Stafford Loan Consolidation
Stafford Loan Consolidation
A Stafford Loan, which can help to finance your way through a college or university, comes in two forms:
Subsidized Stafford Loans
A subsidized Stafford Loan, which you can receive based upon your specific financial aid. When a Stafford loan is subsidized, you are not required to pay any interest on the loan while you attend school. The federal government subsidizes the interest accrued on your account while you attend school and does not charge you interest until you finish school.
Unsubsidized Stafford Loans
An unsubsidized Stafford Loan, which you do not receive based upon your own specific financial aid. Rather, you can receive this type of loan but must pay interest on the loan even as you are still taking classes and enrolled in school.
Two Different Stafford Loans?
Often times, college and university students find that Stafford loans will be dispensed to them both as subsidized and unsubsidized loans, meaning that part of the loan will be subsidized and part of it will not. As they move through college, this means that they are paying interest on the loans, or simply allowing the interest to build up over time.
How To Consolidate Your Stafford Loans
Student loan consolidation can help you to combine the two types of loans into one low monthly payment that makes it easier and quicker for you to pay off your college loans. You have the ability to find a loan consolidation company, who will then work with you to take all of your Stafford loans, both subsidized and unsubsidized, and place them into one central loan that can then be paid off over time.
How exactly will this help to save you time and money? For starters, you will only be paying interest on one loan, rather than two, and by consolidating your loans, you can often achieve more favorable interest rates on your debt. In the end, this will allow you to save time, money, and frustration that comes with paying off loans over long periods of time.
This article is distributed by NextStudent. At NextStudent, we believe that getting an education is the best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more about how to get Stafford Loan
Consolidation at http://www.NextStudent.com.
My goal is to help every student succeed - education is one of the most important things a person can have, so I have made it my personal mission to help every student pay for their education. Aside from that, I am just a pretty average girl from SD.
Debt Reduction Solutions
Finding solutions to reducing your debt takes some thinking and research on your part. You have some good choices available to you and we shall list these key debt reduction solutions for you right here:
The Pros and Cons of Debt Consolidation Loans
You are swimming in debt. You have 4 credit cards maxed out, a car loan, a consumer loan, and a house payment. Simply making the minimum payments is causing your distress and certainly not getting you out of debt. What should you do?
Debt Consolidation: Friend or Foe?
Debt consolidation has become big business in this country over the last several years. Consumers with the good conscience to avoid filing for bankruptcy are turning to debt consolidation in hopes of saving their credit and getting out of debt sooner. But is it really necessary to turn to a debt consolidation company? Critics of the programs offered through most debt consolidation companies would, of course, tell you no.
Whats the Difference Between Debt Settlement and Debt Consolidation?
The Debt Settlement process involves negotiating with your creditors to settle your debt for amounts significantly less than you currently owe; typically debt settlement can settle your debts for 40-60% of your current balances. This will save you sizable amounts of money on debt principal and interest. It also provides you with the opportunity to pay-off your debts faster.
What is the Difference Between Unsecured and Secured Debt?
A secured debt is a debt in which the creditor maintains a security interest in an item or piece of personal property such as a house or an automobile. With secured debts, if you fall behind on payments, the lender can repossess the property that originally secured the debt. An additional drawback to secured debt is the fact that you may remain liable for the deficiency balance owing on the debt after your property has been repossessed and sold.
Considering Debt Settlement? What You Should Know
Your credit card bills are stacking up and for whatever reason you don't have the means to pay the debt. You definitely have choices when you are in this predicament. You can choose to do nothing and hope for the best. Unfortunately, this can cause you a bunch of headaches because creditors will pursue you with unrelenting fervor. When the creditor gives up, they will generally pass the account over to a collection agency. Their pursuit is even more relentless because in most cases they have purchased your account. If you choose to do nothing, prepare yourself for many sleepless nights. There are alternatives that are less stressful and that can get you out of debt.
Debt Consolidation: How it Works
As long as consumerism flourishes most of us will be tempted to overspend thus creating a financial bind. While some people do manage to get themselves out of debt others, for a number of reasons, including job loss, divorce or hospitalization cannot. In these instances bankruptcy may seem the only way out, but for homeowners there are other options. Debt consolidation is one such option.
Consolidate Debt to Help Get You Out of the Quagmire
Will you agree with me if I tell you that, the key to financial success is to live within your means? This is an old belief that modern day income earners have completely forgotten. This is because it is now extremely easy to get into financial trouble. Credit card, store cards and other loans are easy to acquire. However, you will agree with me when I say that they are very hard to pay, you may end up living a paycheck-to-paycheck kind of life if you will not fix the situation immediately.
Debt Consolidation Loans: Thousands Now Out Of Debt, Who Never Thought They Would Be!
A Debt consolidation loan: Is a personal loan you use to pay all your debts. You may odtain it from a finance company, bank, credit union, debt consolidation company, merchant association, debt pooling service, or nonprofit consumer debt service. You may also borrow from friends and relatives.
Individual Voluntary Arrangement IVA, an alternative to bankruptcy
Individual Voluntary Arrangement, IVA is an alternative to bankruptcy - which could provide you with a real solution to your debt problems.
Cutting Your Monthly Outgoing With Debt Consolidation
With consumer debt on the rise, many people have found themselves burdened with crippling monthly repayments on a variety of loans. This can make life very difficult, and can often means seriously compromising on your quality of life. Taking out a debt consolidation loan can help to ease this problem by enabling you to wrap up all of your loans and credit cards into one loan. By doing this, you will benefit in a number of ways, including:
Planning To Become Debt Free With A Consolidation Loan
If you have multiple debts, and are struggling to meet the monthly payments, then there's a good chance you will want to consider, now or later, a consolidation loan to become debt free.
Getting Your Best Deal on a Consolidation Loan
If you find yourself having to make too many payments a month, you might consider getting a consolidation loan.
Re-Mortgages ? There?s Help For Bad Credit Ratings On The Way
As any report on the subject will reveal, million of UK consumer are staggering through life under the weight of poor credit scores as a result of County Court Judgements being issued against them.
Debt Consolidation ? Options for Reducing Your Debt
Studies show that Americans are now saving less than ever before. Along with that, Americans are carrying a heavier debt load than ever. It's easy for a home loan, a car loan and a few credit card bills to get out of hand, and many people are struggling with more debt than they can easily pay. To make matters worse, new bankruptcy legislation will make it harder than ever to file bankruptcy for those who simply cannot pay their bills.
Debt Consolidation Makes Sense Only with Low Interest Rates
Credit that cannot be managed or is not being repaid requires debt consolidation. Debt consolidation offers borrowers with a chance to repay their high interest loans at low interest rate. You must be thinking, 'it sounds good, but how is it possible.' How can high interest loans repaid at low interest.
Debt Consolidation Confusion
Learning about debt consolidation can be quite a confusing venture for your average person. There is plenty of conflicting information to be found about debt consolidation. If you have explored debt consolidation as a solution to your financial stress then this is probably not news to you.
How To Get Rid Of Debt Problems Step 1 -- How To Deal With Your Creditors
However far you are along the road of financial/debt problems,the same principles apply to dealing with your creditors.
When Your Bills Are Piling Up Here Are 6 Different Ways to Consolidate
When it comes to debt consolidation some people dream of day when all their bills will disappear. Next to hitting the jackpot, a debt consolidation loan is some times the only way out for a debtor. No more playing "pick the bill out of the hat" to see who gets paid, all you have is one affordable check to write each month and pretty soon the balances quickly disappear. WAKE UP! Come back to reality, it isn't quite that easy, however if you do it right it works pretty well.
Credit Card Blues
For the average American family, debt, and especially credit card debt is spiraling out of control at a record pace. The average household credit card debt has risen dramatically from $3000 in 1990 to over $8000 today. Personal bankruptcies are also at an all time high, prompting Congress to consider a radical bankruptcy law overhaul, designed to weed out those who are merely taking advantage of the system loopholes while directing many to more palliative alternatives such as a debt management program.
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