Welcome to Student Loans Guide
Dept Of Education Student Loans Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Limit Your Stress - Consolidate Student Loans
from:For most students that graduate from a two or four year degree program and then enter into the workforce, paying back student loans within the 10 year allowable time can be a real challenge. Most students during this first 10 years after graduation will get married, have at least one child, change jobs at least once and will purchase at least one vehicle and most likely a house. All these expenses can be difficult to manage on top of various federal and private school loans that may be outstanding. One major option is to consolidate student loans, which means borrowing to combine your student loans, pay them off, then pay off the remaining single consolidated loan over a longer repayment period.
The option to consolidate student loans is open to most employed graduates or even, in some cases, to students that are still in school but are in some way working to earn an income. To consolidate student loans it is important to consider all your options and to understand how the various interest rate differences on the original and the consolidation loan will compare over the long run. A financial planner, consultant or even your regular banker can help you understand the advantages and disadvantages to consolidate student loans.
Generally the biggest advantage to consolidate student loans is that it takes the multiple payments from different lenders you may have an literally pays off these loans, leaving you with one payment to make to the consolidated loan lender. In most cases, actually in virtually all cases, this one monthly payment will be less than the original multiple payments. The reason that this can happen is when you consolidate student loans the time that you have to repay is significantly expanded, meaning that you have to pay less each month.
The negative to working to consolidate student loans is also related to the repayment stretch. You will have to keep making payments for much longer, which may be up to 30 years, before you will be debt free with regards to the student loans. This means that over the life of the consolidated loan you will pay significantly more in interest, which may be a huge dollar amount if you actually make only the required payments. One way to minimize this interest amount is to make more than the required monthly payment on the consolidated loan, and ensure that the extra payment is going towards the principal. This will rapidly cut payments off the duration of the loan, especially if you start right when the consolidated student loans are put into place.
Dept Of Education Student Loans News
Rep. Brooks: State House Summary - The Chattanoogan
 The Stir | Rep. Brooks: State House Summary The Chattanoogan Governor Bill Haslam today lauded the approval by US Department of Education officials of Tennessee's waiver request from certain portions of the federal No Child Left Behind Act (NCLB). Tennessee was the first state to request a waiver and was one of ... Haven't We Learned Something Good From the Department of Education? AP News in Brief at 8:58 pm EST |
Local students struggle less with debt - Houma Courier
Local students struggle less with debt Houma Courier Among Nicholls State University students who started repaying loans in 2009, for example, only 88 out of more than 8000 students, about 6.5 percent, were in default, according to the US Department of Education. That's less than the national average of ... |
Class Notes: Science Fairs, Student Loans and More Education News - TIME
 TIME | Class Notes: Science Fairs, Student Loans and More Education News TIME By Kayla Webley | @kaylawebley | February 9, 2012 | + All but one of the states that applied last fall for relief from No Child Left Behind (NCLB) have been granted waivers from the Department of Education. The waivers will allow states to escape some ... |
For college-bound, a look at aid changes - Cherry Hill Courier Post
For college-bound, a look at aid changes Cherry Hill Courier Post In other cases, interest rates and other loan terms are not spelled out. Officials say this could lead to students taking on more debt than they realize. The Department of Education and the newly created Consumer Financial Protection Bureau announced ... |
Student Loan Debt Woes Fuel Bankruptcy - Investor's Business Daily
 Reynolds Center | Student Loan Debt Woes Fuel Bankruptcy Investor's Business Daily Student-loan debt, now totalling $1 trillion, has surpassed credit-card debt. About 80% of that is federal student-loan debt, while only 20% is private debt. According to the Education Department, student-loan defaults climbed to 8.8% in 2011, ... Are Student Loans the Next Debt Bomb? Is student-loan debt the next economic crisis? |
Former College Students Drowning In Loan Debt - WRTV Indianapolis
Former College Students Drowning In Loan Debt WRTV Indianapolis Indiana has the third-highest student loan default rate in the country according to the US Department of Education, Call 6 Investigator Kara Kenney reported. The average Hoosier graduates from a four-year college owing $27001, putting Indiana eighth in ... |
Kentucky bill targets teachers for student achievement - World Socialist Web Site
Kentucky bill targets teachers for student achievement World Socialist Web Site The bill is part of a larger effort by the US Department of Education that seeks to scapegoat teachers for a crumbling socio-economic system. The US Department of Education is pressuring states to create “initiatives” that will factor in student ... |
For college bound, a look at financial aid changes - Boston.com
 TribLocal | For college bound, a look at financial aid changes Boston.com In other cases, interest rates and other loan terms are not spelled out. Officials say this could lead to students taking on more debt than they realize. To address the issue, the Department of Education and the newly created Consumer Financial ... Savvy Consumer: Applying for financial aid just got a little easier Fill out financial aid form on College Goal Sunday Mexico High School to offer 'FAFSA Frenzy' opportunity |