| Want to consolidate your student loans? It's a good | | | | automatically debited from your bank account on a |
| idea, since it can mean locking in a low interest rate | | | | designated day. In many cases, if you make this type |
| for life. And changing to a new lender may have | | | | of arrangement with your Student Loan lender, they'll |
| other advantages, too, since another lender may | | | | automatically drop your interest about 0.5%. |
| offer better perks and benefits. So as you search | | | | RATE DROP FOR ON-TIME PAYMENTS |
| around for a Student Loan Consolidation Lender, | | | | Just as some lenders will drop your rate when you |
| remember to look for these three things: | | | | sign up for electronic payments, others will give you |
| ONLINE ACCESS | | | | a lower rate once you have a history of on-time |
| Online access simplifies the entire process, from | | | | payments. This means, however, that you never |
| application to payments. You'll be able to apply online | | | | make a single late payment--or, if you signed up for |
| instantly without the hassle of dealing with a lot of | | | | electronic payments, that the money is always |
| paperwork (although you may have to sign some | | | | available in your account when the Student Loan |
| official papers before the consolidation is complete). | | | | company attempts to debit it. Once you have solid |
| Once your loans are consolidated, you'll be able to | | | | history of on-time payments--usually 6 months or a |
| check balances, make payments and change all your | | | | year--your Student Loan company will drop your |
| information by simply accessing the lender's website. | | | | interest rate about 0.5%, which means even more |
| RATE DROP FOR ELECTRONIC PAYMENTS | | | | savings for you. Here is a list of recommended |
| Some Student Loan Consolidation lenders offer a | | | | Student Loan Consolidation Lenders online. It's |
| bonus if you decide to make electronic payments. | | | | important to use a reputable lender online to make |
| You'll need to give the lender your banking | | | | sure your personal information is secure. |
| information--such as your bank account name, | | | | To get the best of all worlds, find a Student Loan |
| number and the routing number of the bank. Then | | | | Consolidation company that offers all these perks and |
| you designate the amount you want to pay each | | | | deals. Follow the guidelines, and you'll have a |
| month. Once it's set up, your student loan payment is | | | | super-low interest rate in just a short period of time. |