Categorized | , ,

Consolidated Student Loan Refinancing

Student loan debt consolidation is a strategy that allows a student to combine all his loan debts into a single loan, with one monthly payment. Student loans are classified into federal student loans and private student loans. Federal student loans are issued by the US Department of Education as well as the Department of Health and Human Services, and private student loans are administered by the non-federal organizations and other private lenders.

Student loan debt includes all kinds of educational expenses incurred by a student to complete his studies. Most students leave college with large debts. In student loan debt consolidation, the existing loan is paid off either by the US Department of Education or other private and non-federal organizations, depending upon the nature of the loans. A new loan is created with one monthly payment stretching over a period of time. However, consolidation rules and regulations are different for federal student loans and private student loans.

When federal student loans are consolidated, it lowers the monthly payment by up to 60%. Low fixed interest rates and retention of subsidy benefits are other benefits of federal student loan debt consolidation. The interest rate of the federal student loan consolidation is the weighted average of interest rates of all loans that have been combined. In the case of private student loan consolidation, lenders fix the interest rates. Further, private student loans are not consolidated with federal student loans.

Student loan debt consolidation has become quite popular in recent years, as it avoids the problem of paying off several separate bills every month. Today, there are a number of student loan consolidation services and centers, including banks participating in the Federal Family Education Loan (FFEL) program, to cater to the student loan debt consolidation needs. Student loan debt consolidation services are also available through the Internet.



0 Responses to “Consolidated Student Loan Refinancing”

Post a Comment

Gazette Edition

Labels

Acer Predator Alfamart Alfamart Minimarket Amazing Spider-Man American Idol Android Angry Birds Anti Spam Apple Apple iCloud Apple iPhone Atlantis Bahama Reviews Audio Forensics Bali Tour Berita Ciamis Beyonce Blackberry Blogger Blogger Templates Boy Toys Call of Duty Camera Career Celebrity News Chi Magazine Christmas Christmas Eve Christmas Gift Ciamis Computer Data Recovery Dating Desktop Computer Direct Download Drupal Templates Earthquake Elevenia end of the world end of the world 2011 end of the world may 21 Facebook Forbes Formula 1 Fortuner SUV Terbaik Friendster Gadget Gaming Gifts Google Gossip Green Lantern Hack Halloween Hangover 2 Hangover 2 Trailer Hangover Symptoms harold camping Healthy Life Home Remedies Honeymoon Hot News How to Play Guitar HTC Trophy iCloud Info Insurance Internet iPad iPad 2 iPhone iPhone 4S iPod Jasa Pembuatan Toko Online Jasa Pembuatan Website Jauh Mimpiku Jessica Simpson Jewelry Job Vacancies in Singapore Johnny Depp Judgment Day Justin Bieber Kate Middleton Kate Middleton Bikini Kim Kardashian Kung Fu Panda 2 Lego Leisure LG Revolution VS910 Lifestyle Loans Lowongan Kerja Terbaru Mac OS X Lion Macbook Pro 2011 Marco Simoncelli may 21 2011 Men in Black 3 Mesothelioma Mesothelioma Lawyer Meteor Hits Russia Meteor Russia Minimarket Mobile Stuff Mobilephone Modern Warfare 3 MotoGP Movies Music Nadya Suleman Newport Beach News Notebook Octomom Opera Mini Optimus Prime OS X Lion Personal Loans Pink Eye Pirates of the Caribbean 4 President Obama Quotes Recovery Service Refinancing Review Sega Selena Gomez SEO Tools Smartphones Soccer Software Spider-Man Sports Stuff Swimmers Ear Home Remedy Symbian Tablet Technology The Dark Knight Rises Tips and Tricks Toko Online Tom Hardy Tools Toy For Christmas Trailer Transformers Traveling Twilight Zone Twitter Valentine Weather Web Design Melbourne Web Hosting Weight Loss Will Smith. Josh Brolin Wordpress Templates World News YouTube
Copyright 2011 Today Infolicious Inc. - Songs.pk