School Loan Consolidation
January 17th, 2010 | 
Author: How Using School Loan Consolidation Can Help You
School Loan Consolidation is a method of combining any outstanding student loans into one, more manageable, consolidation loan. A school consolidation loan will usually have a lower interest rate than that of the student loans it is replacing and the terms of the consolidation loan are generally much more flexible, quite often extending the period of repayment, which, in turn, will lessen the monthly repayment.
Before venturing further into the benefits of college loan consolidation we should look at the reasons why applying for a college consolidation loan is both beneficial and necessary.
Obtaining a good education is an absolute ‘must’ if you wish to succeed in life, especially when in the grips of an economy that makes finding employment even more difficult. Unfortunately, obtaining this education can cost a substantial amount of money, this is especially the case in the United States.
The cost involved in obtaining the best education possible often mean that a student will have to take out a loan to finance their future (education). It is often the case that this initial loan will not even come close to covering a complete education and more loans will be required, which will inevitably lead to a large student loan debt which will need to be paid back once the student has graduated.
It is hardly suprising that lenders eagerly hand out these loans in what seems an unparallelled showing of generosity, but this generosity soon dissipates when graduation day begins to loom and the reminders of obligations to pay back monies borrowed start to arrive in the mailbox.
A student can be forgiven for concentrating on their education rather than the debt they’re amassing whilst gaining it, but the realization of their predicament soon hits home with that first reminder of their obligation to repay. The anxieties and stress related to achieving necessary qualifications are replaced by a whole new set of monetary worries as managing repayments to several lenders can be difficult initially. This is when a school loan consolidation program can be extremely beneficial.
For eligibility for a particular school loan consolidation program there are certain requirements that must be satisfied. Firstly, all existing information about the student loans to be consolidated must be submitted. Information relating to student loans obtained from Federal institutions are easy to obtain because details of these loans can be found under certain collective databases.
If a single lender has been used for providing of all of a student’s loans, this lender may also provide a student loan consolidation program that could be taken advantage of. This will also simplify the process as any necessary paperwork will be easily accessible, not to mention that it will require much less legwork on the applicant’s behalf.
Ii is very important that when considering school loan consolidation programs that the companies providing the service is fully checked out and the authenticity of any offers made are verified as there are a growing number of companies that will sell you deals that will actually cost you a lot more than if you didn’t consolidate in the first place!
An easy way to recognize one of these ‘scam’ companies, is if fees are requested even before an application has been approved, but by performing certain checks, as mentioned previously, it is relatively easy to avoid falling into trouble.
We hope this article has provided an initial insite into how consolidation can benefit you and how best to go about sourcing the best information and deals that are taylored to your personal needs and situation.
Posted in School Loan Consolidation | 
Tags: School Loan Consolidation, Student Debt, Student Loan Consolidation | 
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How do you feel about “Forgiving Student Loan Debt” as a stimulus package?
http://www.forgivestudentloandebt.com/
Personally I think it is outrageous. These college grads are more sheep at the trough looking for a Obama handout. They claim that if they do not have to pay back their loan debt it will allow them to pay more into the economy. Yeah…pay more into the economy so they can buy themselves new cars, houses, TVs…. A stimulus is supposed to create jobs while at the same time improving our country. And on top of that, why should our government pay for someone’s degree (at the expense of taxpayers) when that person can use that degree to gain employment that others can’t ! ?
I first heard about this because the person renting my condo is 75,000 dollars in debt (architecture degree) and is paying as much on their debt as they do on their rent (for 10 years). He makes considerably less than I do and I never went to college but did an electrical apprenticeship instead. He started telling me how Obama should forgive his debt so that he can afford to buy a house and save for retirement. What a joke. He is more than willing to flash his degree around whenever possible, but the truth is that degree has left him with a considerable deficit.
I do think most colleges are an overly expensive “academic certificate” that generally teach low-value skills. We need to start pushing towards more vocational training and apprenticeships supplemented with a few college courses.
Credit Card Debt Reduction
One last time, can student loan debt be forgiven / removed by leaving the country ?
Ok , maybe I should ask this question in a little different manner …..
I am leaving this country, I have not bought the tickets yet or told my manager about this yet. I want to leave this country for at least next 5 years.
Why ? well because I want to do something different in life. I want to become a hindu priest for which you have to take about 4 to 5 years of training and live a simple life away from all these cars, pleasures and stuff.
my question is – how and what should I do to get rid of my student loans – as they are the only reason I won’t be able to do what i want to do so badly. and yes I have a co-signer (he also is willing to leave the country for me) – i have about 60k of loans.
LAST BUT NO LEAST, I may come back to US after my training but its not 100% decided yet.
Please give me some good advice considering this is a very different special case !!!!! 
Thank You.
Consolidate Credit Cards
Credit Score of 531 – Delinquent Accounts – $25,000 unsecured debt – $12,000 Student Loans – Bankruptcy?
I haven’t been able to pay on anything for about 9 months so my credit plummeted. However I did pay on time for 8 years straight before I lost my job and couldn’t pay for those 9 months. Now I have a new job and I will be grossing about $28,000. Should I declare bankruptcy to get rid of my $25,000 credit card debt and then try to build my credit back up by paying my student loans on time (I am still in the grace period on them right now)? Or should I try to pay the $25,000. Which would be better or my credit in the long term? I’m still young (mid-20′s) so I wouldn’t be looking to get a mortgage or anything for 10 years or so anyway.
College Student Credit Card Debt
How do you feel about “Forgiving Student Loan Debt” as a stimulus package?
http://www.forgivestudentloandebt.com/
Personally I think it is outrageous. These college grads are more sheep at the trough looking for a Obama handout. They claim that if they do not have to pay back their loan debt it will allow them to pay more into the economy. Yeah…pay more into the economy so they can buy themselves new cars, houses, TVs…. A stimulus is supposed to create jobs while at the same time improving our country. And on top of that, why should our government pay for someone’s degree (at the expense of taxpayers) when that person can use that degree to gain employment that others can’t ! ?
I first heard about this because the person renting my condo is 75,000 dollars in debt (architecture degree) and is paying as much on their debt as they do on their rent (for 10 years). He makes considerably less than I do and I never went to college but did an electrical apprenticeship instead. He started telling me how Obama should forgive his debt so that he can afford to buy a house and save for retirement. What a joke. He is more than willing to flash his degree around whenever possible, but the truth is that degree has left him with a considerable deficit.
I do think most colleges are an overly expensive “academic certificate” that generally teach low-value skills. We need to start pushing towards more vocational training (I know liberals **** that because it would mean less people will be “liberal educated”). But its the truth.
“Don’t be jealous that somebody got more benefits than you did.”
Wait a second. More benefits than me? I could have gone to college. Instead I enrolled in a union apprenticeship and have NEVER been in debt in my life. My retirement has been building up since I was 18, I have “cadillac” health-care, own several pieces of investment property, and max out my ROTH IRA every year. All because I avoided the “benefits” of college.
Bad Credit Debt Consolidation
Family member who is disabled.w/ student loan debt – Just asked this but needed to expand on my question:?
(Deleted question due to hacked link – After full scan, I am resubmitting question)
My family member was hit head-on by drunk driver (in 1978). Complications of frontal lobe brain injury have developed into bipolard disorder and severe mental impairment (SMI). All these years he has tried to stay employed, but he cannot keep jobs any longer. Frontal lobe brain injury affected his ability to concentrate and understand social behavior, etc. In 1982, impulsively, he took out student loans, could not cope with school demands and dropped out. The family did not know (until now) he had taken out student loans from some For-Profit-School (loan sharks if you ask me took advantage cause his injury is very obvious). He became homeless in 1994, and just ignored the student loans. He moved to another state, and was able to find odd jobs all these years. With aging, the effects of his injury made it impossible for him to handle working any longer. He lost his last job 2 years ago because of behavior issues. He was advised via medical/psych care to apply for disability. All of the sudden, Dept of Education calls him wanting $75 per month to repay loans (why did they not contact him before when he was working!!!!). He wants to repay, but even if he gets disability it will be @ poverty level.
Can he still apply for discharge. Also, I could not find information about Income Contingent Plan in the student aid website.
School Loans Consolidation