Consolidating Student Loans

At present, debt is a common problem for almost everyone. People are looking for ways to get an answer to the most frequently asked question “how to pay off bills?”. A recent survey conducted by the National Center for Education Statistics demonstrates that 50% of existing college graduates carry student loans and the average amount of student loan debt is $10,000. The average cost of college education rises at two times the inflation rate, which ...Read More »

Private student loans have become increasingly popular in recent years due to the rising costs of attending college. Private loans may offer a great way to supplement federal student loans, but when it comes to consolidation, they have a whole different set of rules and regulations. Before consolidating private student loans, make sure you know the differences between federal and private consolidation. Consolidating federal student loans is a relatively easy process that requires no credit checks, ...Read More »

The GI Bill that was proposed after 9/11 was finally signed last year and put into law this past August. The Bill basically allows for veterans to get free money for college, and it’s a well-deserved benefit that they’ve earned for serving our country. The problem, however, is that there is a huge backlog of veterans waiting to receive their GI bill payments to pay for school. Of the estimated 275,000 veterans who have applied for ...Read More »

Applying for a federal student loan consolidation is not an overly difficult process, but you must first ensure that you're eligible to do so. The Higher Education Reconciliation Act of 2005 eliminated the option to consolidate student loans while still in school, so first and foremost, you must either be graduated, less than half-time student, or dropped out of school in order to be eligible for a federal consolidation loan. That being said, students who have ...Read More »

A recent vote by the House Financial Services Committee has approved the Consumer Financial Protection Agency Act of 2009 (H.R. 3126). The federal Consumer Financial Protection Agency (CFPA) would regulate the nation's financial industries, including that of private student loan lending. Read More »

Taking out student loans while attending school is the easy part; repaying those student loans is the hard part. College graduates learn this lesson rather quickly upon graduation when they begin repaying their student debt incurred while attending college. Some grads – very smart grads I should add – are turning to a very simple student loan repayment strategy that is saving them a ton of money in the long run - We're talking thousands ...Read More »

Equifax recently reported that consumers are increasingly making late payments on just about every type of debt – student loans, car loans, credit cards, mortgages, etc-. They also report that because of the shaky economy, the number of student loans obtained in recent months has skyrocketed. As a matter of fact, the student loan sector is really the only financial lending product that is booming right now. The reason is simple: more people are heading ...Read More »