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Consolidation of student loans offers the opportunity to reduce interests costs and loan payment simplification. Having to deal with multiple lenders can be confusing and can cause mistakes in payment that would adversely affect credit ratings.

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How do you stop a student loan wages garnisment?

You should consolidate your defaulted student loans and stop the wage garnishment. You can get an income-based repayment plan and pay as little as $0 a month, defending on your income and dependants. If you want help with the consolidation of your defaulted student loans, click on the link below


What are todays most commonly used student consolidation loan rates?

Rates for student consolidation loans can really vary depending on the funding institution you are using for the loan. Rates are also based on your credit score. So make sure you credit is descent if you want lower rates.


How do you know if a debt consolidation loan is a good idea?

Debt consolidation loans are good for people who are trying to keep track of lots of small bills like maxed out low limit credit cards, or for people with multiple student loans. By putting all the debt under one lump loan, it helps people who were falling behind get control of their debt. A debt consolidation loan is a good idea if after consolidation you have a lower total monthly payment at a lower interest. If one of your loans has a significantly higher interest rate than your other loans, you'll want to exclude it from your debt consolidation and focus on paying it off as quickly as possible. If your debt consolidation loan includes it, your rate will be higher and you will wind up paying more over time.


What is federal loan consolidation?

In the US, the Federal Consolidation loan Program has many benefits. It allows you to combine all the student loans you currently have into one new student loan. The interest rate you receive is based on a weighted average of the interest rates on the underlying loans. The interest rate on student loans just went down to around 2.75% on July 1, 2009. By consolidating, you will lock in the low rate for the life of the loan. You keep your right to deferment and forbearance if you need them. If you die before finishing repayment, the loans will be forgiven. Another great program that started this past July 1 is the income based repayment plan. If you consolidate your loans, you can opt in for this repayment program. Your payment can be as low as $0 a month, based on income and # of dependants. You also have the balance forgiven after 25 years of repayment, even if you have hardly paid any of it. If you want help with the consolidation of your loans, click on the link below.


Who should get a debt consolidation loan?

Federal Student Loan Consolidation Program means combine all loan into a single pay. :Loan consolidation is the best for the student who not able to pay your fees. If any student want to continue their study and they want to take admission in top college for higher education but good college take high fee. But some time all student unable to pay your college fee then they take student loan. But after completion of education they are facing problem with pay your student loan then they require loan forgiveness or consolidation. Federal student loan consolidation is the best option to pay your all loan into single pay

Related Questions

What is the best way to get a consolidation loan if you have bad credit?

In the US, you can consolidate your loans even with bad credit if they are Federally Guaranteed student loans, like Stafford loans. If you want help with the consolidation of your student loans, click on the link below.


Where can I learn about student loan consolidation?

You can use Direct Consolidation loans for your student loan consolidation needs. It is a government website that assist those who want to consolidate their debts. You can find them at this link www.loanconsolidation.ed.gov/


Can a wife get a student loan if her husbands student loan is in default?

In the US, yes you can. If you want help with the consolidation of your husband's defaulted student loans, click on the link below.


Can you be put in jail over not getting your cosigner off your student loans?

In the US, no you can not be put in jail. If you want to remove a cosigner from your student loans, then you need to consolidate them in your name alone. You can get help with the consolidation of your loans by clicking on the link at the bottom of this text box.


How do you pay student loans if you are on welfare?

Yes, but you can consolidate your loans and opt for the income-based repayment plan and pay as little as $0 a month, defending on your income and dependants. If you want help with the consolidation of your defaulted student loans, click on the link below.


Have loans from school A didnt graduate - want to go back to finish my degree at school B - would there be loans available for that?

yes sure you can go for student loan consolidation, there are many online sources who can consolidate your student loans with no credit or poor credit and also with low interest rates, try to contact them and get your problem resolved from there.


How do you stop a student loan wages garnisment?

You should consolidate your defaulted student loans and stop the wage garnishment. You can get an income-based repayment plan and pay as little as $0 a month, defending on your income and dependants. If you want help with the consolidation of your defaulted student loans, click on the link below


What are todays most commonly used student consolidation loan rates?

Rates for student consolidation loans can really vary depending on the funding institution you are using for the loan. Rates are also based on your credit score. So make sure you credit is descent if you want lower rates.


What should I do if I want to return to school to become a nurse but I have a defaulted student loan from 1995?

In the US, you can consolidate your defaulted loans and be eligible for new loans in the fall. Click on the link at the bottom of this text box for help with consolidation.


How do you know if a debt consolidation loan is a good idea?

Debt consolidation loans are good for people who are trying to keep track of lots of small bills like maxed out low limit credit cards, or for people with multiple student loans. By putting all the debt under one lump loan, it helps people who were falling behind get control of their debt. A debt consolidation loan is a good idea if after consolidation you have a lower total monthly payment at a lower interest. If one of your loans has a significantly higher interest rate than your other loans, you'll want to exclude it from your debt consolidation and focus on paying it off as quickly as possible. If your debt consolidation loan includes it, your rate will be higher and you will wind up paying more over time.


Who would you contact to receive a student loan consolidation application?

You can contact your loan servicer or visit the website of the U.S. Department of Education to receive a student loan consolidation application. Additionally, some private lenders also offer student loan consolidation, so you may want to explore those options as well.


Will you still be able to attend college if you owe student loans?

Yes, if you are not taking additional loans out you can go back to school. If you do want to take additional loans out, you need to consolidate the defaulted loans first. You can get help with the consolidation at www.defaultms.com