Posts Tagged ‘Attending College’

Smart Student Loan Consolidating

February 4th, 2010



Attending college is a fantastic experience. It’s a totally unique experience from high school, especially if your college has a large campus. There are many different activities that colleges offer students, far more than any high school can. Also many new people to meet, from all over the world. Going to college can be wonderful.

But it can be a pain too, if you have to pay for it. And if you needed to fund your tuition and other expenses with student loans, then it becomes really painful when you have to start paying those bills. Plus you have to pay the interest on what you borrowed too.

If you are in this fix, where you know your bills and interest will be too high, then there is one sensible idea to try. You can consolidate your student loans. Doing so will allow you to minimize your payments and significantly reduce your interest rate.

What often happens with college students who have taken out loans, is that they forget about them. It’s not hard to understand though, because college life can be so hectic. When diploma time comes, the loans are all but forgotten. That is, until the bills start coming in.

These same students also forget that they may have borrowed money from more than one lender. So after school they start getting bills from all over. And then life gets really hectic, keeping all the bills straight.

But to assist in this problem, students look to student loan debt consolidation. Then their monthly payments can be merged into one smaller monthly payment.

There are several loan consolidation services that can be found online. One such service is at NextStudent.com. They have a very informative website, and offer free one-on-one counseling, as well as low interest rates.

There are several student loan debt consolidation sites on the web. If you are in a bind with trying to pay your loans, then please do a search online right away, I’m sure you’ll find a service that will dramatically improve your financial circumstances.

By: Jim Konerko

Consolidating Private Student Loans and The Rest of Your Options Post Graduation!

December 8th, 2009



If you are inching closer to graduation, then you have already begun to get marketing materials about consolidating private student loans. This is because when you graduate you have 6 months before you have to start paying on your loans. This is one of the options you can use to make it easier to manage your payments. Here are the other options you have.

1. Deferment

There are two type of deferment. One is just deferment and the other is educational deferment. The first is a period of time that your loans will accrue interest, but you will have no payments due. This will help you if you need more time to get your finances in order to pay on your loans. You can use this for up to 2 years after your first 6 months after graduation.

The other deferment is used for going back to school. As long as you are attending college classes part time you do not have to pay on your loans. They will still accrue interest if they are the type that do, but you will not have to pay until 6 months after you stop going to classes.

2. Consolidating private student loans

When you graduate you will have the option of consolidating private student loans and all your other loans. Most of the time you can do this to make them into one loan with one payment and one interest rate. This will make it much easier for you to deal with the loan and you will only have one monthly payment instead of a dozen or so. This is a smart option if you plan to begin paying on your loans.

3. Forbearance

If you have begun to pay on your loans and you run into some difficult financial times, then you can use what is called a forbearance to pause your loan payments for 6 months at a time to help you get through the difficult time before you have to pay on them again. This is for periods of unemployment or medical emergency.

By: Chad Wistick