Veterans Benefits

Find Free Veterans Benefits Information. Apply For Your Veterans Benefits.

Va School Loans

Some facts about consolidating student loans

With increased demand for better education, the college and school fees have also increased. As a result, most students have huge student loans by the time they complete their studies. Most federal education loans offer an option that may reduce the burden of student loans.

The following loans come under consolidation criteria:

1) Subsidized government student loan.

2) Unsubsidized government student loan.

3) Federal Nursing Loans.

4) Federal Perkins Loans.

5) Health Education Assistance Loans.

Always keep in mind that Private student loans do not fall in this criterion.

Government Student Loan Consolidation allows you to combine all federal student loans with one monthly payment. One monthly payment after the consolidation of government student loan will be lower than the payment required under the 15 or 20 year repayment option.

Process of Government Student Loan Consolidation:

To apply for a government student loan consolidation you must fill an application form and contact the lender. To apply for consolidation, you can use online facility provided by your borrower or you can request an application form on telephone incase your borrower does not provide online facility. After receiving your completed application, the lender will request information from your other lenders. Then the borrower will receive notification about consolidation loan, normal consumer disclosures and the amount owed.

Always Consider the CostConsolidation is simply an option of loan repayment, which lowers down your monthly repayment but mostly it increases the total repaying amount, as it increases time period upto 30 years allowing you more time to pay the same amount. Thus, you should compare your consolidated repayment with an unconsolidated one-if there is a big difference then you should find out some other option to solve your problem. Confirm whether you are losing interest rate discounts, principal rebates or any loan cancellation benefits.

Article Tags: Government Student Loan, Student Loan Consolidation, Student Loans, Government Student, Student Loan, Loan Consolidation

Source: Free Articles from ArticlesFactory.com

Next page: Fha Home Loans Mortgage Refinancing Va


Bookmark/Share This Page:

ADD TO DEL.ICIO.US ADD TO DIGG ADD TO FURL ADD TO NEWSVINE ADD TO NETSCAPE ADD TO REDDIT ADD TO STUMBLEUPON ADD TO TECHNORATI FAVORITES ADD TO SQUIDOO ADD TO WINDOWS LIVE ADD TO YAHOO MYWEB ADD TO ASK ADD TO GOOGLE ADD TO MAGNOLIA ADD TO NING ADD TO RAWSUGAR ADD TO SPURL ADD TO TAGTOOGA

  Bookmark and Share

Recommended Products

Get The Debt Help You Need