> Debt Consolidation > Read How To Consolidate Student Loans Safely
If you are among the many thousands of college graduates in the United States this year facing the possibility of consolidating your student loans, the following guidelines are for you.
With so many lending companies out there fighting to get your business, you have to find a way to weed out the less reputable and sometimes even fraudulent companies from the good ones.
The guidelines below will help you with this process as well as giving you key points to look for so you are better able to spot the shady organizations from the legitimate student loan consolidation companies in order to protect yourself and your finances from some heavy hits you wouldn?t soon forget. Consolidating your student loans can be a pleasurable as well as advantageous experience if you know what to look for ahead of time.
Before You Consolidate Your Student Loans:
The first point I want to cover before getting into safety issues when consolidating your student loans is to remind you of an option you have with your current student loans that could cancel your student loans altogether. However, this cancellation clause is not available once you consolidate your student loans, that is why I felt it important to mention it now.
Each loan has what is called a student loan forgiveness option which states that if you consider the option of volunteer work, for example, joining for the Peace Corps or working for the US Government in low income positions such as a Doctors or teachers you can have your student loans wiped out completely.
This could be a much better option for you than to consolidate your student loans if that type of work interests you, it?s definitely worth looking into. Ask your current lenders about this valuable option.
There is one other time that you should hesitate before consolidating your student loans and that is if your present loans are close to being paid off. Consolidating your student loans in this case would not be in your best interest simply due to the fact that it will cost you way more money in the long run because consolidating your student loans increases the life of the loan by many years, some as long as 20 to 30 years!
Finding a way to pay off the loans you have now may be more advantageous than to consolidate your student loans would be. Especially in light of the new interest rate hike about to take place on July 1st 2006 that is said to be the largest interest rate increase we have seen yet.
If neither of these options pertain to you then continue reading for the steps to take to Consolidate Your Loans safely
Source: http://www.yodzian.com/html/content/read-how-to-consolidate-student-loans-safely/
movie times serene branson matthew mcconaughey to catch a predator davenport chris hansen ehlers danlos syndrome
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.