Home » Finance » Debt Consolidation

Consolidate Debt Loans For Your School Debts

Jan 13, 2008
Are you a student with school loans that are getting you stressed out? Or contemplated upon consolidate debt loans to some or all your school loans?

Everyone needs to borrow money at some stage in their life. Just make sure you do it sensibly to avoid any debt management problem later on. A lot of people make the mistake and wasted money because they did not do a due diligence or research on what is the best offer that is available in the market. By researching thru the web (Online) that little amount of time you will be doing could save you a bundle in terms of much more lower interest rate on a consolidate debt loans.

Here are some factors you should consider when deciding if a school consolidation loan is right for you.

Are too many monthly payments stressing you out? If you are making more than one or two payments every month to a lender and want the convenience of one monthly payment, then school consolidation loan may be the right one for you. If you are in the U.S., you can obtain a direct consolidation loan. With direct consolidation loan, you will only have to make a single monthly payment with a single lender- the U.S. Department of Education.

Are you stressed out trying to manage your monthly payments? If you have a hard time trying to manage your monthly payments and have exhausted your forbearance and deferment options, and/or want to avoid default on your school loans, school consolidation loan may help you.

Again, a direct consolidation loan may be a better option.

Consider how much you are willing to pay over the long term- for the life of the loan. Always remember, like a car loan or a home mortgage, extending the years of repayment period, increases the total amount you have to repay. The shorter the term the faster you will be able to repay your school loans.

Do not consider a school consolidation loan if you are close to paying off your student loans. It is not worth your time to consolidate and extend your payments.

Consider what the interest rates on your student loans are. If you have variable interest rates on your federal education loans, you may want to consolidate. The interest for a direct consolidation loan is fixed for the life of the direct consolidation loan. The rate is based on the weighted average interest rate of the loans being consolidated, rounded to the next nearest higher one eight of one percent and cannot exceed 8.25 percent.

School consolidation loan could be your saving grace if your monthly payments are driving you crazy and stressing you out. But before you dive into it, school consolidation loans can be obtain from many financial institutions, so do your research on which best suits your lifestyle and ability to manage it efficiently and properly. And avoid getting deeper into debt.

In conclusion, school consolidation loan is good but direct consolidation loan for your school debts may be better. So, for any other debt burden, consolidate debt loans.
About the Author
For guidance and information on your school consolidation loan and to consolidate debt loans to ease the burden of debt payments.
Rating:
Please Rate:
(Average: Not rated)
Views: 136
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources