Government Student Loan Consolidation by cmlang

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									by: Mark Lambie

Are you behind on your bills? Do you have more than one student loan? If you answered yes to
either question there are some terrific opportunities for you to lump your debt together with a
government student loan consolidation. Please read on for more information.

When you graduated from school, more than likely your first job was low paying and your
expenses were high. It is not that uncommon for students to rack up bills of 30, 40, or 50
thousand dollars or more in debt, just to the school. Car payments, credit cards bills, and
everyday expenses can push your debt levels up through the stratosphere. Time to think of
getting some help. Time to consider government student loan consolidation.

What is government student loan consolidation exactly? It is a loan which allows for you to take
multiple student loans, pay them off, and make monthly payments to just one lender. Why can
this be a good option for you? Well, if you have four loans to four different lenders due at four
different times of the month, it can seem as if you are always paying someone back for your
schooling. Also, try keeping track of all this with your hectic schedule. Between work, family,
friends, and all of life's responsibilities wouldn't it just be easier to have one simple payment to
make? Yes, it would.

Another good thing about a government student loan consolidation is that you may be able to
lower your interest rate, extend your repayment time, and take out little extra money to pay back
other creditors. Maybe you have a credit card payment running you 19% interest. If you got a
loan at a rate for half that rate, you would save money, right? Yes, you would.

Where do you go to for a government student loan consolidation? Search the internet! Leading
companies are advertising their services to consumers and they are anxious for your business.
Shop around and find the consolidation loan that is best for you. Some things to keep in mind:

1. Loan Amount. Will the company pay off all of your student loans, or a portion of what you
owe? They may want to see pay stubs and other proofs of income first.

2. Loan Rate. Will loan rate be fixed or will it be variable? You may want to lock in a long term
fixed rate to assure that your monthly payments remain stable.

3. Loan Term. Can you deal with paying back a your government student loan consolidation for
as long as twenty years? Are there any prepayment penalties? What if you were to default on
your loan? What then?

All in all, you have options to pay off your student loans that generations never had before. A
government student loan consolidation may be right for you.

This article was posted on October 01, 2005

								
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