| Now that you have attained your educational goals | | | | streamlined. |
| and have graduated with a degree, the time has | | | | Student Loan Consolidation For Non-Degree Holding |
| come to repay your student loan obligations. If you | | | | Students |
| are like many, student debt is one of your biggest | | | | But student loan consolidation is not solely for the |
| worries, especially since six to nine months following | | | | degree packing student. Many students who have |
| graduation will mark the beginning of your repayment | | | | not completed their degrees but have dropped out |
| cycle. Many students who have incurred a mound of | | | | of school or dropped below full time status are also in |
| student loan debt turn to student loan consolidation | | | | repayment only six to nine months later. Student |
| to ensure that they only pay one monthly payment | | | | consolidation can work for these students as well, |
| to one lender each month. | | | | and is a great alternative to ruining your credit record. |
| You may be wondering how you have amassed this | | | | And before you consider bankruptcy, be forewarned |
| huge debt. It is not difficult to accrue debt while | | | | - while certain private student loans may be |
| attending college. Education is not expensive and | | | | discharged under the bankruptcy code, no federal |
| tuition has been on the rise for many years. Couple | | | | loan will be. |
| that with the other costs of living the life of a college | | | | One of the biggest benefits of obtaining a student |
| student and the expenses of attending school and it | | | | loan consolidation is that you can reduce the interest |
| is not hard to see the average student walking away | | | | that you are paying on your existing loans. This is |
| from their education, degree in hand, with a debt of | | | | particularly true of higher interest private student |
| $50,000 or more. Grad have it even worse. | | | | loans that may be literally costing you an arm and a |
| One Payment For Many Loans | | | | leg. Student loans are less flexible than student loan |
| Another trouble with student loans is that they are | | | | consolidation programs in the repayment terms that |
| rarely written by one servicer. Even those students | | | | you must adhere to, as most agreements are |
| who have taken out federal loans like the Perkins or | | | | basically written in stone. |
| Stafford loan find that they may very well end up | | | | With a consolidation loan, you can choose to defer |
| with three to four different lenders (or more) over | | | | payments or extend the period of repayment to a |
| the course of their education. That makes for a | | | | longer number of years, reducing the total amount of |
| confusing time when students begin repayment | | | | money that you must come up with each month. |
| because they may need to write out a check to | | | | This is a good way to keep more of your income in |
| each and every lender each and every month. | | | | your pocket to pay for everyday necessities and |
| Student consolidation puts an end to that confusion | | | | other bills that you have, allowing you to rely less on |
| and makes the monthly payment process | | | | expensive credit cards or charge accounts. |