How to Consolidate Student Loans
Student loan debt can be challenging, but taking advantage of consolidation offers will aid you in getting a handle on your payments, and lessen the number of bills you have to pay every month.
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Categories: Loan Videos Tags: consolidate, consolidation, federal, loans, payments, Student, Student Loan Student, Student Loans, taking, Video Rating
Do i have to repay my student loans from one school if I start attending another?
Question by united albaquirki: Do i have to repay my student loans from one school if I start attending another?
I am going to be graduating in Dec from a community college.. with my associates in pre nursing. i am going to be attending a 4 year school to get my bachelours in nursing… do i have to start repaying my loans from first school now?? or does it wait til i am graduated from the second school?
Best answer:
Answer by Bluekittie
If it is through FAFSA, you can just change the school when you file your on-line App.
If it or a portion was through the school you will get a statement for you to begin paying.
Know better? Leave your own answer in the comments!
Should I take try and get a bank loan to pay off my student loan?
Question by steven: Should I take try and get a bank loan to pay off my student loan?
My student loan is variable interest and sits at 12.25% right now. I owe 11,100$ on it. Would it be better for me to try and get a bank loan to pay it off so that I’m dealing with the bank instead of the Sally Mae loan?
Best answer:
Answer by bluebell
It would be good for you to find a lower rate of interest.
Find out from banks and local credit unions what their rate of interest is for a personal loan. When you have found the best rate, ask there about the possibility of a loan. If that is credit union, you will need to join up as a member and start saving there, ideally every week. After about 10 weeks you may apply for a loan, and by then you will have created a “history” with them for reliability, and getting the loan is virtually assured. You need to repay it (ideally weekly) over 5 years. A loan this size would cost approx. $ 65 weekly in my credit union over 5 years, or $ 95 weekly over 3 years.
Add your own answer in the comments!
Graduation Debt: How to Manage Student Loans and Live Your Life (CliffsNotes)
Graduation Debt: How to Manage Student Loans and Live Your Life (CliffsNotes)
Graduation Debtis different from the competition because it provides a step-by-step road map for effectively managing student loan debt and having a successful financial life. Yet, it’s completely positive. The focus is less on sacrifice and more on not wasting money, so readers can live better lives while paying off debt.
The book’s content is divided into small subsections geared toward those neck-deep in student debt. The brevity of each section makes the book digestible to those who aren’t inclined to focus on their finances. Readers are encouraged to take action steps such as finding long lost student loans that may have gone into default, discovering payment plans they can afford, consolidating loans when it makes sense to do so, saving money on eating out and groceries, improving credit scores, tweaking their debt-to-income ratios that’s needed to buy a home, discussing their student loan and non-student loan debt with their significant others.
By the end of the book readers will be on the road to managing all their debt and having extra money for vacations and other fun stuff, too.
How to Miss Student Loan Payments Without Hurting Your Credit
Amazon-exclusive content from the author
Worried your credit will take a nose dive if you miss federal student loan payments? Your credit won’t be dinged if you call your loan servicer and qualify for a temporary payment reprieve.
What steps do you need to get approval for an excused absence from making payments?
1. Write down your monthly expenses and your monthly income on a piece of paper. Your loan servicer is going to want to know why you need a break from student loan payments.
2. Peruse the Department of Education’s or your servicer’s Web site to see if there are special reasons you might qualify for a payment break such as military service or you’re returning to school. You’ll find the words forbearance and deferment. These are the terms used for an approved temporary break from payment. The difference between the two is that in deferment the government will pay the interest charged until your deferment expires.
3. Write down circumstances that apply to you that you found on the same piece of paper as your finances.
4. Find the contact information for all your student loans. If you don’t have your paperwork for all your loan servicers, contact the department of Education or pull up your loan list by logging in to the National Student Loan Data System Web site.
5. Click on each loan that shows a balance in the Outstanding Principal column. Scroll down to the contact chart and write down the name of your servicer and the contact number. Repeat for each loan on which you still have a balance.
6. When you call each of your servicers, tell them you need either a deferment or forbearance. Then tell them your circumstances as to why you need a payment break. There may be a brand new type of forbearance or deferment that may work better for you.
7. Don’t accept more time than the maximum you could need at once, especially if you qualify for forbearance instead of a deferment. Why? Your interest still accrues if you are granted forbearance. For example, let’s say you have ,000 in student debt at a rate of 5 percent. You decide to take a six-month payment break. Six months later, your loan has grown to ,500 because of accrued interest and no payments made.
8. Fill out any necessary paperwork asked for by your servicer (s). Wait a week after you submit paperwork to call and verify paperwork has been received.
9. To protect your credit, wait to stop making payments until you’ve received a notice in writing from each servicer with the exact date your deferment or forbearance will begin and end. Call each servicer to verify this date and the date you should start making payments when your deferment or forbearance ends.
10. Keep your loan information in a folder in a place where you will be able to easily find the information later.
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Categories: Loan Products Tags: CliffsNotes, Debt, Graduation, life, live, loans, Manage, Student
Financial Aid : How to Repay a Federal Student Loan
In order for you to pay back federal student loans, it is crucial that you find out who your lenders are and the ways to set up automatic payments. You should be in contact with them for notifications when you get new loans and when it’s time for repayment. Most of them send you billing statements in the mail.
Watch this video on student loans and financial aid and you might just get the guidance you need if you’re among the many students who availed of such loan.
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Zero Debt for College Grads: From Student Loans to Financial Freedom
Zero Debt for College Grads: From Student Loans to Financial Freedom
“Zero Debt for College Grads, by Lynnette Khalfani, puts into plain English what many recent college graduates need to hear: lay off the credit cards and expenses and be a bit more realistic with your lifestyle.” –The New York Post
As the cost of a college education continues to increase at a rate of about 9% annually—nearly three times the rate of inflation—more and more college students are taking out loans to cover tuition, fees, and other expenses. Median undergraduate student loan debt is currently close to ,000, and graduate students end up with an additional ,000 in debt upon graduation. Pile on thousands more in credit card debt, and many college students today graduate with massive financial burdens that they are not prepared to handle.
In Zero Debt for College Grads, noted personal finance expert Lynnette Khalfani provides a thorough roadmap for stress-free living that will allow recent graduates to focus on their burgeoning careers while navigating the ups and downs of their financial responsibilities.
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More Repay Loan Products
How To Repay Student Loans Quickly
We all put a premium on education. If we lack resources to do so, there are always an alternate route. Some people opt for student loans.
You will learn the difference between private and federal loans in this video. Will you qualify for student loans? Watch this video and find out. Also, heed these tips about what you can do to make sure that you will be able to pay off your student loan quickly.
Categories: Loan Videos Tags: loans, repay, Student
Free Yourself from Student Loan Debt: Get Out from Under Once and for All Reviews
Free Yourself from Student Loan Debt: Get Out from Under Once and for All
The average American college student owes about ,000 in loans after graduation. Quadruple that amount for the average grad school graduate. An estimated seven million Americans have accumulated nearly billion in student loan debt over the past 30 years. Not all of these borrowers are fresh out of college; many are in their late 20s, 30s, and even 40s. Indeed, the amount of student loan debt facing Americans is pervasive, if not problematic.
Fortunately, a number of creative ways exist to pay off this financial burden that, for many, goes on for years and years. In Free Yourself from Student Loan Debt, business writer Brian O’Connell outlines the best ways to do just that-as quickly and painlessly as possible. He guides readers through often over-looked but perfectly legitimate loan management techniques, including how to:
* “”Consolidate”” loans for easier (and lower) payments.
* Defer loans with no penalty.
* Take a “”break”” from student loans through a mechanism called forbearance.
* Get out of default status by making as few as six minimum payments.
* Fix problems that result when a loan isn’t paid, with no lasting impact on credit or finances.
* Convince financial institutions to “”forgive”” loans.
* Fight the government and financial institutions that claim student loan debts weren’t paid years after they were.
With wit and wisdom, O’Connell backs up his guidance with case histories, anecdotes, information boxes, sidebars, and colorful industry profiles-all packaged together in one lively, user-friendly book. As a bonus, he offers 50 surefire tips to eliminating student loan debt.
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Student Loans 101
Student Loans 101
Have you been wondering how you are going to be able to afford to send your kids to college? You are not alone. Or perhaps you want to return to college or enter college but do not think it is possible because you don’t have the money. Think again.
A college education is necessary today if you are going to get a decent job. But not everyone has the money to shell out for an expensive education. But that doesn’t mean that you have to give up on your dream of sending your kids to college or going to college yourself. You can make it happen! And in some cases, you can get your kids to college without it even costing you a dime!
Wouldn’t it be nice to have all the information you need about where to get financial aid for college in one place? Well, now you can have it in this book “Student Loans 101.”
This book answers all of your questions about student loans, how to get them and everything else that you ever wanted to know about getting financial aid for college. We will even tell you how you can get a grant where it costs you NOTHING to attend school!
In this book you will learn the way you can go to college regardless of your financial status, how to find the right loan for you and how you can pay it back, how you can get your student loan forgiven, how to get a grant that offers to pay your way through college, the difference between college and federal aid, and a lot more!
It is so frustrating to read the advice from one webpage only to find out it is contradicted on another. Give up those endless hours of research and reading because there is a one stop, tell-all source that will give you the information you need to tell you everything you need to know about financial aid for college in “Student Loan 101.”
In a world of financial difficulties, the last thing you want to worry about right now is the amount of money needed to fund your child through college!
You’re not the only one who desperately seeks some kind of financial help right now, with bills, the price of gas and everything else going through the roof YOU need a concise and straight to the point eBook to point you in the right direction to help you fund those college fees!
This all-inclusive guide will explain, in simplified terms, all the questions that have eluded you in your internet searches or textbooks on the subject. The information presented is the newest available from those who are familiar with all aspects of college financial aid.
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Categories: Loan Products Tags: loans, Student