Archive for September, 2010

Student Loan Consolidation ( Kitty se Suisuinian)


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Student Loan Repayment and Consolidation?

Hello everyone! I just graduated and have about $100,000.00 in total student loans including Govt. subsidized / unsubsidized Stafford Loans and Private loans. About $50,000 is in Stafford loans with an interest rate of 6.8% and $50,000 in “Signature Private Loans” at about 10%. They are all with Sallie Mae. I’m in the 6 month “grace period” now. I’ll be going to graduate school starting this spring (in seven months)

Any advice on if/how/with who I should consolidate my loans with and how do my interest rates look. Any ways to get them lower? I have great credit, a co-signer with great credit and a full time job. Any help on figuring out the best way to pay this stuff back/make my payments lower, would be great.

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When does it make sense to approach a Student Loan Consolidation Center for help? If you are a young person or a parent who is trying to pay off student loans, it may make a lot of sense to consider consolidating all your outstanding loans into one loan with a lower interest rate.

Consult with the Student Loan Consolidation Center and ask about locking in the interest rate that you are paying at today’s rates. That way, even if interest rates do rise, you will not be charged the higher interest rate. If you have signed an agreement for a student loan with a variable interest rate, the rate of interest charged on the money owed rises and falls with changes in interest rates.

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I have $12,000 in credit card debt from 5 years ago. I am currently in school full time and simply cant pay anything on it. The collection agency wants me to get a student loan and settle at the origional debt of $6,000. He is sending me in writting now that the debt will show paid in full on my credit report. Is it wise for me to do this or would I be a fool?

Are with the continued increase in tuition fees, many students choose to apply for student loans. As a result, a large majority of graduates end up with multiple loans. If they have not graduated with a degree in finance, do not understand the majority of students how to responsibly handle a large amount of debt. Fortunately, major banks and financial institutions recognize this and offer student loan consolidation advice and services.

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My student loans are in default but I have made the last 3 monthly payments of 50.00 each and on time. What else do I need to do to get the loans into consolidation and out of default. Why? I wish to enroll in a program to go past my Associate’s Degree, and I need student financial aid. I was incarcerated for over 7 years and now I wish to better myself and move forward with my life.

Using student loan consolidation is a useful financial instrument to help you keep down your payments by lengthening your repayment term and is usually backed by the federal government. generating this way of paying less is pretty much free, though you will pay over the years through the interest you pay.


Putting Your Student Loan Payments Together

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I feel like my monthly payments are way too high for the amount I borrowed. Consolidation options only made the payment term longer. Is there anything else I can do?

Basically what I am looking at is a choice of which branch to join. While I would like to finish college first and potentially get a commission as an officer, I have been reduced to only two classes each semester from cost and time constraints, and my community college has almost no options for an actual degree, it’s more of a place to take the prerequisite classes before transferring out.

So the reason for enlisting is to pay for college without the weight or burden of student loans. But if any of you think it would be better to take out the loans and get the school finished first, let me know that too!

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