All the information you need to make an educated decision
Private Student Loan Consolidation
Federal loans are often not enough to cover the full expense of a college education. Therefore, private loans are sometimes a necessary choice for students seeking higher education. You may have received these private loans from such top loan providers as Sallie Mae Signature, Citibank, Bank of America, and NextStudent. The next step in repayment is private student loan consolidation.
It is important to consolidate your private student loans because they tend to have higher interest rates, shorter payback periods, and a lack of certain protections in comparison to federal loans. The sooner you can consolidate your private student loans into one loan and potentially lengthen your repayment period, the better off you will be. If your current student loan debt exceeds 8% of your income, or if you have borrowed more then $5,000 in private loans, you should consolidate your debt to avoid default and prevent negative effects to your credit. Remember not to consolidate your private and federal student loans into a single consolidation loan because you will lose the benefits of your federal loan.
Education Loan Changes Effective July 1, 2009
A number of changes to student loan interest rates, origination fees, and repayment plans took effect on July 1, 2009. Read on for a summary of the changes.
Financial Aid and Resources for Graduate StudentsA number of financial resources are available to help graduate students fund their educations. Read on for a discussion of some helpful options.
Applying for a Direct Consolidation Loan: The 9 StepsIf multiple educational loan payments are getting you down, think about applying for a Direct Consolidation Loan. You may be able to cut the multiple-payment stress and, in some cases, even reduce the interest you're paying. Here are nine steps to help you complete an application.
Information on Private Education LoansBefore you rush out and apply for a private education loan, make sure you apply for all other aid, shop around for the best deal, think about how much to borrow, and understand your repayment options. This information may help.
What Happens to Your Student Loan if You Are Disabled?If you are disabled, you may be able to temporarily defer repayment of your student loans or if you are permanently and totally disabled, you may be eligible to have your loans discharged (cancelled).
Guide to No Cosigner Student Loans
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