hilton p asked:
Can anyone tell me about this terms?
Can anyone tell me about this terms?
4 Responses to “what are student loan consolidation , student loan foregiveness , private student loan consolidation ?”
Something to say?
Debt consolidation is a method where the borrower can consolidate his multiple unstructured debts of higher interest rate with a single loan. In cheap debt consolidation, borrower refinances his debts from a new lender or one of the existing lenders who so ever offers cheaper interest rate and flexible repayment period.
In debt consolidation borrowers deal with only one debt which makes the borrower to relief himself form the high rated multiple monthly installments. Though, borrower is responsible to one easy and affordable monthly installment apart from that he is only answerable to new lender instead of multiple lenders.
The prefix cheap is used with debt consolidation because it reduces borrower’s monthly payments as they are availed at cheaper interest rates. Cheaper interest rate on debt consolidation helps the borrower to save lot of cash which can be used to meet other needs.
Cheap debt consolidation loan can be available in secured and unsecured option. Depending upon the need, borrower can opt for any. If the borrower is in need of larger amount then secured debt consolidation option will be best suited. For availing secured cheap debt consolidation, borrower places some valuable collateral against the loaned amount. In secured debt consolidation borrower can opt for £5,000 to £75,000 for the easy repayment period of 5-30 years.
On contrary to secured, if the borrower is looking for the consolidating smaller debts then he may find unsecured debt consolidation as a better option as no collateral is required against debt consolidation. In unsecured debt consolidation option, borrower can opt for £5,000 to £25,000 for the easy repayment period of 6months to 10 years. Therefore, borrowers who have or who don’t have collateral can opt for the unsecured cheap debt consolidation loan.
Left by Samina G on October 24th, 2009
Student loan consolidation is a great way to combine all of your loans together into one payment. That means if you have more than one loan, you can get them all combined together so you don’t have to make separate payments.
You can read all about loan consolidation here:
Hope this helps!
Left by recentgradtrish on October 24th, 2009
I’m Athena and I work with Student Loans….
consolidation- free federal program that fixes the rates, lowers the payments, and is a single payment.
forgiveness- one of the rights that come along with the student loans. You can have certain amounts of your federal loans forgiven if your a teacher, or a nurse, they can also be forgiven if you become disabled.
private loans- these loans are given based off of your credit score, federal loans are given based off of financial need. Normally you can consolidate these through the bank or lender you borrowed them through, but do not ever combine your federal and private loans in a consolidation because you will then lose all the rights that you have with the federal loan.
The company I work for is Academic Financial Solutions, if you have any questions feel free to give us a call.
Ive left you a couple of websites where you can review your loan history and get some info on loan forgiveness.
866-416-6333
good luck
-Athena
Left by peachez213 on October 26th, 2009
student loan consolidation : Refinancing multiple federal student loans into a single student loan with new repayment terms and interest rate.
private student loan : The private student loans that it arranges come without any burden on a student. Low APR, easy repayment scheme, flexible terms and condition, and quickness of approval are some of the major features of private student loans arranged by it.
For more info :
Left by simson s on October 28th, 2009