| Still in college? Med school? Law school? Dental | | | | of July 1, 2006, Federal law prohibits joint students |
| School? Over your head in student debt? If you | | | | loan consolidation with your spouse. |
| answered, "Yes," to any one of those questions, | | | | Are you still in the grace period of re-payment? |
| Students Loan Consolidation could be for you. | | | | Consolidate at least two months before the end of |
| To get better interest rates and make home equity | | | | this period to get the lowest rate. If you have |
| loans, homeowners refinance their homes. As a | | | | already started repaying your loan, you need to |
| student, you can do the same with your student | | | | consolidate as soon as possible in order to lower your |
| debts! | | | | payments. In the mean time, you will still need to |
| Most students have two kinds of student loans - | | | | continue making your payments. |
| private and federal. Because the federal loans are | | | | Newsflash: Prepayment causes no penalty on your |
| underwritten by the government, they get a lower | | | | loan! So, there is no need to worry about extra |
| rate. So it's in your best interest to consolidate each | | | | charges. Also, you can extend the duration of your |
| group separately. | | | | loan to 30 years by consolidating your student loans. |
| If your total student debt is at least $7,500 and | | | | Actual savings may vary because extension adds to |
| you're in the grace or repayment periods, you may | | | | the total amount of interest paid over the term of |
| be eligible for Federal loan consolidation. Consolidating | | | | your loans. Be sure to contact your loan provider |
| your loans, will retain a core deferment as usual. As | | | | before getting a students loan consolidation. |