Consolidate Your Student Loan Payments Into One Easy and Low Payment.
In the Lens below, you will find out:
– If you really need to consolidate your Student Loans.
– How to consolidate them if you do need to.
1. Should You Consolidate?
* Are your monthly payments too much?
- Consolidation can help you avoid default.
* Do you make too many monthly payments?
- Consolidation gives you convenience.
* What is the interest rate(s) on your loan(s)?
- If you have a variable rate, it could go up.
- The rate on a consolidated loan is fixed.
Amazon Has a Couple of Good Book Titles on the Subject…
Student Loan Consolidation: Getting Out of Debt
Student Loan Consolidation: Getting Out of Debt
Amazon Price: $2.29 (as of 06/29/2009)
Loan Consolidation: What’s in it For Me?
* You only have to deal with ONE LENDER
* You only have to deal with ONE MONTHLY PAYMENT
* As many as FOUR FLEXIBLE PLANS to suit the needs of the borrower
* There is NO MINIMUM or MAXIMUM LOAN AMOUNT
* Consolidation is FREE
* You may qualify for RENEWED DEFERMENT BENEFITS
* You might end up with REDUCED MONTHLY PAYMENTS
Are You Eligible for a Direct Consolidation Loan?
* You must have at least one DIRECT LOAN, or,
* FEDERAL FAMILY EDUCATION LOAN (FFEL)
* Loan must be in GRACE, REPAYMENT, DEFERMENT or DEFAULT status
* Loan in “IN-SCHOOL” status not eligible
Which Loans Can You Consolidate? (Part 1)
Subsidized Loans
* Subsidized Federal Stafford Loans
* Direct Subsidized Loans
* Subsidized Federal Consolidation Loans
* Guaranteed Student Loans (GSL)
* Federal Insured Student Loans (FISL)
* Direct Subsidized Consolidation Loans
Which Loans Can You Consolidate? (Part 2)
Unsubsidized Loans
* Unsubsidized and Nonsubsidized Federal Stafford Loans
* Direct Unsubsidized Loans
* Direct Unsubsidized Loans (TEACH) (converted from TEACH Grants)
* Unsubsidized Federal Consolidation Loans
* Direct Unsubsidized Consolidation Loans
* Federal PLUS Loans (for parents or for graduate and professional students)
* Direct PLUS Loans (for parents or for graduate and professional students)
* Direct PLUS Consolidation Loans
* Federal Perkins Loans
* National Direct Student Loans (NDSL)
* National Defense Student Loans (NDSL)
* Federal Supplemental Loans for Students (SLS)
* Parent Loans for Undergraduate Students (PLUS)
* Auxiliary Loans to Assist Students (ALAS)
* Health Professions Student Loans (HPSL)
* Health Education Assistance Loans (HEAL)
* Nursing Student Loans (NSL)
* Loans for Disadvantaged Students (LDS)
Which Loans Can You Consolidate? (Part 3)
Ineligible Loans
* Loans made by a state or private lender/not guaranteed by the federal government
* Primary Care Loans
* Law Access Loans
* Medical Assist Loans
* PLATO Loans
How Do I Apply For A Consolidated Loan?
First, you go to the website URL that I am about to give you below.
(NOTE: All applications are on hold until July 1, 2009)
Then, you can apply in three different ways:
1. Online Web Application
2. Express Phone Application (800)557-7392 (all Direct Loans only)
3. Download a PDA Paper Application
In any of the above three cases, use the weblink below to get there.
Here’s a Link to a Website That Can Help…
It’s actually the Department of Education:
Ok…it’s a department within the department, which specializes in the consolidation of student loans. It makes sense when you think about it. The entire system of education will run better if the system that finances it runs better. Anyway, here’s the link to their website to get you started. Good LUCK!!!
https://www.loanconsolidation.ed.gov
Upon reaching the website, I would encourage you to read it’s contents entirely. There is a lot of useful information there, and the website is very logically organized.
ONE MORE PARTING THOUGHT:
I hope that this short and brief Lens has helped you on your way to consolidating your debt!
Please take a few seconds to look at and click the Google Ads at the top or bottom of the page…it helps pay the bills!
by stevo7
Article Source: http://www.squidoo.com/loanconsolidationstudent
Tags: Loan Consolidation