan consolidation, a student has to do some research in determining which student consolidation loan is suitable for him/her. Here are some pointers which you can take into consideration before taking out a student loan consolidation:
1. Credit Rating It is important to know your credit score since it is a major factor indetermining whether you get the student consolidation loan. If your rating is over 660, then you should not have any problems getting a loan. If however
your credit rating is less than 600, you might want to evaluate ways to
improve your credit score first. Your credit rating will also determine the interest rate you have to pay for your consolidation loan. The higher the credit score, the lower the interest
rate. refinancing student loans
2. Interest Rate Even though you can get lower interest rate with a student consolidation loan, the repayment period is usually longer. In the long run, you actually pay more for your loans. My advise would be to research for lenders who can allow you to upgrade your payment when you can afford it. For example, you may not
be able to repay much when you are still a student, but once you have a job
and have a regular income, it will be best to clear the loan as soon as
possible. refinancing student loans
3. Income minus Expenses You need to evaluate your current income minus your expenses to determineyour net income surplus each month. Analysis your expenses to see if you can reduce or eliminate any. (Ricky Lim: about-studentloan.com) Summary: Before you make decision to use student loan consolidation, you should
evaluate what we'll get, interest rate, credit rating etc. After you gets
information thus you make a decision how you'll consolidate your student debt
loan on line or off line. refinancing student loans
Monday, April 20, 2009
Latest Student Loan Advise Revealed
Latest Student Loan Advise Revealed
by Sara El
It is really interesting to be in college but many students find it financially difficult without student loans. I'm not referring to your books and Tuition alone as there are many more financial challenges that come with college education. Imagine the number of payments you will be making if you have quit living with your parents. Student loans come in very handy at a point where students find it tiring to combine school with heavy bills. refinancing student loans
At the beginning, a student may find it difficult to get one of these student loans. Depending on which would be more convenient, the student may apply for either the private or federal student loans. refinancing student loans
Be ready to work hard to get this loan because there are certain requirements involved. These loans consist of two kinds; the federal and the private ones.refinancing student loans
You can be sure of low interest rates when you get the Federal student loans because of the government's backing. refinancing student loans
Your interest rates can come in 2 forms- subsidized and unsubsidized. In the case of subsidized student loans, there is absolutely no increase on original rates as long as the student is still registered with these schools. refinancing student loans
What this means is that you can be sure that no interest is accumulating while you are still enrolled in school. refinancing student loans
It's not the same with the unsubsidized loans because interest rates will keep accumulating even if you are still enrolled in school. If the student can't pay this accrued interest immediately it will keep adding to the original amount, even though the student will be given more time to pay off. Don't just fold your arms because you won't get a federal loan without filling a FAFSA form. refinancing student loans
A profile application may be necessary for the college scholarship services. Don't worry about payments because filing a FAFSA form is completely free and the others may require a small fee. refinancing student loans
by Sara El
It is really interesting to be in college but many students find it financially difficult without student loans. I'm not referring to your books and Tuition alone as there are many more financial challenges that come with college education. Imagine the number of payments you will be making if you have quit living with your parents. Student loans come in very handy at a point where students find it tiring to combine school with heavy bills. refinancing student loans
At the beginning, a student may find it difficult to get one of these student loans. Depending on which would be more convenient, the student may apply for either the private or federal student loans. refinancing student loans
Be ready to work hard to get this loan because there are certain requirements involved. These loans consist of two kinds; the federal and the private ones.refinancing student loans
You can be sure of low interest rates when you get the Federal student loans because of the government's backing. refinancing student loans
Your interest rates can come in 2 forms- subsidized and unsubsidized. In the case of subsidized student loans, there is absolutely no increase on original rates as long as the student is still registered with these schools. refinancing student loans
What this means is that you can be sure that no interest is accumulating while you are still enrolled in school. refinancing student loans
It's not the same with the unsubsidized loans because interest rates will keep accumulating even if you are still enrolled in school. If the student can't pay this accrued interest immediately it will keep adding to the original amount, even though the student will be given more time to pay off. Don't just fold your arms because you won't get a federal loan without filling a FAFSA form. refinancing student loans
A profile application may be necessary for the college scholarship services. Don't worry about payments because filing a FAFSA form is completely free and the others may require a small fee. refinancing student loans
Use Citi Bank Student Loans To Complete Your Education
Use Citi Bank Student Loans To Complete Your Education
by Jim Kesel
If you are looking for a way to get into college without having to sell car or rob a bank, you may want to consider applying for one of Citi Bank student loans. Citi Bank is an internationally known bank, with clients coming from the different parts of the world. Its financial standing worldwide can not at all be simply ignored. In fact, in terms of holdings, Citi Bank has been recognized as one of the largest banks in the United States. refinancing student loans
So, if you are applying for a student loan, there is no better choice than Citi Bank . Citi Bank student loans enable students to fulfill his dreams of a college education without going to extremes or too much of a hassle. For some going to college is, after all, a very stressful experience in itself. Adding to the stress are the normal expenses every student must pay including tuition, books, miscellaneous fees, lodging, and the like. Many students, in fact, become so stressed that they drop out of college altogether as a result of money concerns. There really is no reason to quit as there are many options that a student can use to get their diploma. refinancing student loans
One such option is a student loan at a financial institution. Citi Bank is just one of many financial institutions that have both public and private loan packages available. In addition to the usual federal subsidized and unsubsidized loans, Citi Bank offers private student loans, through its CitiAssist Loan Program. This particular City Bank student loans program is fitted for all types of students, graduates or non-graduates, and even high school students.
Getting into and apply for the CitiAssist Loan Program is relatively easy and convenient. If you have a legitimate address in the United States and an internet connection, you may even do this online, and you are guaranteed a credit response in just three minutes. You also have available the traditional way of applying at any Citi Bank branch office. refinancing student loans
To qualify to the CitiAssist Loan Program, you must be presently enrolled in college, or at the very least, accepted by a university and planning to attend a normal undergraduate program at an accredited school in the United States. Good academic performance is not required of a student to be eligible to the program, but a favorable credit rating may work as an advantage in having your application approved. refinancing student loans
An advantage of the CitiAssist Loan Program is that it does not have loan limits. You can borrow as much as the actual cost of the attending school at very competitive interest rates. Payments are deferred while still in school or during the grace period of six months upon graduation, but they are encouraged because early and consistent repayments can significantly lower the interest rate. Further, this program offers a twenty-year period repayment term which can help reduce your monthly payments. All of which allows you to have more spendable income available when you first enter the job market. refinancing student loans
If you have multiple student loans you may want to seek some student loans consolidation advice. Consolidating your student loans with a Citi Bank loan may save you a lot of money over the life of the loan. refinancing student loans
Do not give up on attending school just because of financial worries. Contact Citi Bank student loans department on line and make an application. You may be surprised how easy and affordable your education can be. refinancing student loans
by Jim Kesel
If you are looking for a way to get into college without having to sell car or rob a bank, you may want to consider applying for one of Citi Bank student loans. Citi Bank is an internationally known bank, with clients coming from the different parts of the world. Its financial standing worldwide can not at all be simply ignored. In fact, in terms of holdings, Citi Bank has been recognized as one of the largest banks in the United States. refinancing student loans
So, if you are applying for a student loan, there is no better choice than Citi Bank . Citi Bank student loans enable students to fulfill his dreams of a college education without going to extremes or too much of a hassle. For some going to college is, after all, a very stressful experience in itself. Adding to the stress are the normal expenses every student must pay including tuition, books, miscellaneous fees, lodging, and the like. Many students, in fact, become so stressed that they drop out of college altogether as a result of money concerns. There really is no reason to quit as there are many options that a student can use to get their diploma. refinancing student loans
One such option is a student loan at a financial institution. Citi Bank is just one of many financial institutions that have both public and private loan packages available. In addition to the usual federal subsidized and unsubsidized loans, Citi Bank offers private student loans, through its CitiAssist Loan Program. This particular City Bank student loans program is fitted for all types of students, graduates or non-graduates, and even high school students.
Getting into and apply for the CitiAssist Loan Program is relatively easy and convenient. If you have a legitimate address in the United States and an internet connection, you may even do this online, and you are guaranteed a credit response in just three minutes. You also have available the traditional way of applying at any Citi Bank branch office. refinancing student loans
To qualify to the CitiAssist Loan Program, you must be presently enrolled in college, or at the very least, accepted by a university and planning to attend a normal undergraduate program at an accredited school in the United States. Good academic performance is not required of a student to be eligible to the program, but a favorable credit rating may work as an advantage in having your application approved. refinancing student loans
An advantage of the CitiAssist Loan Program is that it does not have loan limits. You can borrow as much as the actual cost of the attending school at very competitive interest rates. Payments are deferred while still in school or during the grace period of six months upon graduation, but they are encouraged because early and consistent repayments can significantly lower the interest rate. Further, this program offers a twenty-year period repayment term which can help reduce your monthly payments. All of which allows you to have more spendable income available when you first enter the job market. refinancing student loans
If you have multiple student loans you may want to seek some student loans consolidation advice. Consolidating your student loans with a Citi Bank loan may save you a lot of money over the life of the loan. refinancing student loans
Do not give up on attending school just because of financial worries. Contact Citi Bank student loans department on line and make an application. You may be surprised how easy and affordable your education can be. refinancing student loans
Student Loan Payment Options
Student Loan Payment Options
by Evelyn Saunders
If you have a high amount of student loans that you are struggling to pay off, then you may have questions about how to handle it. There are provisions with most types of student loans that allow you to defer payments or adjust payments to meet your needs. Check with your lender for specifics. Here, we will discuss common options when it comes to paying down your student loans. refinancing student loans
If you are really in over your head and have considered bankruptcy, be prepared. Bankruptcy is not an option for federal student loans. They will not go away or be discharged even if you are filing bankruptcy. You do have some options though. You can apply to change the pay off terms of your student loans. Instead of struggling to pay them off in ten years, you can stretch them out to thirty years. This, of course, would end up costing you more interest in the long run, but it could relieve the stress of large monthly payments. If you're missing payments because they're too high, then it will end up costing you more anyway, not to mention that you can ruin your credit by missing payments. refinancing student loans
Filing bankruptcy with a private student loan is not any better. There is a provision for undue hardship, but the standards are extremely hard to meet. If you can meet the requirements, then it is possible to get a private student loan discharged. This provision is very rarely awarded. You should consider different ways of paying off your student loans if possible. refinancing student loans
One option is to talk to your lender about a graduated repayment plan. This plan allows you to start out at low payments that steadily increase over time. This gives you some time to build your income up to a point where you can afford the larger payments. Payments are figured generally once every two years, so you have some time to prepare when the payments increase. refinancing student loans
Another option is setting up an income based repayment plan. This plan uses your adjusted gross income each year to figure the payment that you can afford. The payment is based also on the size of the loan. How many members you have in your family is also taken into consideration. Many find this a very effective way to budget for student loan payments.
In times of extreme hardship, you may qualify to defer your loan payments. This doesn't mean that they are discharged or gone, but simply put off until a later date. Many types of student loans will not have interest accruing during the deferment period. If you don't qualify for deferment, you may qualify for forbearance. Forbearance is like deferment, in that you can postpone payments for a set length of time. Unlike deferment, forbearance options do accumulate interest during the period that you are not making payments.
In general, you should try to pay off your student loans whenever you come into extra money. All debts need to be taken seriously and you should always pay as much as you can afford. If you are in some trouble and need to change the terms or put off monthly payments for a while, contact the custodian of the loan. Manage it well, and you can be on your way to paying off your student loans. refinancing student loans
by Evelyn Saunders
If you have a high amount of student loans that you are struggling to pay off, then you may have questions about how to handle it. There are provisions with most types of student loans that allow you to defer payments or adjust payments to meet your needs. Check with your lender for specifics. Here, we will discuss common options when it comes to paying down your student loans. refinancing student loans
If you are really in over your head and have considered bankruptcy, be prepared. Bankruptcy is not an option for federal student loans. They will not go away or be discharged even if you are filing bankruptcy. You do have some options though. You can apply to change the pay off terms of your student loans. Instead of struggling to pay them off in ten years, you can stretch them out to thirty years. This, of course, would end up costing you more interest in the long run, but it could relieve the stress of large monthly payments. If you're missing payments because they're too high, then it will end up costing you more anyway, not to mention that you can ruin your credit by missing payments. refinancing student loans
Filing bankruptcy with a private student loan is not any better. There is a provision for undue hardship, but the standards are extremely hard to meet. If you can meet the requirements, then it is possible to get a private student loan discharged. This provision is very rarely awarded. You should consider different ways of paying off your student loans if possible. refinancing student loans
One option is to talk to your lender about a graduated repayment plan. This plan allows you to start out at low payments that steadily increase over time. This gives you some time to build your income up to a point where you can afford the larger payments. Payments are figured generally once every two years, so you have some time to prepare when the payments increase. refinancing student loans
Another option is setting up an income based repayment plan. This plan uses your adjusted gross income each year to figure the payment that you can afford. The payment is based also on the size of the loan. How many members you have in your family is also taken into consideration. Many find this a very effective way to budget for student loan payments.
In times of extreme hardship, you may qualify to defer your loan payments. This doesn't mean that they are discharged or gone, but simply put off until a later date. Many types of student loans will not have interest accruing during the deferment period. If you don't qualify for deferment, you may qualify for forbearance. Forbearance is like deferment, in that you can postpone payments for a set length of time. Unlike deferment, forbearance options do accumulate interest during the period that you are not making payments.
In general, you should try to pay off your student loans whenever you come into extra money. All debts need to be taken seriously and you should always pay as much as you can afford. If you are in some trouble and need to change the terms or put off monthly payments for a while, contact the custodian of the loan. Manage it well, and you can be on your way to paying off your student loans. refinancing student loans
See How Easy Student Loans For The Undergraduate Really Are
See How Easy Student Loans For The Undergraduate Really Are
by Michael Blair
Some of those on their way to college have nothing to worry about. Their parents have more than enough money and they are willing to fork over any amount so their children can go to any university they want. But for many who are on their way to college it is not so simple.
There are several sources of student loans for the undergraduate. Federally funded programs and private lending programs are available to help those who want to further their education. refinancing student loans
The first step is to get an idea of the amount of financing you'll need to go to school. The school you're planning to attend will have a financial aid department. All schools will have different requirements when it comes to tuition, books, and other fees that may be present. You'll also need to consider living expenses if you're not planning to work while you attend school. refinancing student loans
All of these preparations, including the applications for student loans for the undergraduate, should start 6 - 9 months before the school begins and the bills start pilling up. Even with the power of the Internet the lenders likely need things from you that need to be mailed to them "snail mail". refinancing student loans
This is especially true if you're planning to apply for federally funded loans. The application and approval process can take months. Don't delay once you've made the decision to start school. Get in touch with the financial aid department and begin the process as soon as possible. refinancing student loans
Some of the available Federal student loans for the undergraduate are loans such as Perkins and Stafford loans. The financial aid office at your school can help you with them and point you in the right direction. When applying for financial aid, i.e. student loans or grants, your local financial aid office will usually have you start with an FAFSA application, with that you may find that there are grants available for your situation. refinancing student loans
If you don't qualify for federal programs it may be time to look into private student loans for the undergraduate studies. Where as with federal loans they don't check on your credit history, private lenders will check it. But they also allow co-signers so it may not be quite so bad. refinancing student loans
The repayment of your student loan is also something to think about. Student loans allow you to defer repayment of the loan for 6 mos. - 1 year after graduation, or as long as you are a full time student. Where as the governmental loan tend to offer a number of repayment plans, private student loan lender are less flexible. refinancing student loans
To recap, get in touch with the financial aid office at your college, for student loans for the undergraduate, grants, or other financing, they will be the best place to get the process started. refinancing student loans
Although private loans are an option, there are many options, Federal student loans, grants, work study programs, and more, start looking there first. refinancing student loans
by Michael Blair
Some of those on their way to college have nothing to worry about. Their parents have more than enough money and they are willing to fork over any amount so their children can go to any university they want. But for many who are on their way to college it is not so simple.
There are several sources of student loans for the undergraduate. Federally funded programs and private lending programs are available to help those who want to further their education. refinancing student loans
The first step is to get an idea of the amount of financing you'll need to go to school. The school you're planning to attend will have a financial aid department. All schools will have different requirements when it comes to tuition, books, and other fees that may be present. You'll also need to consider living expenses if you're not planning to work while you attend school. refinancing student loans
All of these preparations, including the applications for student loans for the undergraduate, should start 6 - 9 months before the school begins and the bills start pilling up. Even with the power of the Internet the lenders likely need things from you that need to be mailed to them "snail mail". refinancing student loans
This is especially true if you're planning to apply for federally funded loans. The application and approval process can take months. Don't delay once you've made the decision to start school. Get in touch with the financial aid department and begin the process as soon as possible. refinancing student loans
Some of the available Federal student loans for the undergraduate are loans such as Perkins and Stafford loans. The financial aid office at your school can help you with them and point you in the right direction. When applying for financial aid, i.e. student loans or grants, your local financial aid office will usually have you start with an FAFSA application, with that you may find that there are grants available for your situation. refinancing student loans
If you don't qualify for federal programs it may be time to look into private student loans for the undergraduate studies. Where as with federal loans they don't check on your credit history, private lenders will check it. But they also allow co-signers so it may not be quite so bad. refinancing student loans
The repayment of your student loan is also something to think about. Student loans allow you to defer repayment of the loan for 6 mos. - 1 year after graduation, or as long as you are a full time student. Where as the governmental loan tend to offer a number of repayment plans, private student loan lender are less flexible. refinancing student loans
To recap, get in touch with the financial aid office at your college, for student loans for the undergraduate, grants, or other financing, they will be the best place to get the process started. refinancing student loans
Although private loans are an option, there are many options, Federal student loans, grants, work study programs, and more, start looking there first. refinancing student loans
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