Saturday, June 9, 2012

Student Debt Consolidation Loans

Student Debt Consolidation Loans

Students need money for Various Purposes Like
Books
Tuition fees
Clothing
Research

Entertainment

Once they start taking loans there is high probability that students can get tangled in loan trap
here Student Debt Consolidation Loans come into Picture .
Federal Family Education Loan (FFEL) Programs and the Direct Loan  Program  have one act to rescue .The Higher Education Act (HEA) provides for a loan consolidation program  .

In these        programs, All old Loans are paid to create a new consolidation  loan .

Advantages of Student  Debt Consolidation Loans

One Loan term
one interest Rate
lower interest rates
 monthly payment
manageable debt
less        probability to default.
Extend  repayment term to up to 30 years with some lenders
Retain federal borrower benefits
Flexible repayment options with most lenders

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