| Every year that passes, student debt just keeps on | | | | the number of your creditors. Making it easier for you |
| increasing. Many blame it on the high costs of College | | | | to keep track of the payments you have to pay. |
| and Graduate schools. Recent studies by the National | | | | You no longer have to worry about missing out on a |
| Center for Education Statistics say that 50% of | | | | payment just because you forgot or got it mixed up |
| college graduates have availed of student loans with | | | | with the others. To a fresh graduate busy with |
| a $10,000 average for every student. There is a | | | | looking for a job, this would offer some relief. Many |
| wide array of financial aid options available to | | | | fresh graduates make full utilization of their grace |
| students which range from grants, scholarships, | | | | periods before they start paying. Do the same, get |
| federal loans as well as private student loans. Most of | | | | some part-time work, sell stuff, do little things here |
| which can be easily obtained by a student who | | | | and there that would help you get a good head start |
| qualifies and passes all the requirements. The great | | | | before you start actual work and begin paying off |
| thing about these loans is the fact that you are not | | | | what you owe. |
| required to pay them till you graduate or stop going | | | | But take note that you cannot consolidate your |
| to school. | | | | student credit card debt with your student loan as |
| So once you've finished school and graduated, you | | | | this two are very different from each other. But you |
| have to start paying back the debt. Some companies | | | | can, however, consolidate your credit card debt |
| would offer a 3-5 month grace period allowing you to | | | | through private agencies and then, possibly, |
| first get a job or something so you could pay them | | | | consolidate your student loan debt into the same |
| off. But of course, getting a job isn't that easy and | | | | loan. Remember that federal funded loans have lower |
| just like any other fresh graduate would have to | | | | interest rates when compared private so if you |
| start at the bottom with very low pay. So how do | | | | consolidate them into one you would have to pay a |
| you pay your student loan? Or at least decrease it | | | | higher interest rate. So the best thing to do is to just |
| so it would be easier to pay off. There are many | | | | separate them. But of course, you can't just decide |
| different ways to do it but the most common ones | | | | these things on your own even if you will have the |
| are; consolidation and refinancing. | | | | last word. To get a better picture of the pros and |
| Consolidating your loan would benefit you by reducing | | | | cons, talk to a professional with expertise on the |
| the interest rates that you have to pay as well as | | | | subject. They would be able to help you out and |
| your monthly payments. Secondly, you also reduce | | | | suggest the best possible ways to reduce your debt. |