Welcome to Student Loans Guide
No Interest Student Loans Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Limit Your Stress - Consolidate Student Loans
from:For most students that graduate from a two or four year degree program and then enter into the workforce, paying back student loans within the 10 year allowable time can be a real challenge. Most students during this first 10 years after graduation will get married, have at least one child, change jobs at least once and will purchase at least one vehicle and most likely a house. All these expenses can be difficult to manage on top of various federal and private school loans that may be outstanding. One major option is to consolidate student loans, which means borrowing to combine your student loans, pay them off, then pay off the remaining single consolidated loan over a longer repayment period.
The option to consolidate student loans is open to most employed graduates or even, in some cases, to students that are still in school but are in some way working to earn an income. To consolidate student loans it is important to consider all your options and to understand how the various interest rate differences on the original and the consolidation loan will compare over the long run. A financial planner, consultant or even your regular banker can help you understand the advantages and disadvantages to consolidate student loans.
Generally the biggest advantage to consolidate student loans is that it takes the multiple payments from different lenders you may have an literally pays off these loans, leaving you with one payment to make to the consolidated loan lender. In most cases, actually in virtually all cases, this one monthly payment will be less than the original multiple payments. The reason that this can happen is when you consolidate student loans the time that you have to repay is significantly expanded, meaning that you have to pay less each month.
The negative to working to consolidate student loans is also related to the repayment stretch. You will have to keep making payments for much longer, which may be up to 30 years, before you will be debt free with regards to the student loans. This means that over the life of the consolidated loan you will pay significantly more in interest, which may be a huge dollar amount if you actually make only the required payments. One way to minimize this interest amount is to make more than the required monthly payment on the consolidated loan, and ensure that the extra payment is going towards the principal. This will rapidly cut payments off the duration of the loan, especially if you start right when the consolidated student loans are put into place.
No Interest Student Loans News
Senate rejects GOP, Dem plans on student loans - The Seattle Times
 Channel 6 News Online | Senate rejects GOP, Dem plans on student loans The Seattle Times By ALAN FRAM Associated Press No comments have been posted to this article. The Senate rejected dueling Democratic and Republican plans on Thursday for averting a July 1 doubling of interest rates on federal college loans for 7.4 million students, ... Statement by the Press Secretary on Student Loan Interest Rate Votes in the Senate Poll: Student Loans Doubling? Reid Offers Grim Outlook On Fate Of Student Loan Bill |
Fitch: Fixed Rate-Private Student Loans Could Spur Growth - MarketWatch (press release)
Fitch: Fixed Rate-Private Student Loans Could Spur Growth MarketWatch (press release) (Sallie Mae) unveiled its fixed-rate loan product, with interest rates ranging from 5.75% to 12.875% based on credit history and underwriting standards and no origination fees. On Monday, Discover Financial Services said it would begin offering private ... |
Grassley rails against 'immorality' of student loan interest rate - Mason City Globe Gazette
Grassley rails against 'immorality' of student loan interest rate Mason City Globe Gazette Chuck Grassley said there is no disagreement Congress should prevent the interest rate on student loans made after July 1 from doubling. “There's no dispute that the rate shouldn't go up,” the Iowa Republican said in a conference call with reporters ... |
Scott Brown, Elizabeth Warren spar over student loan rate vote - MassLive.com
 MassLive.com | Scott Brown, Elizabeth Warren spar over student loan rate vote MassLive.com By Robert Rizzuto, The Republican Following the failure in the US Senate to advance two bills which would have frozen student loan interest rates at 3.4 percent for another year, the debate came home to the Massachusetts Senate race. Warren: US Sen. Brown attacking family heritage |
Student loan 'could land you in court' if you move overseas - Telegraph.co.uk
 Telegraph.co.uk | Student loan 'could land you in court' if you move overseas Telegraph.co.uk By Lois Avery Moving overseas to escape student debt might seem like a sure-fire way to avoid repayments but borrowers could be landed with fines, or even court proceedings, if they don't keep the Student Loans Company (SLC) has said. |