Student Loan Consolidation Tips and Resources

Must Read

Affiliate Marketing Guide

When people decide to get started in internet marketing, the first thing they should do is find themselves a...

The Pro’s and Con’s of Debt Consolidation Loans

You are swimming in debt. You have 4 credit cards maxed out, a car loan, a consumer loan, and...

Passwords & Secrets (Encryption & Observable Collections)

Passwords & Secrets is a notepad-style app that you can protect with a master password. Therefore, it’s a great...

Student loan consolidation can provide financial relief to graduates carrying multiple college loans. Graduates can consolidate both federal and private education loans to reduce interest rates and monthly payment amounts.Most people use student loan consolidation to eliminate multiple payments. This can be particularly helpful for medical and law school graduates who often have six or more loans. Upon graduation, students must allocate funds to cover each installment as well as keep track of multiple payment dates. When post graduates submit late payments they are subjected to late fees and run the risk of damaging their credit rating.There are several factors to consider when consolidating college tuition loans. It is a good idea to conduct research or work with a financial consultant to weigh the pros and cons of college loan consolidation. The Internet can be a good source for understanding the intricacies of consolidating loans, as well as to shop and compare lenders.Students with both subsidized and unsubsidized loans will have different needs than graduates carrying one type of financing. Although subsidized and unsubsidized loans can be consolidated, lenders must consolidate the two using two separate loans in order to track payment transactions. However, borrowers will have one monthly payment and lenders contribute appropriate amounts to each account.Graduates must meet lending criteria in order to consolidate federal student loans. Eligibility criteria involves having an adequate FICO score; paying three loan payments in full; being current on all loan payments; and waiting six months from the date of graduation before applying for a consolidation loan.Post graduates with Sallie Mae financing must apply for consolidation loans through a conventional lender. At present, Sallie Mae is no longer participating in the federal loan consolidation program due to legislative cuts made by Congress.Students with Sallie Mae education loans can obtain counseling with a repayment specialist to find out which refinancing options exist. Student loan payment program details are provided at borrowers consolidate education loans they must apply for a new loan to pay off outstanding student loans. Nearly all private and federal loans can be consolidated including: Perkins, Stafford, Direct, Guaranteed, and Health Professional.The U.S. government offers a sponsored student loan consolidation program for graduates who obtained financing through Direct Loans. This program is a good choice for students with bad credit because applicants are not required to undergo credit checks. Program details are provided at, but not least, post graduates should research loan consolidation alternatives such as forbearance programs, tuition deferment, and student loan forgiveness. Debt forgiveness programs are available to graduates who hold degrees and obtain employment in public service fields such as education, medical and law. Loan consolidation alternatives are presented at


Please enter your comment!
Please enter your name here

Latest News

Underlight As Accent, For Power and The Main Light for Photography

Underlighting, in which fill or accent light comes from under the topic, is not widely used technique in the traditional Portraits,...

How To Fix Overexposure As A Creative Tool, The Complete Guide

As an creative tool, overexposure is sort of underrated. What I’m close to propose could be a deliberate and well thought out technique for...

7D Mark II is Canon’s best DSLR cameras without full-frame sensor.

The expected long-awaited Canon EOS 7D Mark II are shipping in November for $ 1,799 without a lens. With a higher price tag, you...

Low key photography and How to isolate your subject.

Low key photography doesn’t depend on underexposure to make its point; the key to low key is that the majority of tones, even correctly...

High Key Lighting Techniques for Professional Photographers

I’ve written many times about high key lighting techniques and how to achieve them. The term “high key” is a bit misleading. As I’ve...

More Articles Like This