Array

Obama’s Debt Consolidation Loans – Do They Really Exist?

Must Read

Mobile Phone Client Applications

The physical properties of all mobile phones as a platform for building client applications apply certain limitations to the...

Student Loan Consolidation Services – Using Them To Pay Off Debt

When students graduate from college, they start thinking about how to pay back their loans that financed their cost...

Is There a Difference Between Home Equity Loans, Lines of Credit and Second Mortgages?

Both a Home Equity Line of Credit (HELOC) and a Home Equity Loan are methods used by home owners...

You Can Save Big Money on Your Student Loan Payment – But Hurry!

Student Loan ConsolidationYou worked hard. You studied late nights and spent hours in the library doing research. You took...

Student Loan Debt Consolidation

If you are a Student with a number of Debts from different sources and are having difficulty keeping on...

Taking your First Research Steps

1. Monitor the business environment You should be keenly aware of factors which influence your industry, and monitor the effects...
Admin
test

During economy crisis, the Obama’s administration has put in hard effort in assisting the citizens to go through their financial hardships. One of the most popular financial solutions introduced is the debt consolidation loan for students. Seriously speaking, many people have misunderstood this type of loan. They thought that this loan can be applied to pay back all sorts of personal debts, including credit card debts. In fact, this particular loan is only meant to reduce the students’ burden in paying back their study loan.Let’s see how this financial assistance works:
If you have few federal student loans, you can lump all of them into one single loan which is called the Direct Loan Consolidation Program. You can enjoy a much lower interest rate offered by the government. Besides, you can make your repayment plan more flexible. You are allowed to reduce your monthly repayment amount based on your financial ability. This loan can be considered a debt relief program because the fresh graduates are allowed to extend the duration of their repayment if they are currently unemployed.On the other hand, you must be extra careful if there is any financial consultant or representative from private financial institution who approaches you to promote debt consolidation loan. Do not get trapped by them. Until today, there is no such government loan provided to individuals to assist them to pay off their credit card debts or other personal loans. No special financial aid or grant is offered to the public. Hence, if someone introduces this financial assistance to you, you must remember to SAY NO. They are definitely scams.To sum up, there is no more government loan offered to public except consolidated student loan. Don’t be too happy to accept the loan if it is meant for credit card debt.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Digital Marketing for Beginners

Digital marketing for starter, Let to basic learning about connecting with your audience in the right place...

What are 7 things poor people do that the rich don’t?

1. poor people watch TV in which people read books how many hours you spend in front of the TV and when...

Top 18 best small business ideas for beginners starting

A small business can be frightening and requires plenty of careful planning there are many small business ideas which can be beneficial...

Summer that makes you happy

We saw were already here I've been thinking about some of the things. I used to do with my husband even though...

4 Point to helpful tips specifically for caregivers

What you need to take a vacation. I know it sounds impossible creative and try to make it work for you almost...

More Articles Like This