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Published:Wed, 04 Apr 2012 00:53:07 -0700
UCLA’s Student Financial Services has recovered almost all of the about $27 million in duplicate financial aid distributed to more than 7,000 students last week.......
Published:Wed, 04 Apr 2012 06:13:26 -0700
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Published:Wed, 04 Apr 2012 19:55:37 -0700
Current and prospective Illinois college students filing their Free Application for Federal Student Aid (FAFSA) after March 19 and hoping to receive financial aid for the upcoming......
Published:Wed, 04 Apr 2012 18:01:02 -0700
Front Range Community College student Ted Nischan has settled his debt with the city of Fort Collins.......
Published:Wed, 04 Apr 2012 10:15:55 -0700
Two people have pleaded guilty to submitting fraudulent applications to the Free Application for Federal Student Aid program.......
School Loan Consolidation
The Higher Education Act (HEA) provides for a School Loan Consolidation Program through either the Federal Family Education Loan (FFEL) Programs or the Direct Loan Program.
These Federal School Loan Consolidation programs allow your Government Student Loans to be paid off and a new student consolidation loan is created.
These programs simplify your student loan repayment by combining several types of Federal student loans into one loan.
These combined loans may have been made by different lenders and may have different terms and payment schedules.
The new college loan interest rate may be lower than one or more of the original loans. In addition, the monthly payment amount on a school consolidation loan is usually lower and the amount required for paying back your student loan may be extended beyond what was available in the separate loan programs.
These features should result in more manageable student debt and should make you less prone to default on your student loan.
The consolidation of college loans may be your best option for getting a handle on your student loan debt. We suggest that you look at many options before you make a final decision. Remember to take into account the interest rates, the terms for paying back your student loan and any student loan rebates.
Make your college education any enjoyable time. Plan ahead, research your financial options, watch your spending and don't get so deep in debt that you will regret the decisions that you have made. Spend some time visiting the different websites so that you can make better informed and smarter decisions.
