A Student Loans Consolidation Service That Makes Dreams Come True
March 07, 2018
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A Student Loans Consolidation Service That Makes Dreams Come True
The Federal loan consolidation is a fixed-rate refinancing that combines all your existing federal loans into just one new loan. Or in other words it is the best way to simplify your monthly payments. There are no credit checks and application fee or charges when you apply. The standard ten-year repayment term would be lengthened thus, allowing you to have spare money for all the other expenses like house rents, car payments and all the other necessities in life.
If you decide to combine your federal loan, you have several repayment options to choose from. Check which you consider best suits you. A borrower may choose from equal payment, graduated payment, extended payment and income-sensitive payment plan.
Another type of loan consolidation is the private student loan consolidation. This kind of loan will help you cut your monthly payment by almost half in the first year by combining all your existing private student loans debt. No application fees required and there are no prepayment penalties as well. When you choose to get this kind of loan, a co-signer would help you get a better chance for approval or a lower interest rate, though it is not required. Your loan could still get approved without having a co-signer. A co-signer need not worry because he can be released or freed from the liability after a borrower's forty-eight months on-time payments. Remember though those federal loan debts cannot be combined with private loans because each has different terms and conditions. Another good thing about this is that instead of the traditional twenty-year repayment term, the payment had been extended giving a borrower a maximum of thirty years giving you a lower monthly payment. Few more reasons why this kind of consolidation is recommendable is that an interest-only payment is available for the first twenty-four months of repayment and that the interest payments may be tax deductible.
Now, you can enjoy your college life having no worries about your school fees because there is a student loans consolidation service that can provide you the cash you need to get through your college education. Choose the consolidation and repayment scheme that you believe you can manage. Now, you can dream bigger!
If you decide to combine your federal loan, you have several repayment options to choose from. Check which you consider best suits you. A borrower may choose from equal payment, graduated payment, extended payment and income-sensitive payment plan.
Another type of loan consolidation is the private student loan consolidation. This kind of loan will help you cut your monthly payment by almost half in the first year by combining all your existing private student loans debt. No application fees required and there are no prepayment penalties as well. When you choose to get this kind of loan, a co-signer would help you get a better chance for approval or a lower interest rate, though it is not required. Your loan could still get approved without having a co-signer. A co-signer need not worry because he can be released or freed from the liability after a borrower's forty-eight months on-time payments. Remember though those federal loan debts cannot be combined with private loans because each has different terms and conditions. Another good thing about this is that instead of the traditional twenty-year repayment term, the payment had been extended giving a borrower a maximum of thirty years giving you a lower monthly payment. Few more reasons why this kind of consolidation is recommendable is that an interest-only payment is available for the first twenty-four months of repayment and that the interest payments may be tax deductible.
Now, you can enjoy your college life having no worries about your school fees because there is a student loans consolidation service that can provide you the cash you need to get through your college education. Choose the consolidation and repayment scheme that you believe you can manage. Now, you can dream bigger!
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