Gen-X Money Matters

Go Green--get quotes online, apply online!

2009-05-11T15:08:00.002-05:00

Responsibility to our earth is important! Need a quote for health insurance? Need information? No, I won't send you a brochure! I won't mail you anything! I won't kill any more trees than are necessary!

Go online and search the information yourself. Need help? Just call! And be more responsible to our world!

The Need for Health Insurance

2009-01-30T05:04:00.001-06:00

Most of us would agree that good health is an extremely valuable attribute. Those in poor
health generally have a lower quality of life as well as a reduced ability to work and earn
an income. Good health is frequently the result of biology (the genes you inherit), the life
style choices you make (exercise, diet, smoking), and appropriate medical care.

And even the healthiest among us need some medical care. Regular physician and dental
visits are a normal part of maintaining good health. Accidents, illness, and simply
growing older are other reasons medical care is necessary.

Paying For Medical Care

Medical care in the United States is, unquestionably, expensive. According to statistics
compiled by the federal government, over 20% of personal consumption expenditures are
directed to medical care.(1) For those needing medical care, there are three basic choices:
• Don't go: Not seeking medical care when it is needed can result in small, treatable
health problems becoming much bigger ones, with sometimes fatal consequences.
• Pay out-of-pocket: Paying for medical care from your own pocket can quickly exhaust
your assets. Huge medical bills are one reason cited as a cause of personal bankruptcy.
• Health insurance: Although the premiums can be expensive, for many individuals and
families, health insurance is the only practical way to provide needed medical care.

Sources of Health Insurance

There are three broad sources of health insurance in the United States today:
• Individually owned policies: The individual or family purchases a health policy
directly from an insurance company or health maintenance organization. Individual
health policies can be relatively expensive compared to group health insurance.
• Group health insurance: Group health insurance is typically provided through an
employer or another related group such as a professional association. The premiums for
group health policies tend to be less than those for individually owned policies.
• Government programs: For those age 65 and older, Medicare provides a base level of
health insurance. Medicaid provides health care for the impoverished. The federal
government has a number of programs to provide medical care to active duty and former
military service members. Some states have individual programs to provide health
insurance to low-income individuals and families.

The Choice Is Yours

While health insurance may be expensive, trying to pay medical costs out of your own
pocket, or not seeking medical help when needed, can be much more expensive.

(1) Source: Statistical Abstract of the United States:2007. Table No. 656 Personal Consumption expenditures in Current and Real (2000) Dollars, by Type: 1990 to 2004.

Sources of Disability Insurance

2009-01-29T05:04:00.001-06:00

Disability insurance is designed to replace a portion of the income you can lose if you are too sick or injured to work. There are two main sources of disability insurance: private disability insurance programs and government-sponsored disability insurance programs.

Private Disability Insurance Programs

There are two primary sources of private disability insurance: The individual purchases the policy directly from an insurance company. The terms and benefits of the policy can vary widely.

Group plans are typically purchased through your employer and generally offer a low-cost alternative to individual coverage. The terms and coverage will vary.

Government-Sponsored Disability Insurance Programs

At the federal level, there are a two primary programs offering disability insurance. Both are administered by the Social Security Administration.

Social Security Disability Insurance (SSDI) pays benefits to qualified individuals under the age of 65 regardless of current income. Benefits are based upon your Social Security earnings history.

Social Security Supplemental Security Income (SSI) pays benefits to qualified individuals who are either over 65, blind or disabled, and with limited income. Benefits are not related to the individual's record of Social Security earnings.

The Department of Defense and Veterans Administration offer military service members and veterans disability compensation for service-related health problems. In addition, federal employees covered under the Federal Employees Retirement System (FERS) are eligible for benefits if they have at least 18 months of service, and are unable to perform their job because of injury or disease.

All states and the District of Columbia have workers' compensation laws that provide disability compensation to employed individuals who get sick, become injured, or who are killed on the job. Although most workers are covered, states laws vary dramatically as to who is excluded and to the amount of benefits paid.

A Word of Caution

Neither of the above programs offered through Social Security covers partial disability and both have a strict definition of what it means to be disabled. In fact, over 60% of initial claims for Social Security disability benefits are denied.(1)

(1) General Accounting Office, Social Security Administration: More Effort Needed to Assess Consistency of Disability Decisions (Washington, D.C.: GPO, 2004), 7.

The Individual Need forr Disability Insurance

2009-01-28T05:04:00.001-06:00

Many people believe that their biggest asset is their home. For most of us, our biggest asset is the ability to work and earn an income. Not being able to work – due to a job loss or a disability having taken away the ability to work – is often financially devastating. Everyone who works for a living is very familiar with what can happen if they are fired.

On the other hand, the possibility of becoming seriously disabled is a risk few seem to think much about. How likely is it that you will become disabled? According to one study, 30% of all Americans between the ages of 35 and 65 suffered a disability lasting at least 90 days.1 The risk of disability is real. The question is, "What to do about it?"

Don't Count on Social Security

A few individuals do manage to qualify for disability benefits from Social Security. However, the Social Security definition of "disability" is so strict that over 60% of initial claims are rejected.2 Obviously, something else beyond Social Security is needed.

Group Disability Insurance

Many employers will provide – or make available – disability insurance on a group basis. However, even those who are covered by a group policy can still be at substantial risk. Employer-sponsored disability polices seldom provide you with more than 60 % of your monthly salary. Many policies set a monthly maximum benefit that may be far less than what some people earn. Income taxes can also be an issue; if the employer is paying the full cost of the coverage, disability benefits are fully taxable.3

Individual Disability Income Insurance

For many, the real solution to the disability problem is individual disability income insurance. Although individual policies may cost you more, as long as you pay the premiums the benefits are not taxable. Plus, an individual policy allows you to tailor its terms to fit your own needs. Factors to consider when shopping for an individual disability policy include:

• Company strength: You need to know if the company is financially sound.

• Definition of disability: Look for a policy that defines disability in the broadest terms possible. Some policies will permit you to work in a different occupation and still collect disability benefits.

• Elimination period: How long must you wait before disability payments begin?

• Benefit period: How long will you need coverage? Both short-term and long-term disability benefits are available.

• Inflation protection: Try to find a policy that adjusts benefits for inflation.

(1) Based upon the 1985 Commissioners' Individual Disability Table.
(2) General Accounting Office, Social Security Administration: More Effort Needed to Assess Consistency of Disability Decisions (Washington, D.C.: GPO, 2004), 7.
(3) This discussion concerns federal income tax law only. State or local law may vary.

Individual Disability Income Insurance

2009-01-27T05:04:00.000-06:00

One approach to the problem of providing income during an extended period of disability is to purchase individual disability income insurance.

What to Look for in a Disability Insurance Policy

• Definition of disability: Are education, experience, and past earnings taken into account in determining whether the insured is qualified to resume work? Many policies provide for an initial own occupation1 definition of disability, for a specified period of time, after which a different definition of disability applies.

• Partial or residual benefits: Partial or residual disability benefits may be paid in some policies when the impairment allows the insured to perform only a portion of his or her duties. This provision may also pay benefits in the event the disability reduces the insured's income by a certain amount (e.g. 20% or more) from pre-disability levels.

• Cost of living adjustment: Is there a cost of living adjustment (COLA) which would increase benefit payments after a disability occurs?

• Cancelability and renewability of policy: Except for nonpayment of premiums, is the policy noncancelable or guaranteed renewable? Noncancelable generally means that the insurance company cannot cancel the policy, change the policy provisions or increase policy premiums after issue, as long as premiums are paid on a timely basis. Guaranteed renewable is similar, but allows the insurance company to increase the premium.

• Waiting and elimination period: Is the waiting or elimination period proper for the insured's circumstances? Commonly available periods may include 30, 60, 90, 180 and 360 days. Naturally, the longer the elimination period one selects, the lower his or her premium payments will be. However, a person's needs, cash reserves and income sources should be the deciding factors in selecting a proper elimination/waiting period.

• Benefit period: What benefit period should be selected? Since a long-term medical disability can be financially devastating, one should elect a long-term benefit where possible. Some companies offer lifetime benefit periods, but periods as short as 24 months to 60 months are also available.

Types of Disability Contracts

Several other specialized disability contracts are available to the businessperson:

• Business overhead expense: Covers expenses such as staff salaries, rent, telephone, utilities, malpractice insurance and other expenses necessary to keep a business open.

• Key person disability: Reimburses the business for the loss of a key employee and allows funding of temporary replacement or training of a successor.

• Disability buyout: Provides income to fund a buy-sell agreement triggered by the total disability of a shareholder/business owner. Payouts may come in the form of a lump sum, monthly installments or a combination of the two.

Caution: Highly-compensated employees should be aware of payment caps in many group long-term disability policies. While some programs will provide disability income payments at 60% or 66% of salary, many have a relatively low dollar limitation, such as $3,000 per month.

(1) Own occupation generally means the insured's current occupation. The own occupation definition of disability may not be available for all occupations or professions.

Taxation of Disability Insurance Premiums and Benefits

2009-01-26T05:04:00.000-06:00

Personally-Owned Policies

Premiums for a non-medical benefit such as disability insurance are not deductible when purchased by an individual. See IRC Sec. 213(d)(1).

The benefits from a personally owned disability insurance policy are exempt from income taxation. See IRC Sec. 104(a)(3). State disability compensation is nontaxable if the benefits paid are in the nature of workmen's compensation. However, unemployment compensation from federal and state programs is fully includable in gross income.1

Business-Owned Policies

If the premium is paid by the employer for its employee, the results are different.

• The premium is deductible by the employer whether the insurance is a group policy or individual policies, so long as the benefits are payable to the employees or their beneficiaries. See Reg. Sec. 1.162-10(a).

• The amount paid by the employer for disability insurance premiums is not taxable to the employee. See IRC Sec. 106, Reg. Sec. 1.106-1 and Reg. Sec. 1.79-3(f)(3).

• When a benefit is collected, it is fully includable in gross income of the employee. If the employee paid part of the premium, that portion of the benefit will be tax-free.2 See Reg. Sec. 1.105-1(c).

• If the policy pays for accidental death, the proceeds are generally tax-exempt to the beneficiary under IRC Secs. 106 and 101(a). (Policies issued after 12/31/84 must meet the statutory definition of life insurance under IRC Sec. 7702.)

Key Person Disability Insurance

If the policy is payable to the business to protect it from the loss of services of a key employee, the premium is not tax deductible. See IRC Sec. 265(a)(1), and Rev. Rul. 66- 262 and 1966-2 CB 105.

On the other hand, benefits collected by the company are received income tax free. See IRC Sec. 104(a)(3) and Rev. Rul. 66-262.

(1) Based on federal law. State law may vary.
(2) In Revenue Ruling 2004-55, IRB 2004-26, 6/9/04, the IRS reviewed an employer-sponsored disability plan in which an employee could choose to have the employer-paid premium included in current wages, thus treating the premiums as having been made by the employee on an after-tax basis. Any disability benefits received under this arrangement would be excluded from the employee's gross income.

Who Makes Medical Decisions When I Cannot?

2009-01-25T05:04:00.000-06:00

Today's advanced medical technology allows physicians to keep a person "alive" in situations that formerly would have resulted in death. Individuals who do not wish their lives to be prolonged by such artificial techniques must plan ahead and put their desires in writing.

In the now famous case of Cruzan v. Dir. Mo. Dept. of Health, 110 S. Ct. 2841 1990, the U.S. Supreme Court
held that a state may demand clear and convincing proof of a person's wish to refuse or withdraw medical support. Ms. Cruzan was an accident victim who had not made clear her desire to have medical support withdrawn. Because of this failure, she could have been kept alive, in a vegetative state, for years, at an estimated cost of $200,000 per year.

When Should Medical Treatment Be Withheld?

As the following examples are read, one might ask, "Would I want medical support withdrawn in this situation?"

• In a coma with no hope of recovery

• In a coma with a small likelihood of recovery with permanent brain damage

• Afflicted with brain damage or disease, severe in nature, and a terminal illness

• Afflicted with brain damage or disease, severe in nature, but without terminal illness

In these situations, and others, difficult decisions must be made as to the treatment to be provided or withheld (for example, artificial respiration, medicine, food, water, etc.). When a patient is incapable of expressing his or her wishes, some other way must be found to guide the decision making process. The "living will" and "durable power of attorney for health care" (advance health care directives) are useful in this regard.

Living Will

Most states recognize some form of what has been called a "living will", or "directive to physicians." Such a document sets down in writing a person's wishes as to the type of medical treatment to be provided, or withheld, and the general circumstances under which the directive applies.

Durable Power of Attorney for Health Care

Many states also have provision for a durable power of attorney for health care, which allows an individual to appoint another person to make health care decisions for them if they became unable to do so. The agent is generally empowered to make decisions beyond end-of-life issues, such as admission to a nursing home, consent for surgical operations, and care in the event of senility or other disability.

COBRA Coverage Continuation

2009-01-24T05:04:00.001-06:00

An employer who has 20 full-time-equivalent employees or more on at least 50% of its working days during the prior year must meet the requirements of IRC Sec. 4980B, also known as COBRA. Failure to comply with COBRA requirements may result in serious penalties.

Under COBRA, an employer must give his covered employees (including spouses and dependent children who are covered) the opportunity to elect continuation coverage under an employer maintained group health plan (including plans to which the employer does not contribute financially) after any of the following events that would otherwise result in loss of coverage:

• The death of the covered employee

• The divorce or legal separation of the covered employee

• The termination of the employee's employment, unless for gross misconduct, or a reduction in hours that results in a loss of coverage

• The covered employee becomes entitled to Medicare

• A dependent child ceases to be covered by the plan due to his or her attained age

• For retired employees, the filing by the employer for Chapter 11 bankruptcy

Continuation Coverage

The coverage which is offered must be identical to the coverage offered prior to the event causing the continuation.

The plan may require the covered employee (spouse or dependents) to pay a premium, but it generally cannot exceed 102% of the cost to the plan for a person in a similar situation.

Terminated employees and employees with reduced hours must be provided coverage for up to 18 months (up to 29 months if disabled [by Social Security definition] during the first 60 days of COBRA coverage). Widows, divorced spouses, spouses of employees or retirees who lose coverage due to Medicare eligibility and dependent children who become ineligible are given up to 36 months of coverage. Each health plan must give written notice to each covered employee of his or her continuation coverage rights.

Notice and Election Requirements

COBRA contains detailed rules and timelines specifying when employers, covered employees, and health plans/plan administrators must provide notices of certain events or take certain actions. The most important of these is the notice of an individual's right to elect continuation coverage. An individual normally has only 60 days from the date of the COBRA election notice (triggered by a loss of group health coverage due to one of the events discussed earlier) in which to elect continuation coverage. If they do not elect continuation coverage during this period, they normally give up their rights under COBRA to choose continuation coverage.

However, the Trade Act of 2002 created a special second 60-day election period for certain individuals who do not elect COBRA coverage during the initial 60-day period. The rules regarding this special second election period are complex. Employers whose employees may be entitled to assistance under the Trade Act of 2002 should check with their insurers or COBRA administrators to make sure that individuals who are qualified to receive trade adjustment assistance under the Trade Act of 2002 receive an appropriate notice of this special second COBRA election period.

Failure to Comply

Employers who fail to comply with the COBRA Rules can incur an excise tax of $100 per qualified beneficiary for each day of noncompliance (with a maximum of $200 per day per covered family). COBRA Administrators who fail to provide the initial COBRA notice or the COBRA election notice when a qualifying event occurs are subject to a penalty of up to $110 per affected beneficiary per day under the Employee Retirement Income Security Act. If the failure to comply is not intentional, but due to reasonable cause, the maximum excise tax is limited to 10% of the prior year's group health plan costs (with a maximum of $500,000).

Regulations

In February 1999 and again in January 2001, the IRS issued final regulations under COBRA, plus new proposed regulations. The regulations include dozens of changes and clarifications regarding the details of COBRA. In May 2004, the Department of Labor issued additional regulations (effective the first day of the first plan year that occurs on or after November 26, 2004) that make significant changes to the notice requirements. The
regulations include model notices that should be customized for each plan.

Critical Illness Insurance

2009-01-23T05:04:00.000-06:00

Critical illness insurance is a relatively new type of insurance coverage designed to help
meet the extra, unforeseen financial burdens associated with recovering from a serious,
life-threatening illness. While comprehensive health and disability insurance plans cover
many expenses, they are not designed to pay all of the costs associated with recovering
from a critical illness. If you are diagnosed as having a covered illness, a critical illness
policy can provide the extra resources to pay for expenses not covered by other insurance:
• Rehabilitation costs
• Co-pays and deductibles
• Experimental and/or alternative medicine
• Out-of-network expenses
• Child care costs
• To supplement or replace lost income
• Travel, for family members or the insured

How Does It work?

Upon being diagnosed with one of the covered illnesses, you will typically receive a lumpsum
payment. Some older policies may have a survival period (up to 30 days) that you
must live after being diagnosed. Although a policy may cover more than one illness, it
will generally only pay benefits on the first one to strike you. With some policies, the
payments may be spread out over time.

Types of Illnesses Covered

Coverage will vary from policy to policy and company to company. Typically, however,
covered illnesses include: cancer, multiple sclerosis, heart attack, Alzheimer's, stroke,
paralysis, renal failure, blindness, deafness, and organ transplant.

Policy Costs

Policy costs vary according to several factors: age; medical condition; and the amount of
coverage purchased. If you are a smoker or your family has a history of heart disease,
stroke, or cancer, you may be denied coverage – or asked to pay a steep premium.
Furthermore, a policy may exclude coverage for a pre-existing condition.

Federal Taxation of Policy Proceeds

The proceeds of a personally owned and paid for critical illness policy are exempt from
tax under federal law. In certain situations, the proceeds from an employer-provided
policy can be taxable. State and local law can vary. Check with your tax advisor.
As with any insurance purchase, the counsel of a professional advisor is recommended.

Student Loan Facts

2009-01-22T05:04:00.000-06:00

Author: Bob Janeway

For a lot of students, a task that is even more intimidating than college itself is working out out how to apply for a student loan. While the paperwork may seem intimidating and complicated at first, there are many resources available to assist you through the process. Many colleges and universities are switching over to online form submission, which makes it even easier for most people.

The number one step to applying for a student loan is to fill out the standard application to get federal student assistance. The Free Application for Federal Student Aid (FAFSA) is available online for convenient electronic submission, or is available as a paper form from many guidance counselors. Once you have submitted the form, it will be evaluated and you will obtain a Student Aid Report that profiles your eligibility for the most common types of federal student aid. You could be eligible for other types of federal aid also, so be sure to check out other available programs as well.

Depending on the amount of federal student aid you will be awarded, you may have to get more aid to handle all of your college expenses. A common method of doing so is to search out and apply for a private student loan. Research lenders, rates, terms and application procedures carefully to assure you find the best deal for you. As with the FAFSA, virtually all lenders offer online form completion.

Some students likewise obtain financial aid for their education thru their parents, who have got to borrow finances to do so. The federal program for parents looking for a loan for their kids training is known as PLUS, and it is likewise a program that accepts online submission of forms. While this is not a student loan in the strictest sense, the federal program and many private loan programs offer special interest rates to relieve the burden on parents.

As soon as you have found the online forms for the federal student loan application program, you will need to sit down at a time when you are not hurried and be set up with the information required by the form. In most cases you will have to do this with your parents alongside to assist, as they will be required to furnish info as well. Your federal student loan application will require personalized info about you as well as your parents. Full name, address, and social security number are standard, along with bank report and employment specifics.

The application will call for total revealing of fiscal data. This includes recent income tax returns, stock market and additional financial holdings, as well as property and other assets you may own. Both you and your parents will be required to provide these numbers. The form will also look at outstanding debts owed by you and your parents, including credit cards, car loans, and other payment amounts.

In general, the federal student loan application calls for the most in depth information from you and your parents. This is because federal programs regard financial need when calculating assistance awards and they need to have a complete picture of the family's financial resources. A private student loan application, conversely, might not call for as much or even any information given by your parents if yours will be the sole name on the loan. If your parents are co-signors then they will need to provide financial information to affirm their credit stability alongside yours.

The decision procedure for federal student loan awards is fairly drawn out, since the programs study applications from all over the United States. The immense volume of applications means it will require a bit of time to appraise qualifications and determine eligibility for federal student loan programs. Private lenders, on the other hand, will generally render a deci

About the author:

Student Loans Advice -A student loan is designed to help you pay for college tuition, books, and living expenses. Learn more here- Finance-St uff.com

Government Student Loan Consolidation - Pros & Cons

2009-01-21T05:04:00.000-06:00

Author: Imtiaz.s

The Pros And Cons Of Government Student Loan Consolidation

Your college or university days may be behind you but if you received federal student loans from the US Department of Education (ED) along the way you now have to deal with paying them back. To avoid repayment problems it's important to learn how to manage your student loan debt. One of the best ways is a government student loan consolidation.

For starters consolidation allows you to simplify the repayment process by combining several types of federal education loans into one government student loan consolidation so you make just one payment a month. The benefit to this is that your new monthly payment may even be lower than what you're currently paying.

Typically student loans are paid over a period of time between 15 and 30 years. The interest that accompanies these students loans is variable. The downside to this is that with a long term plan, in years 15 to 30 you may end up having to pay significantly higher rates of interest than you did in years one to 15 since interest rates traditionally rise over time.

However, a government student loan consolidation secures a student's interest rate. A fixed loan program means that students can obtain a government student loan consolidation at an excellent rate. For students with high debt, this fixed interest rate loan can literally save thousands of dollars in interest payments over the life of the repayment period.

The Higher Education Act (HEA) provides for a loan consolidation program under both the Federal Family Education Loan (FFEL) Programs and the Direct Loan Program. Under these programs, a borrower's loans are paid off and a new government student consolidation loan is created.

Both of these programs simplify loan repayment by combining several types of Federal education loans into one new government student loan consolidation product. Please note that even if your loans have different terms and repayment schedules or may have been by different lenders chances are good they are still eligible for a government student loan consolidation.

And, the interest rate on the government student loan consolidation may be significantly lower than one or more of your underlying loans. Further, the monthly amount on a government student loan consolidation is usually lower as the amount of time to repay may be extended beyond the terms of your separate loans. The bottom line is these features should result in a more manageable student loan debt. Additionally borrowers who opt for goverment student loan consolidation are less prone to default.

You can get a direct consolidation loan, available from ED, or a Federal (FFEL) Consolidation Loan, available from participating FFEL lenders. Under either program, the loan holder pays off the existing loans and makes one consolidation loan to replace them. If you have subsidized and unsubsidized loans, they'll be grouped accordingly when you initialize your government student loan consolidation so you won't lose your interest subsidy on the subsidized loans.

There are three categories of direct consolidation loans: Direct Subsidized Consolidation Loans, Direct Unsubsidized Consolidation Loans, and Direct PLUS Consolidation Loans. If you have loans from more than one category, you still have only one direct government student consolidation loan and make only one monthly payment.

Under the FFEL Program, you can receive a subsidized and/or an unsubsidized FFEL Consolidation Loan, depending on the types of loans you're consolidating. (FFEL PLUS Consolidation Loans are included under the Unsubsidized FFEL Consolidation Loan category.) Both FFEL and Direct Consolidation Loans have the same interest rate, which is a fixed rate set according to a formula established by law. The rate is the weighted average rate of the current rates charged on the loans being consolidated, rounded up to the nearest one-eighth of a percent. This means the rate you'll pay won't be more than one-eighth of a percent more than the effective rate on your individual loans. The rate is fixed for the life of the government student loan consolidation.

We've looked at the pros now lets look at the cons. Although consolidation can simplify loan repayment and might lower your monthly payment, you should carefully consider whether you want to consolidate all your loans. For example, you might lose some discharge (cancellation) benefits if you include a Federal Perkins Loan in a FFEL Consolidation Loan or Direct Consolidation Loan. If that's the case, you might want to consolidate only your FFELs or only your Direct Loans and not your Federal Perkins Loan(s).

You also wouldn't want to lose any borrower benefits offered under your existing non-consolidated loans, such as interest rate discounts or principal rebates, which can significantly reduce the cost of repaying your loans.

Further, you can have a longer period of time to repay your government student loan consolidation than you do for the individual student loans you're repaying, but this also means you'll pay more interest over time.

In some cases, consolidation can double total interest expense. If monthly payment relief isn't a top priority, you should compare the cost of repaying your unconsolidated loans against the cost of repaying a government student loan consolidation.

Once finalized, government student loan consolidation can't be undone. Bear in mind the loans that were consolidated have been paid off and no longer exist.

The bottom line is that it's best to take the time to study your government student loan consolidation options before you apply.

For more details on government student loan consolidation, contact your loan holder(s).

About the author: for more info please visit http://www.premiumsecret.com

Student Loan Consolidation - Big Benefits

2009-01-20T05:06:00.000-06:00

Author: Dean Shainin

Why Should I Consolidate My Student Loans Now?

There has never been a better time than now, to take advantage of the lowest interest rates in recent history. A student can get the best deals for consolidating debt and lower those monthly payments. Student loan consolidation can save you hundreds of dollars per year on repaying your student loan.

How Does Student Loan Consolidation Work?

When a student first applied for loans from several different government agencies and loan providers, they each gave a different interest rate and term for paying back the loans. The idea of student loan consolidation, is to take all the different loans and put them into one easy convenient loan. You then only make one monthly loan payment over time. This saves the student both time and money. Having a lower interest rate and less checks to write every month are the big advantages of consolidating a student loan.

Student Loan Consolidation Is Now Easy Online

You can now get a consolidation loan online quickly and easily. The Internet makes research and finding great programs, easy as a few clicks of the mouse. You can get done in a day, what would in the past, take weeks to accomplish. You can learn everything you need to know from information sites that provide the latest news and data in regards to student loan consolidation. This empowers you to get the best deals on student loan consolidation. With a few clicks of the mouse, you can get loan quotes and compare loan companies that are competing for your business.

Consolidation Loans Can Relieve Stress

Student loan consolidation can help student loan borrowers focus on their education, instead of debt. With a single new loan and lower monthly payments, you can focus on what's most important, education and your new career. There is no need to lose sleep at night stressing out about how you're going to pay back all those student loans.

About the author: Dean Shainin is a consultant specializing in student loan consolidation. To get more ideas,articles, resources and information, visit this site:

Student Loan Consolidation

Student Loan - The Basic Facts

2009-01-19T05:04:00.000-06:00

Author: Joseph Kenny

There are a lot of different ways of funding your way through college. You might be one of those students lucky enough to have a full scholarship. You may also have rich or generous parents who are willing or able to pay the bills.

However, many students are not so lucky. Most of the above funding sources will only pay part of the bill, not the total. And even if you can get all your tuition paid, you still have to come up with the money for rent, books, entertainment and other living expenses.

Employment

You may be able to get a job. This is a good idea for all students, but it is not always easy to do so. Some colleges are located far from towns with employment opportunities. Sometimes employers are reluctant to hire students as they usually cannot commit to full time work and will likely not be around during holidays. If you do manage to get a job, it will probably not be the highest paying job in the world, and you shouldn't work more than part time. Remember that your main aim during your college years is to get the best grades you can, and working 40 hours a week just to pay your tuition would be self-defeating.

Loans

So that means that for many students, the only method of paying for college that will be available to them is to take out student loans. Going into debt is always a commitment , and it can be especially stressful before you have even started working and aren't certain how you will pay back the loans. Student loans however, have a number of advantages over regular loans. First of all the rates and terms are more lenient. Student loans are likely to be at a much lower interest rate than most loans that will be available on the market for other purposes. They will also give you plenty of time to get on your feet and find a job after you finish your studies. This means they are not going to be due immediately after graduating.

Repayment periods on student loans are probably the fairest and most patient you'll ever get in your life. These rates and terms reflect the faith that lenders put in today's students. They know that ultimately, college is a good investment and most graduates will be able to pay back their debts if they are just given the time.

About the author: Joseph Kenny is the webmaster of the loan information sites http://www.selectloans.co.uk / and also http://www.ukpersona lloanstore.co.uk . At the Personal Loan Store you can find all the different loan types explained.

An Overview of Student Loan Debt Consolidation

2009-01-18T05:04:00.001-06:00

Author: Angela Rogers

A student loan debt consolidation loan allows you to combine your federal student loans into a single loan with one monthly payment. The repayments of a student loan debt consolidation loan can be significantly lower than the payment required under the standard 10-year repayment option. Under the Federal Family Education Loan (FFEL) Program, banks, secondary markets, credit unions, and other lenders provide the student loan debt consolidation loan. Under the William D. Ford Federal Direct Loan (Direct Loan) Program, the federal government provides the student loan debt consolidation loan.

Most federal education loans are eligible for inclusion in a student loan debt consolidation loan, including subsidized and unsubsidized Direct and FFEL Stafford Loans, SLS, Federal Perkins Loans, Federal Nursing Loans, and Health Education Assistance Loans. However, private education loans are not eligible for inclusion in a student loan debt consolidation loan.

To find out which loans can be included in a student loan debt consolidation loan contact the Direct Loan Origination Center's Consolidation Department if you're applying for a direct student loan debt consolidation loan. Contact a participating FFEL lender if you're applying for a FFEL student loan debt consolidation loan.

It is worth noting that you are still eligible for a student loan debt consolidation loan after you graduate, leave school, or drop below half-time enrollment. You can also get a student loan debt consolidation loan while you're in school. You must, however, be attending at least half time and have at least one Direct Loan or FFEL in an 'in-school period' which generally means that you have been continuously enrolled at least half time since the loan was disbursed. There are a number of conditions that need to be met for you to qualify for a student loan debt consolidation loan, especially if you are delinquent or in default and your loan holder will be able to give you all the necessary information.

If the same holder holds all the FFEL loans you want to consolidate, you must obtain the student loan debt consolidation loan from that holder, unless you haven't been able to get a loan with income-sensitive repayment terms that are acceptable to you. To be eligible for a William D. Ford direct student loan debt consolidation loan, you must have either a direct Stafford subsidized or unsubsidized loan that will be included in the student loan debt consolidation loan or have at least one Federal Family Education Loan (FFEL) program Stafford subsidized or unsubsidized loan.

Get out of debt - debt help and relief guide.

About the author: Angela Rogers is the editor for http://www.debt-helper.info - Your guide to debt help and debt consolidation.

How To Stretch Your Student Loan

2009-01-17T05:04:00.001-06:00

Author: Rachel Lane

If you're considering going to university, there is a strong chance that you're also contemplating taking out a student loan to fund your university expenses. Student loans don't have to equate to student debt and if you plan your finances, it is possible to get by without student loans and possibly even profit from them. There are many sites on the internet which provide downloadable student finance guides and online advice on how best to manage your finances. Moneynet offers a comprehensive student finance guide (

http://www.moneynet.co.uk/student-finance-guide/index.shtml ), whilst the money section on support4learning is also a popular internet resource. ( http://www.support4learning .com/ ).

The first step to avoid financial dependence on a student loan is to consider taking a gap year to gain experience and earn money. This is a great opportunity to start saving for university and will give you funds to cover accommodation and bills without tapping into your student loan.

In terms of managing your personal finances, you could open up a notice savings account and invest your gap year earnings - alongside a student loan, accruing interest on the total amount, but being disciplined so that you only ever tuck into your savings - not the loan itself.

If you're comfortable that you can timetable it - you might consider a part-time job to help finance your studies, using your income to cover the majority of your expenses so that you can leave your bank savings alone. There will be times when you may have to make a withdrawal from your savings account, but if you leave the capital there as long as possible - the more money you will make.

If you're concerned about getting the maximum amount of interest on your loan, you could try doing a savings comparison search on the internet. Sites such as moneynet.co.uk ( http:// www.moneynet.co.uk/banking-saving/index.shtml ) and reviewcentre.com ( http://www.rev iewcentre.com/products2312.html ) allow you to compare different accounts alongside each other.

If you keep a tight grip on your finances, then it is likely that you will be in a strong position to pay off your loans when you graduate. Whilst studying, you might also be interested in conducting price comparison research for insurance and current accounts to ensure you're getting the best deals. Don't be seduced by high street offers of freshers' fair promotions - collect as much information as you can, so you can make an informed financial decision. It's also worth setting yourself up with online accounts which you manage through an account aggregation tool. Account aggregation allows you to manage your money online and can save you time, foot leather and bank charges. If you want to find out more about account aggregation, visit the Channel 4 website which offers a detailed guide. (

http://www.channel4.com/4money/banking/featur es/account_aggregation_161204.html )

About the author: Rachel writes for the personal finance blog Cashzilla. http://www.cashzilla.co.uk

Student Loan 101: Get Money and Get a Degree

2009-01-16T05:04:00.001-06:00

Author: Richard Martin

If you are like every other college student out there, you need to pay for college somehow. Many students look into getting government grants or taking out loans from friends and family. These can be extremely effective means of financing an education and these options should be looked at. However, a student loan may be the answer if you don't have the savings or the means to get the money.

College can be expensive. Most parents at least try to help their children financially through at least some part of their university experience. However, getting a degree at one of the prestigious universities can run you more than $30,000 in tuition alone at the top schools. You might be one of the myriad students who attend our large state schools and therefore go to school at a substantial discount. However, most people don't have an extra $100,000 saved up and therefore seriously need to consider taking out student loans and applying for scholarships if they can.

A student loan can help you pay for tuition, books, and general living expenses. Student loans are handy when you don't have a job and have an immediate bill that is coming due. Finding a grant or student loan shouldn't be as difficult as your classes are, so here are 3 valuable tips to consider when putting together your financial plan for your next year at college.

1)Find a student loan provider who is established. You don't want a fly by night organization that is merely interested in taking you for a ride and not providing the money you need to complete your education. Getting your student loan can be a long drawn out process where the lender delays and delays and you end up waiting and waiting with more debt piling up. I have friends that have had their student loans delayed until the end of the semester due to paper work errors! Wow! A $5000 tuition bill doesn't look pretty when it's sitting on your credit card statement.

2)When you receive your student loan, look to pay off high interest debt first. Guess what? Your money will do a lot more for you when it's only accruing debt at 5% per year than at over 20% on your Visa bill! Credit card companies can be very aggressive marketers and you might end up paying for that tuition bill many times over if you let it sit on your credit card. Always look to lower your highest monthly expenses if possible and this definitely includes credit card debt.

3)Shop around. I'd be willing to bet that some banks will give you a better deal on a student loan than you think they would. Find out who's got the best rate to get the best deal on your loan. Student loan payments can last a lifetime and that extra 1% can add up to literally thousands of dollars over the years. I have friends that are in their 50s and still paying off their student loans. It'll pay off in the long run to make sure you find the best deal possible.

Student loans are popular as today as ever: find one and use it to your advantage.

About the author: Richard Martin is a contributing writer at http://www.LegalClips.com. LegalClips.com has Vioxx and injury lawyer articles.

Student loan consolidation: look this gift horse in the mouth. Part I

2009-01-15T05:04:00.001-06:00

Author: Ian McAllister

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Get Life Skills - Not Student Loans

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Student loans? Who needs them? Take charge of your money for the rest of your life.

Part I (This article)

Part II Student loan consolidation has big benefits for losers

Part III Idea beats student loan consolidation and creates a winning mindset.

You'll never need student loans with these ideas.

1.Grants in place of student loans - no repayments

2. Part time earning decreases student loans

3. Economising (builds life skills) avoids some student loans

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1. Grants - Supreme way to avoid student loans

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A grant is a gift of money that you don't have to repay. Isn't a $50000 grant better than taking out student loans every year for four or five years? There is a club that keeps its members abreast of grants that they might use. You can avoid student loans. These grants aren't confined to education so you aren't confined to avoiding student loans. If you get a grant, save actively to build a nest egg and the right mindset.

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2. Part Time Earning

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There are lots of ways for you to work your way through college. What I like is that they encourage an aggressive "go and get it" mindset. Student loans encourage the "wait for it to come to me" mindset.

I have details of how a teenage girl made a profitable website. She'll never need student loans!

One girl runs dogs. That's right, she runs for half an hour with 4 dogs that need lots of exercise, then picks up the next 4 dogs.

Don't lose sight of your target. You want to avoid student loans, not impress your friends with how much you can spend.

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3. Economising

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I had a grant for University. Fellow students complained their student loans or college grants were too small. I saved money from the grant by economising.

A dollar saved is four dollars earned. You pay back about twice as much as you borrow, with money from which the IRS has stolen 50%. So each dollar you save avoids earning four.

You can economise on these and have better health.

1. Food

2. Lodgings

3. Health

4. Transport

5. Social life

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1. Food.

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Learn to cook. You're at the mercy of food suppliers until you can cook. One student got into the news because student loans only covered tinned dog-food for him to eat. That's too expensive! I'm cooking my own food and eating well on about$17 per week.

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2.Lodgings

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I can only suggest that you shop around. Remember that $20 saved per week is $1000 saved from your student loans each year even without interest payments.

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3. Health

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The damage you do to your body adds up over your lifetime, so it's a good idea to stay healthy. What has that to do with student loans?

It turns out that fast food is bad for your health, and so are most processed foods, and cooking your own food means that you can avoid trans-fatty acids, sugar, and all the other things that cause obesity. Curry, broccoli, tomatoes, garlic, brazil nuts, and cabbage among other things fight cancer. And they all make less demands on student loans.

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4.Transport

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Make enquiries. How much would you save from your student loans by buying a bike instead of a car? Would public transport be better? Would walking or running for exercise be even better? How much would it cramp your style for dating?

Remember, buying a car with a student loan involves not only repayments, but fuel and oil, repairs, licensing, and depreciation. I travelled 2 hrs/day on my pushbike getting exercise and no college loans.

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5. Social Life

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Look for free pastimes. If your friends aren't interested in ways to avoid college loans perhaps you have the wrong friends.

If you finish study at 25 and work till 60 that gives you a working life of 35 years. So a 25 year student loan takes a big chunk out of your life, even if you are never unemployed.

And that's before you take out a mortgage!

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Other ways to economise

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Buy second-hand whenever possible - even your textbooks. Clothes from the Salvation Army are cheap. Use eBay, but don't buy anything you don't need. My first boss said I'd furnished my house for less than he spent on his bedroom. Negotiate - Important for second hand, even more for new goods. When you go in to buy a new fridge, the attendant waits to see if you're stupid enough to pay the price tag, or ask for a discount.

Remember a dollar saved is four dollars in student loans that you won't have to pay back.

About the author: Ian McAllister went to University with a grant and saved money from the grant. He still spends less than $18 each week with skills learned as a student. Learn why you pay four times for what you borrow. The right mindset can make you a millionnaire. http://studying-techniques.com/student-loans.html http://studying-techniques.com/student-loan-consolidation.html

Haunting Student Loan Debts

2009-01-13T05:04:00.001-06:00

Author: Henry Byers

In today's ever changing economy, it's hard enough for the average working individual to make ends meet, without a wage garnishment, while supporting themselves or their families. Sometimes living pay check to pay check with the regular bills and sudden unexpected expenses is hard enough without having an old student loan debt rear its ugly head to bite you in the wallet. Borrowers who have not made voluntary and timely payments to the institution from which a loan was made, may face a wage garnishment through their current employer. Under the Higher Education Act, the Department of Education and security agencies can require employers to deduct a minimum of 10% of the indebted employee's pay check each pay period toward repayment of the debt. This wage garnishment may continue until the entire balance of the outstanding debt is paid. This method of wage garnishment is used only for the borrowers who refuse to voluntarily repay their defaulted loan and is not used with those borrowers who continue to make regular and timely payments.

Employers who have received an Order for Withholding of Wages must conform to the order by law. Employers will only receive information that is necessary to conform with the wage garnishing order and are prohibited to discharge the borrower from employment, or subject the individual to disciplinary action due to wage garnishment. Any individual who is discharged from their job or disciplined is allowed to seek restitution in federal or state court if such action occurs. Administrative Wage Garnishment is a tool of last resort used by the U.S. Department of Education to recover defaulted student loans through wage garnishment. Thirty days prior to the issuance of the Order of Withholding, a notice is sent to the borrower notifying that individual of the Department of Education's intent to garnish wages and of the borrower's rights and appeal procedures.

To avoid wage garnishments, the borrower has an opportunity to enter into a written agreement under terms agreeable to Department of Education to establish a voluntary repayment arrangement. If the borrower has any objections to the existence, amount, or enforce-ability of the debt, a hearing can be arranged to present and obtain a ruling; also of any objection that wage garnishment of the borrowers disposable pay would produce an extreme financial hardship. A wage garnishment action can be withheld by filing a timely request for a hearing. No action will be taken until the hearing is completed and a decision is issued.

Borrowers may also object to a wage garnishment if the validity of the claim is in question or if the current enforce-ability of the claim is barred by law. The borrower is responsible for providing documentation or evidence to corroborate any objections raised in defense to the enforcement of the debt. It would be in your best interest to learn all you can about garnishment law.

About the author: Henry Byers, Retired IRS Manager and IRS Wage Garnishment expert - focusing on State Garnishment and Wage Garnishment

Student Loan Consolidation Programs - How To Take Advantage of Debt Consolidation

2009-01-12T05:04:00.001-06:00

Author: Dean Shainin

The primary factor to keep in mind regarding a student loan is that it is not a determent or expense but rather an investment, for yourself. When you finish your college education, it will lead you to a satisfying job and more earnings during the course of your career.

Never let the weights of your student loans influence your credit. Take into consideration of consolidating your loans so it will be easier for you to pay them back.

A student consolidation loan program permits students to join together all unsettled and unpaid loans. For instance, when a certain student has four separate or individual loans, all can be consolidated into just one loan, if the student chooses to. Theoretically, all four loans will be regarded as paid and another loan will begin as replacement.

3 Benefits of Student Loan Consolidation Programs

1. It is simple and convenient. When you have multiple loans, this means making several monthly payments; with this comes a lot of paperwork as well as keeping track of a lot of different due dates. With a student loan consolidation, there will only be one loan payment every month, making it more manageable.

2. Students can save money. For instance, a student having four unsettled loans can be obliged to pay $150 every month to all four lenders, which will amount to a total of $600 every month. After consolidation however, you are only required a single payment each month which will be of a lesser amount compared to all four payments combined. This can be an enormous saving for such students just starting on their jobs and do not have yet the wages or earnings needed to pay such a large amount of loan immediately.

3. It can open up added opportunities. Students can be granted deferment options as well as extra repayment chances. This additional flexibility may be beneficial for certain students wanting to continue or resume their schooling further, striving to locate employment or going through financial difficulty.

Check before getting a student consolidation loan rate and plan of payment.

The most evident way to acquiring the best student consolidation loan payment and rates is by possessing good credit. It will be easy to acquire an excellent student consolidation loan plan if one has a credit score more than 660 (FICO score). However, there are also a lot of ways to acquire the best student consolidation loan payment plans and rates.

A quick Internet search and examination on credit scores and FICO is needed in order for you to learn and get the information necessary so you can analyze your credit score.

Being aware of your credit history is one way to check your chances of acquiring the best student consolidation loan rates. Regularly examining records or documents of your finances is one good habit and can be of great help to determine your ""student-loan-worthiness.""

Student loan consolidation rates and programs can differ from one person to another. The rates being offered are based on one's financial standing and credit. Generally, if one has a FICO score of 600 or less, getting a suitable student consolidation loan rate and proposal can be a challenge.

Always take into consideration the outlay.

Remember too, that even if consolidation can make loan repayment easier and decrease your payment each month, it can also indicate an increase in the total outlay of paying back your loans. Consolidation offers lesser amount in monthly payments by granting borrowers a maximum of thirty years to pay back their loans; you create a lot of payments as well as pay extra in interest.

In fact, there are situations wherein consolidation doubles the total interest cost; so if you don't really require monthly payment assistance, you must evaluate the cost of paying back your loans which where unconsolidated in contrast to the cost of paying back a loan consolidation.

Note that the moment you consolidate your student loans, they are all used up and you can never go back. With the fact that you can only consolidate only once, you have to be certain that it's the best and guaranteed financial attempt that you can generate before carrying on.

About the author: Dean Shainin is a consultant specializing in student loan consolidation. Get valuable resources, tools, information and more articles on student loan consolidation, visit this site:

Student Loan Consolidation

Federal Student Loan 101

2009-01-10T05:04:00.001-06:00

Author: Natalie Aranda

Approximately $60 billion is allocated every year by the Federal Government to be disbursed among needy students as grants and loans, to pursue post secondary or higher education. Though it is not the only source of Government education funding, the Department of Education's Federal Student Aid (FSA) is the largest student's loan-funding source in America.

The starting point of getting Federal student loans is to fill out the Free Application for Federal Student Aid (FAFSA) form, which can be done electronically. To be eligible for a student loan you must be a US citizen or an eligible non-citizen, posses a high school diploma or a General Education Development (GED) certificate and you must be demonstrably genuinely in need of financial assistance for studies. On top of it all, you must be pursuing or preparing to pursue further education.

Conviction on charges of doing drugs or possessing of drugs can disqualify you from getting a federal student loan. But there may be chances of getting student loans from the states in such a case. So its advisable to fill out the form and verify the status later.

Its better to obtain student loan directly from the government agency and not through some private agency that may be a scam. Millions of dollars are pocketed by such frauds depriving the real beneficiary from furthering their career. For more information on this, contact -1-877-FTC-HELP (1-877-382-4357) or visit www.ftc.gov/scholarshipscams.

Student loan is awarded basing on the need evaluated by the government, unsubsidized Stafford Loan being the exception. Expected Family Contribution (EFC), the information about your family income is instrumental in determining how much a loan applicant would get. All these facts are derived once the student fills in the FAFSA form furnishing relevant details.

There may come a time after availing a student loan when you feel that the existing interest rate on your loan is high and that direct

student consolidation loans would offer you a lower rate of interest then you should go for a direct student consolidation loan. If you are close to default or having trouble with paying monthly installments direct student consolidation loan would help you. A six months grace period before repayment starts can be availed if you consolidate while in school. Direct student consolidation loan renews your deferment options if you have exhausted deferment options on the existing federal student loan. Direct student loan consolidation can be utilized by any Federal student loan beneficiary and what more it's free of any cost.

About the author: Natalie Aranda writes about money and personal finance .

Student Loan Consolidation Rates - Helpful Tips

2009-01-09T05:04:00.001-06:00

Author: Dean Shainin

Student loan consolidation has many benefits. Before you sign up on the dotted line, you should know how to get the best student loan rates. If you are tired of too many bills and monthly due dates, it may be time to find the best student consolidation loan you qualify for.

The most obvious way to get the best student consolidation loan rates, is by having great credit. It's easy to get great student consolidation loan rates with a FICO score over 660. But, there are several ways to get the best student consolidation loan rates.

Know Your Credit Before Shopping For Student Consolidation Loan Rates

By doing a simple Google or Yahoo search on FICO and credit scores to find the information you need to check out your credit score. This really should be your first step to getting the best student consolidation loan rates. With knowledge, you will get the best student loan consolidation rates for your financial situation.

Student consolidation loan rates can vary from person to person. The student consolidation loan rates offered will be based on your financial situation and FICO score. With a FICO score under 600, you will have a tough time getting a good student consolidation loan rate.

Refinancing And Home Equity Loans Used For Student Loan Consolidation

With a home equity loan, you can get the best student consolidation loan rates possible with good credit. Secured by your home, a student consolidation loan can help get rid of your high credit card rates and loans. You will have less bills to pay, with the best student consolidation loan rates to lower your interest on several loans.

Refinancing your home mortgage may be an option to get the best student loan consolidation rates.

The important thing to remember with home equity loans and refinancing, is to be logical and don't let your emotions get the best of you. You may get the best student consolidation loan rates available, but you still have to pay back the loan over time.

It's best to take the time to sit down and research all your options that are available to you to get the best loan and interest rate.

Resources Online For Getting The Best Student Loan Consolidation Rates

With today's Internet resources, you have an advantage when looking for the best student loan consolidation rates online. Take time to get educated on the process of getting the best student consolidation loan rates, and you can save yourself thousands of dollars on the student consolidation loan rates available, with just a few clicks of the mouse.

The idea is to combine all your current debts that you owe into one large debt with the lowest interest rate possible. Instead of making monthly payments on several high interest loans ranging from 12% to 28%, you can make one payment each month to one company.

Today's career minded students can get help with the burden of having several student loans. You can focus on your career, instead of losing sleep over paying several monthly loan payments. Student loan consolidation can be the solution with many advantages. With today's Internet technology, you can get a student loan consolidation quickly and easily.

About the author: Dean Shainin is a consultant specializing in student loan consolidation. Get valuable resources, tools, information and more articles on student loan consolidation, visit this site:

Student Loan Consolidation

How To Stretch Your Student Loan

2009-01-08T05:04:00.001-06:00

Author: Rachel Lane

http://www.moneynet.co.uk/student-finance-guide/index.shtml ), whilst the money section on support4learning is also a popular internet resource. ( http://www.support4learni ng.com/ ).

If you're concerned about getting the maximum amount of interest on your loan, you could try doing a savings comparison search on the internet. Sites such as moneynet.co.uk ( http: //www.moneynet.co.uk/banking-saving/index.shtml ) and reviewcentre.com ( http://www.r eviewcentre.com/products2312.html ) allow you to compare different accounts alongside each other.

http://www.channel4.com/4money/banking/feat ures/account_aggregation_161204.html )

* * * * * * * * * * * * *

About the author:

About Rachel:

Rachel writes for the personal finance blog Cashzilla.

http://www.cashzilla.co.uk

Student Loan Consolidation Can Help

2009-01-07T05:04:00.001-06:00

Author: Dean Shainin

Today's career minded students can get help with the burden of having several student loans. One can focus on their chosen career, instead of losing sleep over paying several monthly student loan payments. Student loan consolidation can be the solution with several advantages.

How Student Loan Consolidation Works

Here is typically how a student consolidation loan works. When a student first applied for several loans from several different agencies and student loan providers, they each gave a different interest rate and term for paying back the loans. The idea of student loan consolidation, is to take all the different student loans and put them into one easy convenient loan. You them only have to make one monthly loan payment every month, instead of several loan payments every month over time. This saves the student both time and money. Having a lower interest rate and less checks to write every month are a couple of advantages of doing a student loan consolidation.

5 Helpful Benefits of Student Loan Consolidation

1. Lower Monthly Payments. Depending on your student loan situation and the type of lender you choose, you may be able to lower your monthly payments by up to 50%

2. Having Simple Loan Payments. By consolidating your student loans, you only have one loan payment per month and one check to write. This is very beneficial if you are writing several checks every month to multiple lenders.

3. Having Fixed Interest Rates. With some federal consolidation loans you can have a fixed rate for the life of your student loan. It's best to do research to see what the best interest rates and term you are eligible for. You can check online to calculate the interest rate on a new student consolidation loan based on the rates of your current student loans. You can then round up to the nearest 1/8th of a percent of the weighted average of the interest rates on your eligible student loans.

4. Extending Your Payment Period. You may have a lot of student loan debt. With federal consolidation loans you may be able to extend the payment term up to 30 years. It's a good idea to realize you will end up paying more interest over the life of your student loan consolidation. The idea is to get some leverage until your career takes off. You can focus on making money instead of several monthly loan payments.

5. In School Consolidation Programs. While still in school, eligible students can lock in a low rate. This would put you into repayment status, but since you are still in school, you are automatically put into deferment. The drawback of consolidating your loans while in school, is that you lose your 6 month grace period. The solution to this would be to request forbearance for up to 1 year on your student loan consolidation. Here again you can do some research and get more information online.

Student Loan Consolidation Help Online

With today's Internet technology, you can get a student loan consolidation quickly and easily. The Internet makes research and finding great programs, easy as a few clicks of the mouse. You can learn everything you need to know from information sites that provide the latest news and data in regards to student loan consolidation. With just a few clicks of the mouse, you now can get loan quotes and compare loan companies without having to run all over town.

Student Loan Consolidation Helps Relieve Stress

Student loan consolidation can help student loan borrowers focus on their education, instead of debt. With a single new loan and lower monthly payments, you can focus on what's most important, education and your new career. There is no need to lose sleep stressing out about how you're going to pay back all those student loans. There are several agencies and companies online that can help with many resources and information to get the help you need.

About the author: Dean Shainin is a consultant specializing in student loan consolidation. Get valuable resources, tools, information and more articles on student loan consolidation, visit this site:

Student Loan Consolidation

Bad Credit Student Loan - What To Do If You Need One

2009-01-06T05:04:00.001-06:00

Author: Mark Kessler

Are you concerned that bad credit will prevent you from going to college? While it is true that finding student loans with excellent interest rates is easier if you have a sterling credit rating, bad credit student loan aid is possible. For example, the most popular US Department of Education loan, the Stafford loan, assumes that most applicants will be going to college straight from high school, and will not have a credit rating yet. Therefore, Stafford loans do not even consider the credit rating a factor when it comes to qualifications. The same holds true for Perkins loans, which are federal loans designated for the neediest students. The only reason bad credit would interfere with these kinds of student loans are if you have defaulted on a federally granted student loan in the past.

Bad credit student loans are also possible if your parents have better credit than you do. In this case, a PLUS loan, which is granted to parents and not to the student, might be the way to go. US Department of Education student loans (like Stafford and Perkins loans) assume that the parents will pay for a certain amount of their children's schooling; PLUS loans are intended to cover the amount that the parent is obligated to contribute toward college costs.

Federal funding is a good choice for a bad credit student loan because they are specifically designed to help make college more accessible; therefore, their requirements are much looser than those of most banks and other lending companies. However, if you are unable to secure a US Department of Education student loan, you may need to turn to private loans. If you are planning to graduate in a field with a high earnings potential, like law or medicine, you might have a better chance of receiving a bad credit student loan from private lenders.

None of these choices are either/or possibilities, by the way. You may be able to put together enough money to finance college through a combination of any or all of the above types of loans. Moreover, even if your bad credit student loan is at a very high interest rate, all is not lost. Many student loans defer payment until you have finished college, giving you time to improve your credit rating. At that point, you might want to look into ways to consolidate your student loan at a better rate, lowering your payments to a more affordable level.

About the author: Mark Kessler's Student Loans 411 is a comprehensive free resource of college financial aid, including a variety student loan articles.==> Bad Credit Student Loan

I Can't Pay my Loan-Student Guidelines for Recovery

2009-01-05T05:04:00.001-06:00

Author: Jay Moncliff

You graduated and now your student loan is due. The job hasn't come through yet, or you are just in over your head. What can you do about that student loan?

Before you enter the default stage, relax and review your options. Realize that you aren't alone. Unfortunately, since so many former students default on their loans each year, the Department of Education has a well-oiled process of collecting payments from those who default.

If you just stop paying, or never begin making payments when they are due, you can expect the Department of Education to take action to collect your student loan. There are several drawbacks to procrastinating. First, they will add substantial collection fees to your outstanding balance. You owe enough already, but they are going to want extra to track you down and force you to pay.

The IRS works closely with the Department of Education, and they'll take any tax refund that you might be due. That's right, they'll turn it over to the Department of Education without a second thought.

Finally, once you do get a job, they can garnish your wages. Not only will they get the collection fees and hit your take home pay, but your employer will know you defaulted on your loans as well.

If you default, your credit will be damaged. This will prevent you from getting the best available financing deals, a mortgage and possibly even a job.

Want to avoid all that hassle? First, realize that you do have options. Shirking your responsibilities should be the last option. Contact an Ombudsman at the Department of Education (877-577-2575). Review your options and choose one that you can live with.

You may be able to defer your loans. This program allows you to defer, or put off, payments on principal, interest or both under some conditions. If you're out of work but looking for a job, experiencing a financial hardship or going back to school you may be able to put off paying for awhile. You must apply and be approved, so be proactive and request the paperwork from your lender before you find yourself in default.

Most loans have a provision for cancellation. However, canceling a student loan is very difficult. If you meet one of the requirements you can apply for a cancellation by completing a form provided by your lender. Some of the qualifications include total disability, either permanent or temporary, death, providing instruction or other services to needy populations or entering a rehabilitation program for your disability. Serving in one of the armed forces may also allow you to cancel your student loans under certain circumstances. Cancellations are hard to obtain and will always require documentation of your condition or situation.

If you find yourself in extreme circumstances, student loans can be discharged through certain types of bankruptcy. However, you must be able to prove that if you repaid the loan you would suffer severe financial difficulty, and most student loans can only be discharged through Chapter 13 bankruptcies in which you must repay a portion of your debt (usually pennies on the dollar).

Whatever your situation, deal with your student loan problem before it enters default. Whatever choice you make, don't ignore the problem. It won't go away, it'll only get bigger. Contact the Ombudsman at the Department of Education or your lender before you find yourself in default.

About the author: Jay Moncliff is the founder of

http://www.saving-loans.com a website specialized on Loan , resources and articles. This site provides updated information on Loan. For more info visit his site: Loan

Student Loan Consolidation - Is It Right For You?

2009-01-04T05:04:00.000-06:00

Author: Dean Shainin

You can benefit from student loan consolidation, but there are things you should consider. It's a good idea to start looking into how you can consolidate your student loans before the 6 month grace period ends. Big monthly student loan payments can be very stressful when starting a new job. When the bills are out of control and you're stressing out about how to keep track of when payments are due, it might be time to consider a student loan consolidation as an option.

When Should I Consolidate My Student Loans?

There has never been a better time than now to take advantage of the lowest interest rates in recent history. You can get the best deals for consolidating your loans and to lower those monthly loan payments. Student loan consolidation can save you hundreds of dollars on repaying your student loan with a lower interest rate.

What Is Student Loan Consolidation?

When a student first applied for loans from several different government agencies and loan providers, they each gave a different interest rate and term for paying back the loans. The idea of student loan consolidation is to take all the different loans and put them into one simple and easy convenient loan. You then only make one monthly loan payment each month over time. This saves you both time and money by having a lower interest rate and less checks to write every single month.

3 Benefits Of Getting A Student Loan Consolidation

1. Lower Interest Rate. Student loan consolidation can save you thousands of dollars.You may be using credit cards with 12% to 28% interest trying to keep up with your bills. This can cost you thousands of dollars when you pay the minimum monthly payments on high interest credit card debt. Having a student loan consolidation may be your best option if you can get lower interest rates when consolidating your student loans.

2. New Interest Rates. With a new student loan consolidation, you may be able to get a much better interest rate. Interest rates are now at an all time low. You may have been paying on debt you built up from several years ago, at high interest rates. Things change over time in the financial industry.

3. Relieve Stress. With a student loan consolidation you don't have to worry about several monthly loan payments and due dates. This in itself, can make a student loan consolidation worth your while. You can focus on your new career, instead of those nagging loan payments every month.

Student Loan - The Basic Facts

2009-01-03T05:04:00.001-06:00

Author: Joseph Kenny

Employment

Loans

So that means that for many students, the only method of paying for college that will be available to them is to take out student loans. Going into debt is always a commitment, and it can be especially stressful before you have even started working and aren't certain how you will pay back the loans. Student loans however, have a number of advantages over regular loans. First of all the rates and terms are more lenient. Student loans are likely to be at a much lower interest rate than most loans that will be available on the market for other purposes. They will also give you plenty of time to get on your feet and find a job after you finish your studies. This means they are not going to be due immediately after graduating.

About the author: Joseph Kenny is the webmaster of the loan information sites http://www.selectloans.co.uk/ and also http://www.ukpersonalloanstore.co.uk. At the Personal Loan Store you can find all the different loan types explained.

Bad Credit Personal Loans Venture Capital Student Loan Personal Bad Credit Loans People

2009-01-02T05:04:00.001-06:00

Author: Steve

Bad Credit Personal Loans

At some point during most peoples' lives there comes a time when borrowing money is the only option. This may be to buy a house, a car, for home improvements or simply to consolidate debts. Persuading financial organisations to lend money, especially large amounts, is easier for some customers than others. Those who find borrowing particularly difficult are people with a bad credit history. Bad credit includes County Court Judgments (CCJS), decrees and past credit history problems. However, not all is lost is for people with bad credit, for they can avail bad credit personal loans. Never hear of it! Do not worry; we will tell all about bad credit personal loans.

A bad credit personal loan is like any other personal loan that one might have availed of in the past. The only difference is that it is for those people who have a bad credit, or in simpler terms, people with a bad 'credit history'. There are numerous lenders who are ready to give a personal loan if one has a bad credit history. These lenders however, usually require the customer to own their own home as protection or mortgage. Repayments are calculated depending on the amount of money required and the length of time the loan would be required for. For example, the longer the loan is borrowed for the smaller the payments are, but the more interest the customer will pay. It is therefore essential, as the home is used as a guarantee, that the borrower is certain that the repayments can be met before an agreement is made.

Some lenders may consider one's credit rating through agencies before sanctioning a personal loan but that in most cases is a formality. Do not forget that they are there to give loan to people with bad credits only. However, if one has a very bad and unimpressive record in the past, he may be refused but that happens in only exceptional cases and surely, he can get his loan from some other lender. Rate of interests in bad credit personal loans may be high at times because they are being given to someone with a bad credit. That is the only disadvantage of otherwise a life-saving loan for many.

On the whole, bad credit personal loan is a boon in disguise for people with bad credit and may do wonders for them by rejuvenating their businesses or consolidating debts.

About the author: A bad credit personal loan is like any other personal loan that one might have availed of in the past. The only difference is that it is for those people who have a bad credit, or in simpler terms, people with a bad 'credit history'. There are numerous lenders who are ready to give a personal loan if one has a bad credit history. These lenders however, usually require the customer to own their own home as protection or mortgage.

Student Loan Consolidation, look this gift horse in the mouth. Part II

2008-12-31T05:04:00.001-06:00

Author: Ian McAllister

Student loan consolidation look this gift horse in the mouth. Part II

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Student loan consolidation is excellent - for for some people. Spot the hidden trap that could ruin your life... a clever animal can steal from a trap without being caught!

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* Part I Don't get into debt. Ways to avoid it.

* Part II This article

* Part III Idea beats student loan consolidation and creates a winning mindset.

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Part II

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Imagine two people

Each has a student loan consolidation debt of $100 000. The born loser will soon have borrowed more. The investor uses the student loan consolidation as a springboard to become a millionaire.

What's different between them? The mindset, and only the mindset. Get the right mindset.

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The big trap

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Have you a strong willpower? Will you go on a spending spree and owe $5000 on each card tomorrow? A student loan consolidation is not for you. Read Part III of this article.

Have you the will power to master your finances? Combine student loan consolidation with Part III.

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What is Student Loan Consolidation?

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You transfer all your existing loans to one low-interest account.

What's in student loan consolidation for you?

* If you have Stafford loans in the USA, you'll have a grace period of six months after graduation to take out a student loan consolidation.

* Interest rates are lower

* Easier to remember payment dates with one loan

* Improved credit rating

Credit cards might charge 20% interest. Wouldn't a student loan consolidation at 5% be better?

Look for extra discounts on student loan consolidation during the grace period. Do you get an extra discount after 2 years of prompt payments.

Do your homework properly. Were you only paying 3% fixed interest on your Stafford loans and interest rates have gone up to 8% variable rate on your student loan consolidation? How high could the rates go? If you get a fixed rate student loan consolidation, and new student loan consolidations fall to 3%?

Computers calculate your credit rating. Suppose you took out a subsidised and an unsubsidised Stafford loan for each of four years. Computers can't really think. They see that you have 8 long-term loans and never paid back a single cent. You're obviously a very bad credit risk before your student loan consolidation!

After your student loan consolidation computers see that you've only 1 loan and you're making regular payments. They give you an excellent credit rating. Don't spoil it with new credit card debts.

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Avoiding student loans

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In part 1 you read about vital life skills that mean lower student loans for student loan consolidation, or even none. You can make your money go twice as far, which means that you'll effectively be twice as rich, and the IRS can't touch you for it.

Without these life skills, you'll be helpless when you suddenly have to pay for food and lodgings, credit card, car loan, mortgage, health... it's never-ending! Many students can't handle it. Part III will help you even if you have a student loan consolidation.

Have you decided on student loan consolidation?

* Check how much they will lend

* Can you consolidate your other debts... credit card and car loan?

* Will you need proof of income?

* Can you choose between fixed and variable interest?

* Are there pre-payment penalties? Avoid them like the plague!

* What are the penalties if you default? If you are unemployed or lack self-discipline you are likely to default.

* What other loans must you get - mortgage, kid's schooling?

Avoid lenders that make you start repayments of your student loan consolidation the day after the grace period. Check for special incentives. A 1% discount after 2 years regular payments may not sound like much, but it adds up over time.

Negotiate. Lenders are eager to lend you money, however much they bluff. They are legally allowed to lend 35 times as much money as they have, and they make no profit until they lend it.

""No start-up costs"" may be good, but low interest rates and absence of prepayment penalties for your student loan consolidation are better.

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What's in Part III

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A better alternative to student loan consolidation?

* Build self discipline.

* How will interest rates for student loan consolidation change next 20 years? Don't know? Then student loan consolidation might not be the best bargain.

* You'll be in control... not at the mercy of student loan consolidation providers.

Don't be a loan addict all your life. The ideas in part III were used by an Australian to become a millionaire.

About the author: Ian McAllister managed to avoid student loans entirely. Read how in Part I. Also read about how to get out of debt. http://studying-techniques.com/student-loans.html (expanded part I)

http://studying-techniques.com/student-loan-consolidation.html (expanded parts II and III)

Student Loan Options For Financing Your Education

2008-12-29T05:04:00.001-06:00

Author: Sintilia Miecevole

When you begin applying for colleges, you will find that tuition and boarding fees are extremely expensive. Unless they are independently wealthy, few people can pay for college outright. If you do not qualify for scholarships, financing your education can seem virtually impossible, even with the help of regular financial aid grants. However, there are many low interest student loans available for students that qualify for them. Rather than putting off your education, you can borrow money and defer payment until your have graduated and have found a full-time job with which you can pay back what you owe.

The first step toward applying for student loans is to fill out a financial aid application form called the Federal Application for Student Financial Aid. Once you have been accepted to a college or university, you will be sent a packet of financial aid information. You will be asked to provide your own and your parents financial information so the aid agency can assess your need and your ability to pay. There are many government based grants, like the Pell Grant, that give money to low-income students and their families with no obligation to ever pay it back. However, grants can only pay for so much, and you will most likely require student loans to finance the rest of your educational expenses.

If the free financial aid you qualify for is not enough to cover your expenses, student loans can help you make it through college to get the degree you need to be financially successful later in life. There are many different types of student loans available for both conventional and nontraditional students. Federal education loans like Perkins and Stafford Loans can be funded by either the school, your bank, or by the U.S. Department of Education. Private education loans are not sponsored by the government and draw funds from a variety of different sources. If you are still considered a dependent, either you or your parents can apply for student loans to finance your education.

Guaranteed Student Loans, or Stafford Loans, typically have lower interest rates than private loans. These loans are guaranteed by the federal government, and they can be subsidized or unsubsidized. If you have a subsidized loan, the government pays your interest while you are in school. With an unsubsidized loan, you begin accruing interest while you are in school, but you do not have to pay it back until you have graduated. You must show financial need to obtain a subsidized loan, whereas unsubsidized loans are available to anyone who applies.

Often times, Direct Student Loans are the loan of choice for many students. Direct loans are handled directly by the school you are attending. These types of loans typically have lower interest rates than most others. Your college or university may obtain the funds from a variety of sources, but all of the payments are generally made to the school itself. Once you are finished with school, you typically have anywhere from six to nine months to begin paying back your accrued debt.

If you finish school and cannot afford to pay back your student loans, they may be placed in default. This affects your credit rating and can keep you from getting other loans in the future. You can be granted a deferment on your loans if you decide to continue your schooling in graduate studies, or if you are unemployed. Deferment, however, does not last forever. If you have many different student loans, you can often consolidate them using a consolidation service, or, if you have direct loans, you can consolidate through your schools lender.

About the author: With many years in the lending industry, Sintilia Miecevole's site http://www.fzloan.com will help you figure out what your college costs will be and investigate the various funding options that meet your needs including a loan. Visit http://www.fzloan.com for information on how to double your lifetime income over people with high school diplomas.

Understanding your ACS Student Loan

2008-12-28T05:04:00.001-06:00

Author: Mark Kessler

An ACS student loan is one that is serviced by Affiliated Computer Services, Inc., a company that is known for outsourcing technology and business solutions. Many universities use the ACS student loan because of the company's reputation for using technology to smooth over some of the more difficult aspects of loan services. With an ACS student loan, students can make payments online, instantly see the status of an account, change personal details like name and address, and receive email notification when payments have been processed.

A number of different financial aid programs fall under the heading of an ACS student loan. One of the major ACS student loan groups is the Campus Based Student Loan Program (CBSL), which includes Federal Perkins Loans, Nursing Student Loans (NSL), and Institutional Loan Programs, among others. Another major group of educational loans handled by ACS is the Federal Family Education Loan Program (FFEL), which includes the Stafford (GSL) Loans, PLUS loans to parents of students, and loan consolidation services . ACS also handles a group of educational loans donated by a variety of private companies.

For those who do not already have an ACS student loan, applications and guidelines for different financial aid options are available online. The ACS website gives a clear example of how to fill out a Free Application for Federal Student Aid (FAFSA) form, and demonstrates what the results mean in terms of your eligibility for financial aid. Furthermore, applications for both Stafford and PLUS loans for parents can be found on the ACS website, and can be completed and sent in online.

If you have an ACS student loan already, you might be interested in learning about the benefits of studen t loan consolidation . The ACS website provides information and application forms that could help you lock in a lower rate and reduce your monthly payment amount.

Other tools that might help you with your ACS student loan include a repayment calculator, IRS guidelines about how to use your student loans for tax relief, and a glossary of important student loan-related terms.

All in all, an ACS student loan is one that will give the borrower the most ease and flexibility when it comes to loan servicing from application to repayment and consolidation. ACS works with a number of universities across the United States, including the University of Pittsburgh and the University of Vermont. Even if your specific university does not offer student loans handled by ACS, their website is a treasure trove of helpful tools and information, and well worth a look.

About the author: Mark Kessler's website Student Loans 411 offers a comprehensive free resource of college financial aid for Consolidating Student Loans, Alternative Student Loans, ACS , Bad Credit, US Department Of Education Student Loans, including a variety student loan articles.

Student loan debt cannot be wiped out through a bankruptcy filing

2008-12-26T05:04:00.001-06:00

Author: Talbert Williams

Recent legislation passed by Congress has brought about the most sweeping changes in U.S. bankruptcy law in twenty five years. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 will eliminate the opportunity for most Americans with debt problems to file for bankruptcy under the rather forgiving Chapter 7 of the bankruptcy code. A Chapter 7 filing allows the court to wipe out most personal debt, allowing the debtor to begin over again and make a fresh start.

Proponents of the bill, including the major credit card companies, claim that this is costing them millions of dollars per year. The new law will require most filers to file under Chapter 13 instead, which requires a five year, court-ordered repayment plan. The credit card companies say that this will save them money, and that savings can be passed on to customers. Some filers will still be able to file under Chapter 7, provided that they pass a ""means test"" which determines their eligibility in terms of annual income.

Most will have to file under the more stringent Chapter 13. One thing will remain the same no matter how the debtor files for bankruptcy - student loans are exempt from being eliminated in court.

Bankruptcy is not a free ride; it does come with some strings attached. The filing will remain on the debtors credit report for ten years, and may affect future attempts to obtain loans, housing or a job. Furthermore, the debtor may not file for bankruptcy again for another six years, so any debts incurred after the filing must be paid in full.

Several years ago, Congress enacted legislation that exempted student loans from elimination through bankruptcy. This applies not only to Federally issued student loans, but also to privately funded, for-profit loans. What this means is that anyone with a student loan, even if it amounts to more than $100,000, must repay it, even after filing for bankruptcy. Other personal debts may be wiped out, but the student loans will not go away.

For those with large student loan obligations, it may be worth their while to seek consolidation through their lender. If that is not an option, the borrower should see if it is possible to negotiate a more favorable repayment plan. It may also be possible to consolidate the payments through another loan, such as a home equity loan or home equity line of credit (HELOC)

Should any of these options not be workable, then those with student loans should be aware that their lenders and the lenders debt collectors will be remaining in touch for a number of years to come. Money spent on education is certainly money well spent, and Congress has made it clear that if you borrow money to pay for education, you will have to repay it.

About the author: Talbert Williams offers debt consolidation, debt reduction, credit card debt referrals and advice. For more information, articles, news, tools and valuable resources on debt solutions, visit this site: http://www.1debtfreedom.com/conversion

Why Now Is The Best Time To Consolidate Your Student Loan.

2008-12-25T05:04:00.000-06:00

Author: Jeffrey Cash

If you are thinking about using loan consolidation to possibly lower your monthly student loan payments, then now is the time to start consolidating and lowering those payments. Never in recent history have the interest rates on student loan consolidations been quite as low as they are these days. What does that mean for you? Quite simply, you will be receiving the best available deals for debt consolidation when you choose to consolidate your student loans now and here. Whether you have just a small amount of student loan debt or a very large amount, consolidation can start helping you to lower your monthly payments NOW if you get started on it right away.

Start on the net. Where is the best place to turn when looking to receive consolidation on your student loans quickly and easily? A good place to start might be the Internet. Research exactly what student loan consolidations can do for your financial status. Secondly, visit a web site where you can learn about the latest trends in debt consolidation for student loans. Additionally, you can contact their financial advisors, who will walk you through the debt consolidation process and make sure that you save as much money as possible paying back your student loans.

Now is the Time Once you have started the process, you can sit back and know that student loan consolidation is saving you hundreds of dollars a year on repaying your student loans. While the process is not complex, it is important for you to work with a trusted name when using debt consolidation. Some companies will simply rip you off and end up costing you more money than they save. You may be at a disadvantage with your debt hanging over your head, but that does not mean that you cannot receive a great deal through consolidation! Consolidate NOW and start saving with the ultra-low consolidation interest rates out there these days. You will thank yourself in a few years.

If you have student loans, consolidating can simplify repayment and lower your monthly payments. Student Loan Consolidation can combine your existing loans and deliver great benefits.

The Federal Consolidation Loan is one of the best ways to streamline repayment. All of your federal loans can be combined into one new loan with one monthly billing payment, eliminating bills from multiple lenders. Consolidation also decreases the likelihood that you will miss a payment, helping you to maintain your good credit.

Consolidating can extend your repayment period up to 30 years based on your overall outstanding loan balances. The longer terms result in significantly lower monthly payments. Plus, there are no penalties for prepayment.

In summary, student loan consolidation allows you to:

Lower your monthly payments Enjoy no additional fees and no credit check Lock in a new low rate for the life of the loan Extend your repayment period up to 30 years Receive one convenient monthly student loan payment

About the author: Jeffrey Cash for more helpful information please visit: Mrquikcash.com

Guide to Finding an Alternative Student Loan

2008-12-24T05:04:00.000-06:00

Author: Mark Kessler

Although US Department of Education student loans are the most common form of financial aid, sometimes families find they need an alternative student loan to get their children through college. For one thing, competition is rising to secure the limited number of federal student loans, and if your application is not received early, you might not receive any aid. At the same time, the maximum loan amount available through a Stafford loan has stayed the same for over ten years, while tuition costs continue to soar. Furthermore, most federal student loans presume that parents will foot part of the bill, but some parents are unable or unwilling to contribute to the student's education fund, leaving even more money for the college applicant to come up with. If federal student loans are not enough to cover a college attendee's bill, then he or she needs to find an alternative student loan.

The most common form of alternative student loan is the private loan, which is offered by banks and other lending institutions. Students with poor or no credit might require a co-signer on the loan, however, and alternative loan rates might not be as stellar as with Department of Education loans. The financial aid office of most universities will be able to help students find a banker that offers an alternative student loan at a fair interest rate. The personal bank of the student's parents might also offer educational loans. Young adults searching for an alternative student loan should be very careful to read the fine print of any private lender and to shop around to receive the best rates.

Of course, before signing on the dotted line, students might consider ways to avoid an alternative student loan altogether. Some creative ways to lower college costs include researching accelerated study courses which take less time to earn a degree, attending a less expensive community college for the basic credits and then transferring to a more prestigious school for the last few years (and the precious degree), and scholarships.

There are oftentimes more scholarships available than people realize; a local grant may be enough to bring college expenses to a manageable level. There are even colleges that charge no tuition at all, requiring instead that their students work a few hours a week at jobs related to their course of study. Not only is this a way to secure an inexpensive education, but it also provides valuable experience in your field. Finally, some investment groups offer creative ways to fund college by banking on the student's future earnings. They will pay the college costs in exchange for a percentage of future earnings (usually between 1% and 4%) for a fixed period.

Whether you finance your college fees through alternative student loans or simple ingenuity, there is no reason today for tuition costs to hinder students from receiving an education. Even if federal student loans do not seem to be enough, there are many ways to get an excellent education and to secure a brighter future.

About the author: Mark Kessler's website - Student Loans 411 is a comprehensive free resource of college financial aid for Alternative Student Loans, along with, Consolidating, ACS, bad credit, US Department Of Education loans, including a variety student loan articles. ==> http://studentloans.seeking411.com/alternative.html

The Student Loan

2008-12-23T05:06:00.000-06:00

Author: John Williams

The rising costs of college tuition have made it almost a necessity to apply for a student loan today. Students not only have tuition costs, but the cost of books, meals, gas, cell phones, recreation, etc. The variety of student loans enables students to take care of their varying college expenses. A student loan however, is a loan that must be repaid under specified circumstances.

Each of the following are student loans with differing conditions and time frames for repayment:

* A Direct Student Loan is a loan with a schedule of repayment six to nine months after the student has completed school. The Direct Student Loan is distributed through the school the student is attending, which enables the interest rates to be much lower than a Guaranteed Student Loan.

* Guaranteed Student Loans, also known as Stafford Loans have a low interest rate. A student can apply for a subsidized or unsubsidized student loan. A subsidized loan means the government pays the interest for you while you are in school. The subsidized student loan is based on the students financial need. An unsubsidized student loan means you will be charged interest while you are attending school. The principal must start being paid after you have finished school. Both types of student loans need to start repayment six months after the student has finished college.

* Federal Parent Loans or PLUS loans as they are known is a student loan not contingent on your income, but lenders do consider personal credit history. Parents or guardians who have a dependent child enrolled in college at least part-time are eligible for the PLUS loan. The interest rate is 9% or less.

Virtually any school or program will allow you to utilize the Direct Student loan, Guaranteed Student loan or PLUS loan. It is very important to thoroughly research all available options for funding long-term education. Your future is tied to your funding, which is your student loan.

About the author: John Williams is the student loan blogger at http://studentloan.blogspot.com He reviews student loans and interprets often complicated financial data into simple to understand language.

Should you consolidate student loan bills?

2008-12-18T05:04:00.000-06:00

Author: Pete Glocker

Make the right choice on grace periods, length of loans and consolidation.

By: Pete Glocker

Let's see here, you just graduated college and got hired at your first job. It is now a month before holidays and (two, three or four) different loan companies send you statements in the mail informing you that you have to start paying on your student loans next month. You must be thinking, it is the holiday season and I have to buy gifts and pay my bills. How am I going to afford to start paying off my student loans? Here is how.

Grace Periods

Many recent college graduates choose the option to defer their loans for six months. That is how long the grace period is for student loans. It may be a good idea to take advantage of this option if it took you a while to find a job or if you are starting out on a low salary. Most entry-level positions do not offer the highest salaries. However, if you do have a decent salary job or if your loan is not tremendously high, it may be smart to start paying right away because the faster you can pay off your student loan, the easier it would be for you to buy a house and save money for the future. Remember, you will have to eventually have to pay back your student loan, so the longer you prolong paying, the more time it will take you to pay it off and the more it will cost you in added interest charges.

Length of Loans

Student loan repayments are usually scheduled over ten years. Lenders can have the option to have floating interest rates on loans, but cannot exceed 8.25 percent due to Federal Government laws. So obviously, the shorter the length of the loan; lenders have less of an opportunity to change your interest rates. Many lenders give you the option of extending your repayment length. Students with $60,000 or more in student loans may opt to extend their payment period up to thirty years. Basically, it is common since; the shorter the payment period of the less money you will spend on interest.

Consolidation

If you have three or more different lenders like most students with the government issued Stafford Loans, it is definitely in your best interest to consolidate them into one. The reason being, you can have one loan with a locked low interest rate. Most consolidated loans have an interest rate of five percent or less. So instead of paying three different payments with different higher interest rates, it is best to have one lower fixed rate.

Remember, student loans are a financial obligation that will affect your credit history and influence your credit score .Be responsible, pay them off in a reasonable amount of time, pay them off sooner and you could save thousands of dollars in interest. The dollars you save could be the down payment on your first home.

About the author: NonePete Glocker is employed in the Education and Charitable Services Department at Debt Management Credit Counseling Corp. (""DMCC""), a 501c(3) non-profit charitable organization located in Boca Raton, Florida. Pete graduated from Florida Atlantic University with a BA in Multimedia Journalism and is an experienced web producer for Tribune Interactive products Sun-Sentinel.com and SouthFlorida.com. DMCC provides free financ

Student Loan Consolidation Rates Set to Increase on July 1

2008-12-17T05:04:00.000-06:00

Author: Vanessa McHooley

Congress voted on and passed Feb. 1 the Deficit Reduction Act of 2005 that included massive cuts to federal student loan programs. The $11.9 billion in student loan cuts, including changes in laws regarding student loan consolidation, will negatively impact those students seeking a college education and others seeking to consolidate their higher interest loans. The industry expects a rush of students seeking to consolidate at the current low rates that are set to increase on July 1.

The Deficit Reduction Act of 2005, S. 1932, was narrowly approved Feb. 1 by the House of Representatives. Passing by a two-vote margin of 216-214, S. 1932 was signed into public law Feb. 8 by President Bush, thereby approving the $11.9 billion in student loan cuts over the next five years.

Students and graduates now are in jeopardy. With college costs increasing every year and the forthcoming higher interest rates on student loan consolidation, college students are rushing to consolidate before the July 1 rate increase.

Student Loans Take the Hardest Hit

The cuts to federal student loans are the worst among cuts to other federal programs including Medicaid, Medicare and food stamps.

A majority of the legislation's provisions to student loans will take effect on July 1 and others will be implemented over time. Some provisions include an increase to 6.8 percent for federal Stafford Loans, from rates as low as 4.7 percent. PLUS fixed interest rates will jump to 8.5 percent, from 7.9 percent. The legislation leaves consolidation loans current fixed rate in place.

Consolidate Student Loans Before July 1 Rate Increase

With student loan consolidation rates set to skyrocket on July 1, now is the time for students and graduates to consolidate, according to NextStudent, the Phoenix-based education funding company. Students and graduates now are urged to consolidate as current consolidation rates can be as low as 2.75 percent with benefits applied. Other incentives to consolidate include a longer payment term, one monthly payment and no prepayment penalties.

The following are other provisions affecting student loan consolidation that take effect July 1, 2006. Students and graduates should be aware of the new regulations so that they now can take action:

Consolidation Loan Changes - Single holder rule is not changed - Eliminates in-school and spousal consolidation options. - A subsequent consolidation loan may be made in the DL Program only if the FFELP borrower wishes to obtain an income contingent repayment plan and, the borrower is trying to avoid default, but that is conditioned by the requirement that such a loan has been submitted to a guaranty agency for what used to be called ""preclaims assistance"" but is now labeled as ""default aversion."" - Also, in the Conf. Rpt. is a provision providing that only if a FFELP borrower has an application for a consolidation loan rejected by a lender or the application is rejected because the borrower wanted income-sensitive repayment terms, then the borrower can receive a direct consolidation loan. - A borrower with a defaulted loan can receive a DL consolidation loan to resolve the default. - Unless otherwise specified the terms of DL consolidation loans are the same as FFELP consolidation loans.

Approval of the Deficit Reduction Act brings major cuts to student loans and a change in regulations regarding student loan consolidation. Although the legislation has changed to the detriment of those seeking a higher education, students and graduates still have the option to consolidate before the interest rate is set to increase on July 1.

About the author: NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding as easy as possible. Learn more about Student Loan Consolidation at http://www.nextstudent.com

Is A Student Loan Consolidation Or Federal Student Loan Consolidation Right For You?

2008-12-16T05:04:00.000-06:00

Author: Dean Shainin

With the cost of education going through the roof, going to college can be very costly. Many students don't have thousands of dollars to pay their way through college. This is why so many college students use student loans and federal student loans to get themselves through college. When it comes time to pay back their student loans, it can be a real burden and a distraction from their career.

How Does Student Loan Consolidation Work?

The idea of student loan consolidation, is to take all the different student loans and put them into one easy convenient loan. You then only have to make one monthly loan payment every month, instead of several loan payments every month over time.

This saves the student both time and money. Having a lower interest rate and less checks to write every month are a couple of the many bebefits of doing a student loan consolidation or federal student loan consolidation.

What About Federal Student Loan Consolidation?

There are several advantages when you get a federal student loan consolidation. You can take advantage of fixed interest rates, lower monthly payments, one payment each month, get payment incentives and new or renewed deferments.

There is usually not a minimum loan balance required with this type of loan program. Also, you have the option of which loans you may want to include and money saving payment incentive plans with some federal student loan consolidation programs.

Another benefit is that you can consolidate your undergraduate loans if you are still in graduate school. You can decide on what loans you want to consolidate from the loans that qualify.

However, federal student consolidation loans can't include loans you may have received from banks, credit unions, personal loans, consumer debt loans or any other type of financial service loans you may have applied for in the past. They have to be federal student loans to qualify.

8 Helpful Benefits From Student Loan Consolidation

1. Lower Monthly Payments. Depending on your student loan situation and the type of lender you choose, you may be able to lower your monthly payments by up to 50%

6. Lower Interest Rate. Student loan consolidation can save you thousands of dollars. You may be using credit cards with 12% to 28% interest trying to keep up with your bills. This can cost you thousands of dollars when you pay the minimum monthly payments on high interest credit card debt. Having a student loan consolidation may be your best option if you can get lower interest rates when consolidating your student loans.

7. New Interest Rates. With a new student loan consolidation, you may be able to get a much better interest rate. Interest rates are now at an all time low. You may have been paying on debt you built up from several years ago, at high interest rates. Things change over time in the financial industry.

8. Help Relieve Stress. With a student loan consolidation you don't have to worry about several monthly loan payments and due dates. This in itself, can make a student loan consolidation worth your while. You can focus on your new career, instead of those nagging loan payments every month.

Taking Advantage Of A Federal Student Loan Consolidation Program

2008-12-15T05:04:00.000-06:00

Author: Mark Woodcock

Earning a college degree is one of the most important - and expensive - things you will do in your life. If you are able to attend college without having to take out any student loans, you are one of the lucky few. Most individuals have to borrow at least some of the money they need for tuition, books, and living expenses. And upon graduation, you are faced with the challenge of repaying all of those loans after the grace period ends, whether you are employed or not. That can be a hard dose of reality when you realize that not paying your loan payments on time, or not paying them at all can have grave consequences where your credit rating is concerned. That is why it is smart to consider a federal student loan consolidation program.

Loan consolidation entails taking out a single loan in order to pay off several others. This is done for convenience, as you can often get a lower interest rate, and you only have 1 monthly loan payment to keep track of. It is also good for your credit history. Often, student loans are guaranteed by the United States government. With a federal student loan consolidation program, currently held loans are purchased and closed either by a loan consolidation company or by the U.S. government. Who handles the loans depends upon what type of federal loans the borrower has.

The interest rates for Federal student loan consolidation programs are very reasonable. They are lower than your average bank loan. They are calculated based on the current year's student loan interest rate, and in turn calculated based on the 91-day Treasury bill (a government bond used as a debt-financing vehicle of the U.S. Federal government) rate at the previous auction (held every year in may) of the year. The interest of student loans are variable, but can not go over the maximum of 8.25% for Stafford Loans and 9% for PLUS loans (Federal parent loans).

Student loan consolidation programs are available to former students who have more than a minimum amount of federal student loan debt (usually more than about $10,000). Parents with more than a minimum amount in PLUS loan debt are also eligible to consolidate.

If an individual chooses to consolidate his or her federal student loans, the loans can be consolidated through a private lender, and the borrower can only consolidate again through the U.S. Department of Education. Upon consolidation, the loan is charged a fixed interest rate that does not change even if the loan is reconsolidated. And, with a federal student loan consolidation program, there are no fees applied or closing costs to be paid. This differs from private lender debt consolidation.

Taking advantage of a federal student loan consolidation program can be beneficial to your credit history, by helping it stay clean. It is easier to keep track of and remit 1 monthly loan payment than to keep track of 2 or more student loan debts, especially if you move frequently. And losing track of a federal loan is never a good idea.

Loan consolidation is especially good if you are having trouble making all of your scheduled loan payments on time. Defaulting on your student loans is a very unfortunate situation to be in, and can lead to having property and possessions taken from you in order to pay the debt. You can also consider requesting loan forbearance from your lender, which allows you to take a break from your payments, or make interest-only payments. However, the longer you wait to pay your debt, the longer it will be hanging over your head. With consolidation, repayment is extended over a longer period of time which, in addition to the single lower interest rate you will have on your loan, they payment are lower and more manageable within your budget.

If you are interested in a student loan consolidation program, you can consult the U.S. Department of Education, or one of the lenders with whom you currently have a student loan for information. During the application process, you can learn exactly which of your loans qualify for consolidation (hopefully they all do!), and be on your way to more manageable student loan payments.

About the author: Learn the essential information for picking the right consolidation service at Student Loan Consolidation Program

Is A Federal Student Loan Consolidation An Option For You?

2008-12-14T05:04:00.000-06:00

Author: Dean Shainin

Another advantage is that you can consolidate your undergraduate loans if you are still in graduate school. You can decide on what loans you want to consolidate from the loans that qualify.

However, federal student loan consolidation can't include loans you may have received from banks, credit unions, personal loans, consumer debt loans or any other type of financial service loans that you may have applied for in the past. They have to be federal student loans to qualify.

What You Should Know Before You Apply For A Federal Student Loan Consolidation

There are several types of loans that qualify for federal student loan consolidation. When considering if your student loan can qualify, be sure to be very clear on interest rates and to see if you can save money with this type of consolidation loan. Sometimes student loan consolidation can increase your interest rate and cost you more than you are paying now.

Many federal student loans have a very low fixed interest rate already in place. This is why it is very important to be very clear on the rates from the plans you may be considering before you do a federal student loan consolidation.

What would be the point if you end up paying more for your consolidation loan? However, for some students it might be a good idea because of the hassles of trying to keep track of several student loan payments and monthly due dates.

Only you can decide if a federal student loan consolidation makes sense for your financial situation.

What Type Of Loans Qualify For Federal Student Loan Consolidation?

There are several federal student loans that may qualify for consolidation. Be sure to take some time to research the option you are considering and compare costs. You can use online calculators to get an estimate on payments. Check to see if your type of federal student loan will qualify for a federal student loan consolidation program.

10 Types Of Loans That Can Qualify For Consolidation

1. Federal Perkins Loan 2. Federal Stafford Loans 3. Federal Direct Loans 4. Federally Insured Student Loans 5. Federal Parent Loans 6. National Direct Student Loans 7. Nursing Student Loans 8. Health Education Assistance Loans 9. Health Profession Student Loans 10. Auxilary Loans To Assist Students

With some research and a little education you may be able to get a federal student loan consolidation to help ease the burden of having several student loans. You can focus on your education and new career instead of stressing out about trying to keep track of several loan payments and due dates.

With today's Internet access, you now have an advantage when considering a federal student loan consolidation as an option. You can easily see if you qualify and get the best loan program for your financial situation.

About the author: Dean Shainin is a consultant specializing in student loan consolidation. Get valuable resources, tools, information and more articles on student loan consolidation, visit this site:

Student Loan Consolidation

Student Loan Consolidation -- How To Make A Wise Decision

2008-12-13T05:04:00.000-06:00

Author: Ron King

Debt consolidation feels like instant freedom.

When you can not easily manage your debt, bundling it all up seems like a good idea. The most common way to do this is a debt consolidation loan. This loan takes all of your debts and wraps them into one loan.

Don't confuse it with bankruptcy, though. You still have to pay this money back. You are simply refinancing the money that you have borrowed.

Before you do this, you should know both sides of the story.

On The Good Side

Manage your money much easier with just 1 bill to pay each month. Gone is the anxiety as each bill comes in, like a Chinese water torture. Instead of incomprensible statements from credit cards, gas cards, student loans, and car loans, it can seem a blessing to get them down into one payment.

You'll get lower monthly payments. Since everything is tied into one payment, the amount that you need to pay monthly can be quite a bit lower.

Your interest rate is often lowered too. This is especially true on high rate credit cards.

Probably the biggest benefit is that you will not have to deal with creditors anymore.

On The Bad Side

It is crucial to realize that your debt is still your debt. It hasn't lessened and it hasn't gone away. You still have to pay it off.

It may take longer to pay off the debt. Because you have a lower monthly payment, you are likely to pay longer to get the loan down.

You will pay more in the long run. Finance charges and interest rates add up and they stretch out the amount that you owe for a longer period of time.

You will often need to secure your loan through property.

It may let you believe that you are more secure than you actually are. You may think that your debt is under control. And, you may think that you can keep spending now. That is not a good idea at all.

The Balance

When it comes to deciding on debt consolidation, look at all of the pros and cons.

You should shop around to find the lender who will offer you the best consolidation loan. You should examine the interest rate, the amount loaned, and whether it is a fixed or an adjustable rate loan.

You should know the type of consolidation loan that you qualify for and what the underlying factors are. Make sure to include whether you have a good credit rating, if you own equity, and whether you have a good amount of income coming in.

There are other forms of debt consolidation as well. One good one is a credit counseling service. These organizations help by working between you and the creditor. They can help to negotiate a lower interest rate from some lenders, as well as teach you how to more effectively manage your money.

Whichever path you choose, do it before the choices are taken away from you.

About the author: Visit Student Loan Consolidation to learn more. Ron King is a full-time researcher, writer, and web developer, visit his website at Articles for authors

Student loan consolidation, refinance and debt consolidation

2008-12-12T05:04:00.000-06:00

Author: Ken Bissonette

Student loan consolidation, refinance, debt consolidationfor your new life. Most people have their house and mortgage when they get married but some couples need to shop for a mortgage. Student loan consolidation, refinance, debt consolidation to help you with all your money concerns.

When you shop for the right Credit cards, e-money and free credit report for your house, you will need to be aware of the different ways of locking into your mortgage(mortgage calculator) . Finding the right rate for your mortgage can be a tedious business, but you can make this easy by doing your homework. Student loan consolidation, refinance, debt consolidation to help you with all your money concerns. Check all your banks and credit unions for your mortgage rates. (mortgage calculator)

Your mortgage shopping can make a big difference over 25 years. Your Student loan consolidation, refinance and debt consolidation can make your financial life better over the years to come. Your marriage will benefit if you both work at getting the low mortgage rate.(mortgage calculator) Have a profitable and fun shopping for your mortgage.

About the author: Information on Mortgages and Credit Cards for your finance needs

http://www.mortgage-cr edit-card.com

Student Loan Consolidation-The Good, Bad, and the Ugly

2008-12-11T05:04:00.001-06:00

Author: Dan Johnson

With tuition costs rising across the country, it has become increasingly necessary for college students to take on debt in an effort to get their degree. But student loan repayments are often difficult for students to make, especially considering that early on graduates incomes are typically quite a bit lower then their ultimate earning potential. Due to these circumstances, Student Loan Consolidation is a valuable option for many recent college grads to pursue.

How Student Loan Consolidation Works Student Loan consolidation works like most consolidation programs. A single lender takes on the various loans you have accumulated, like Stafford, Perkins, HEAL, NSL, and private loans. While the terms and repayment conditions vary among these many different lenders, a single loan consolidation company will pay off all these loans and offer you a single, typically longer term, loan. What this means practically, is that instead of having to pay off one loan in 3 years, another in 5, and another in 10, or having one loan's interest rate be fixed and another variable, all your loans are compiled under a single system. You can then negotiate with your loan consolidation lender, about the terms of the loan. Typically, students opt for a repayment plan of 10 to 30 years. Obviously, the longer the term of the loan, the lower your monthly payment will be.

Why Consolidate? Consolidating your student loans offers you the opportunity to stretch out your payments, so as to take advantage of your future earning power. It is quite reasonable for students to believe that they will earn more as their careers progress, and by stretching out the length of their repayments, they won't have to pay the most on their loan while their income is at its lowest point. Another benefit of student loan consolidation programs is that they take a lot of the confusion and problems out of student loan repayment. For recent graduates who have loans from a variety of public and private lenders, keeping up with the unique terms and conditions of every loan can often be a bit of a nuisance. For these reasons consolidation is a very popular option. But that does not mean that it is not without its costs.

Why Not Consolidate? Loan consolidation of any variety, is so appealing for lenders because they can charge relatively high ""consolidation"" fees. While student loan consolidation is regulated better than most forms, loan consolidation companies still manage to add quite a bit to the principle of the loan (that you will ultimately have to pay back) in the form of fees. One way to avoid this is to insist that you be offered the opportunity to pay for ALL consolidation fees upfront. By doing this, you can ensure that you will at least be made aware of the quantity of charges being imposed upon you. Another problem with loan consolidation is that by extending the terms of your loans (say from 5 to 15 years) you dramatically increase the amount of interest you pay on your loans. Your interest payments on your loans accumulate over time. This means that the longer you take to pay your loan back, the more interest will accumulate. Many students fail to notice this, as they only focus on the interest rate, and not the total amount of interest that will be paid over the life of the loan.

Student loan consolidation is a valuable tool for students who want to defer their repayments until they earn more or for those who find the nuisance of maintaining many of their individual loans to be too troublesome. It is important for recent graduates to consider, however, that these benefits, despite what lenders may lead you to believe, do not come without negative tradeoffs. By being aware of both the positives and negatives of student loan consolidation, you can make more educated decisions about the whether student loan consolidation is the right solution for you.

About the author: Dan Johnson enjoys writing about student loan consolidation .

Consolidation Loan Student Programs: Bringing Your Dept Under Control

2008-12-10T05:04:00.001-06:00

Author: Colin P

If you are like many students and recent graduates, you very well have amassed a great deal of student loan debt. In this regard, you may be looking for ways in which you can bring your outstanding student loan balance under control. You might want to consider the various consolidation loan student availabilities that you can take advantaged of in this day and age. Through consolidation loan student opportunities, you can take an affirmative step towards brining your outstanding student loan debt under control.

There are a number of benefits to availing yourself of what is available in the way of consolidation loan student availabilities. The primary benefit that you can obtain through utilizing and taking advantage of consolidation loan student opportunities is a savings in the amount of interest you have been paying on multiple student loans. As a general rule, consolidation loan student programs offer interest rates at a level under what you normally have been paying on your multiple outstanding student loans.

One of the other significant benefits of a consolidation loan student program is found in the fact that you will be able to relieve yourself of recurring late fees and related delinquent charges that you may be encountering in regard to outstanding student loans. If you are like many people who have racked up student loans, you very well may be facing ever increasing late fees and the like over time. Again, through consolidation loan student programs, you can rid yourself of the burdens of late fees and other charges.

An added benefit of taking advantage of a consolidation loan student program is found in the simple fact of convenience. If you have acquired a number of different student loans, you find yourself juggling multiple payments each and every month. This can be time consuming and even confusing in some instances. With the implementation of a consolidation loan student plan or scheme, you will only have to make one monthly payment, easing the burden of keeping track of a multitude of payments each and every month.

There are a number of different financial institutions that now offer consolidation loan student programs. There are companies that specialize specifically in offering people consolidation loan student opportunities. In addition to the companies that specialize in consolidation loan student programs, many traditional lenders (such as banks and savings and loans) now have implemented special consolidation loan student programs for students and graduates. Therefore, you have a variety of sources for a consolidation loan student program to chose from in this day and age.

By taking the time to shop around and consider different consolidation loan student availabilities you will be able to find a consolidation loan student program that best meets your needs and obligations. Through research and a bit of proverbial homework you will be well on your way to brining your student loan debt well under control, to bringing your financial house into order now and well into the future. Rather than continually paying for your education, you will make your education pay for you.

About the author: Further information can be found at http://www.personal-student-loan.info

Student Loan Interest

2008-12-09T05:04:00.001-06:00

Author: Tony Robinson

As a parent or student, the need to be informed about the benefits of student loans, the extremely low interest rates, and the tax benefit they provide has increased tremendously over the last few years as education costs have risen, and the need for every deduction and credit has also increased. The Internal Revenue Service and the US government have now included student loan interest as a tax deductible item on the personal tax return. The second, and perhaps most important reason, is due to the fact that interest rates on student loans are beginning to climb, several percentage points. As of August 1, 2005, the previous cap on the maximum student loan interest rate was repealed, and the new rates went into effect; what is the effect on existing student loans? What will the effect be on new student loans? How does this affect the bottom line of the students or parents tax return? These are questions that parents and students alike are seeking the answers to, prior to the rate change. Many of the organizations that offer student loan consolidation programs urged students to consolidate existing loans in order to lock in the low interest rate, while still available, as the new rates would definitely impact tax returns as the student begins to repay the loan, or the parent repays the loan.

Interest rates on federally subsidized loans do not have the tremendous impact on a student's finances when compared to unsubsidized or private issue loans. Deferred payment loans that also defer interest payments can generate extremely large additional amounts of debt for a student borrower because the loan is accruing interest on interest charges. Now, can you see how a change in interest rates would have a huge affect on student loans and student taxes?

In order to promote the advancement of continued education, the government has, over the last several years allowed the interest paid on student loans be a deduction on your tax return. This has helped ease some of the expense of college, but it isn't a direct form of relief. The individual claiming the deduction simply gets a portion of the interest deducted on their itemized schedule of deductions; it's not a dollar for dollar credit.

Deferred payment loans originally existed to create a buffer for the student borrower trying to attend school and work enough to keep up daily needs. Deferred payment allows the students to borrow, attend school without the worry of monthly loan payments, and then assume the responsibility for monthly payments upon completion of their degree. The government offers deferred payment loans to students in two forms, subsidized and unsubsidized. The subsidized loans are for students with a demonstrated financial need; the government pays the interest accrued until the student has finished or left school. Unsubsidized loans are not need based; the student is responsible for interest as it accrues on the loan. Either way, the interest is taken care of and paid monthly.

There are lenders today, who offer deferred payment loans simply because of the income they generate for the institution extending the loan. Students, who do not pay interest as it accrues, will pay interest charged on their interest balance each month. Many reputable lenders see this as an exploitation of the student, and do not even offer such a product. Private loan products offered through lending institutions, where there are no federal lending requirements associated with this particular loan product and the student's school status in relation to financial need, have made a business of deferred payment loans. These very profitable loan products are often offered to students, who do not realize or necessarily understand the concept of the interest charge incurred on interest accrued.

Deferred payment loan products offered within the boundaries of the federally subsidized or unsubsidized guidelines are tremendously helpful to students and parents during these lean years of college funding; some of the private loan products, however, merely take advantage of the financial needs of student borrowers. Read carefully the terms and conditions of your loan and if offered the opportunity, make interest payments as the interest accrues. Your student loan debt at the end of the deferment period will be much smaller if the interest due each month has not been added to the amount due each month. In this way, you are only making interest payments, which are easily affordable, and you get to deduct the interest each year from your tax return.

About the author: Tony Robinson is a Webmaster and International Author. Visit http://www.tax-portal.com/ for his tax tips.

Best Student Loan Options

2008-12-08T05:04:00.001-06:00

Author: Parijat

Best Student Loan Option

The importance of loans given to students for their studies cannot be ruled out. Such loans come in very handy in their quest of gaining knowledge. However a thorough homework must be done before applying for loans. Firstly, analyze the needs and never go for the amount that is greater than your requirement. Read the terms and conditions thoroughly. It should be only after carefully weighing pros and cons that one decide whether to go for loan. Once you have decided that you need loan for your studies you again have to make a very cautious decision as to which scheme would suit your need to maximum. As it is there are several type of loans available for the aspirants to choose from.

Federal Perkins Student Loans

This loan is awarded to students on the basis of their needs. It is for the colleges to decide whether the aspirant should be given the loan or not. They also determine the amount to be given. Since colleges have limited resources, they award such loans after thoroughly checking if the candidate deserves the loan. Loan limit for the undergraduate students ranges between $4000 to $20,000 per year. For graduate students it ranges between $6000 to $40,000 per year. Students do not require to pay interest while they are in school. The repayment of the loan starts nine months after leaving the school and can continue up to 10 years.

Federal Direct Subsidized Stafford/Foard Loans

The Subsidized Stafford Loan is available for graduate and undergraduate students. The interest on the loan is paid by the federal government as long as the student is in school. This loan is awarded as per the needs of the applicants therefore every applicant has to explain his financial requirement. Also all applicants might not be successful in getting the loan.

Direct Plus Loans

Parents or guardians of the dependents undergraduate can apply for this type of loan. Aspirants are not required to explain the financial needs and they might borrow up to the cost of attendance without any amount of financial aid that might be received. Loans are first applied to tution and fees. This type of government and federal loan has variable interest rate.

About the author: Parijat Saurabh is writing for http://www.exploreonlinedegrees.com. He is Graduate with English as his Hons subject. He has also done PG Diploma in English Journalism.

Student Loan Consolidation - How does it Work?

2008-12-07T05:04:00.001-06:00

Author: Vanessa McHooley

Student Loan Consolidation – How does it Work? Student loans are a great source of financial aid for students who need help paying for their education. Unfortunately, students often leave college with burdensome debt. In addition, they often have multiple loans from different lenders, meaning they are writing more than one loan repayment check each month. The solution to this problem is loan consolidation.

What is loan consolidation? Loan consolidation means bundling all your student loans into a single loan with one lender and one repayment plan. You can think of loan consolidation as akin to refinancing a home mortgage. When you consolidate your student loans, the balances of your existing student loans are paid off, with the total balance rolling over into one consolidated loan. The end result is that you have only one student loan to pay on.

Both students and their parents can consolidate loans.

Should I consolidate my loans? Loan consolidation offers many benefits:

-Locks in a fixed, usually lower, interest rate for the term of your loan, potentially saving you thousands of dollars (depending on the interest rates of your original loans) -Lowers your monthly payment -Combines your student loan payments into one monthly bill

In addition, consolidated loans have flexible repayment options and no fees, charges, or prepayment penalties. There are also no credit checks or co-signers required.

You should consider consolidating your loans if the consolidation loan would have a lower interest rate than your current loans, particularly if you are having trouble making you monthly payments. However, if you are close to paying off your existing loans, consolidation may not be worth it.

How will the interest rate for the consolidated loan be? The interest rate for your consolidated loan is calculated by averaging the interest rate of all the loans being consolidated and then rounding up to the next one-eighth of one percent. The maximum interest rate is 8.25 percent.

To figure your interest rate, visit loanconsolidation.ed.gov for an online calculator that will do the math for you.

How much can I save? How much you save by consolidating loans depends on what interest rate you get and whether you choose to extend your repayment plan. According to Sallie Mae, the leading provider of student loans in the United States, consolidating student loans can reduce monthly payments by up to 54 percent. However, the only way to reduce your payment this much is to extend your repayment plan. You typically have 10 years to repay student loans, but, depending on the amount you're consolidating, you can extend your repayment plan all the way up to 30 years. Remember that if you choose to extend your repayment term, it will take longer to pay off your overall debt and you'll pay more in interest. There are no preypayment penalties, so you can always choose to pay off the loan early.

Am I eligible to consolidate my loans? In order to consolidate your loans, you must meet the following criteria:

- You are in your six-month grace period following graduation or you have started repaying your loans -You have eligible loans totaling over $7,500 -You have more than one lender -You have not already consolidated your student loans, or since consolidation you have gone back to school and acquired new student loans

The following types of loans can be consolidated:

-Direct Subsidized and Unsubsidized Loans -Federal Subsidized and Unsubsidized Federal Stafford Loans -Direct PLUS Loans and Federal PLUS Loans -Direct Consolidation Loans and Federal Consolidation Loans -Guaranteed Student Loans -Federal Insured Student Loans -Federal Supplemental Loans for Students -Auxiliary Loans to Assist Students -Federal Perkins Loans -National Direct Student Loans -National Defense Student Loans -Health Education Assistance Loans -Health Professions Student Loans -Loans for Disadvantaged Students -Nursing Student Loans

Where can I get a consolidation loan? You can consolidate your loans through any bank or credit union that participates in the Federal Family Education Loan Program, or directly from the U.S. Department of Education. The loan terms and conditions are generally the same, regardless of where you consolidate. You may want to check first with the lenders that hold your current loans.

If all your loans are with one lender, you must consolidate with that lender.

If you decide to consolidate your student loans, remember that you can only do so once unless you go back to school and take out more loans. Therefore, you will want to make sure you get the best deal the first time. The interest rate will be the same from all lenders, but some lenders may offer future rate discounts for prompt payment and a discount for having monthly payments directly debited from your account.

Can my spouse and I consolidate our loans together? You can consolidate your loans together, but it is not a good idea for a couple reasons:

-Both of you will always be responsible to repay the loan, even if you later separate or divorce -If you need to defer payment on the loan, both of you will have to meet the deferment criteria

When should I consolidate my loans? You can consolidate your loans any time during your six-month grace period or after you have started repaying your loans. If you consolidate during your grace period, you may be able to get a lower interest rate. However, since you will lose the rest of the grace period, it is a good idea to wait until the fifth month of the grace period before consolidating. The consolidation process usually takes 30-45 days.

This article is distributed by NextStudent. At NextStudent, we believe that getting an education is the best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more about how to get Student Loan Consolidation at http://www.NextStudent.com .

About the author: My goal is to help every student succeed - education is one of the most important things a person can have, so I have made it my personal mission to help every student pay for their education. Aside from that, I am just a pretty average girl from SD.

Is a Student Loan Consolidation Right For You?

2008-12-06T05:04:00.001-06:00

Author: David Chandler

It is not easy being a student. You may be enrolled in an educational institution to secure a good future for yourself, but the demands of school necessitate that you sacrifice some lucrative earning opportunities for the time being. This can be very difficult considering the rising cost of living. Students have bills to pay, as well. In addition, with their introduction to independence, a lot of them quickly realize that the first few steps towards personal liberty are not paved in a path of roses.

There will be times when students would encounter some financial difficulties. Bills would be harder to meet, since most of the students' time and effort are focused on their studies and income streams will be very limited. Therefore, what is a student to do when financial troubles come knocking on the door?

Well, he could resort to some loans. Aside from conventional loans, there are government direct loans. This direct loan is more like a ""study now, pay later"" plans that would allow the student a certain sum of borrowings that he could worry about when he has finished his schooling and has found gainful employment.

Student loans are called direct loans because they do not require any collateral. The federal government subsidizes them, and engaging one would be tantamount to entering a contract with the government.

Now the problem...

What should a student do when he has several loans in existence? This would certainly pose some difficulties for him, eventually. The interest rates alone for each of the loans would accumulate into unmanageable proportions. In addition, there is that danger that the said loans would become due and demandable at the same time. This would reduce any budget into ruins, especially a budget as fragile as a student's would.

Thankfully, the student could always resort to student loan consolidation. Student loan consolidation, by its very essence, is a way to consolidate or to merge all the loans that the student has entered into. This would provide for him many benefits. Let us look at some of them.

Potentially, the interest rates could be minimized, as there would be one central amount that would be used to determine the applicable and aforementioned interest.

The consolidated loan would be easier to manage. The student does not have to keep tabs of each loan individually. He would only have one loan to deal with, and one due date to remember.

By consolidating his loans, he would be able to extend the maturity date of some of them. The new due date of the consolidated loan is the one that would be observed. The student would be able to avoid paying for a forthcoming loan, the period of which is about to expire.

You would only have to pay one creditor. There is no need to approach a variety of lenders on matters that concern your borrowings.

A student loan consolidation involves the collection of all the student's loans into one compounded sum. This is done by engaging into an agreement with one creditor who would pay off all your debts. The amount he has used to pay for them would constitute one, new loan that the student has to eventually pay off as well.

With student loan consolidations, the creditor who assumes all the existing debts is the government. Student loan consolidation is a furtherance of the student assistance program of the federal government to help the future of the nation copes up with the financial trials they might endure without compromising their quest for knowledge and the development of their skills. It is the federal government's way of ensuring that the students would be able to become productive members of society who would one day make a difference in shaping the history of the country.

For more information about student loans and student loan consolidation, visit http://www.studentloanconsolidationanswers.com and http://www.studentloaninfoguide.com

About the author: David Chandler For your FREE Stock Market Trading Mini Course: ""What The Wall Street Hot Shots Won't Tell You!"" go to: http://www.stockmarketgenie.com

How To Get A Bad Credit Student Loan or Student Loan Consolidation To Help Your College Education?

2008-12-05T05:04:00.001-06:00

Author: Dean Shainin

The best time to start getting information about bad credit student loans and student loan consolidation is your junior year in high school. In order to determine the exact amount of the loan that you would require, you should research thoroughly on the various available schools, and also on the courses in which you are interested. You need to properly plan out your bad credit student loan so as to obtain it easily. A bad credit student loan is particularly helpful when the universities require the students to pay the tuition fees immediately.

Many students are not able to pay for their education, and thus they need student loans. Students with a bad credit can also need bad credit student loans. However, the main disadvantage of bad credit student loans is that a higher rate of interest has to be paid on them. Thus, you must collect a lot of information about the student loans before applying for one.

Students who are looking for a bad credit student loan should pick three schools they are most interested in, talk to the admissions office, and ask what is needed to apply in their school.

A bad credit student loan is payable only after the student has completed his or her education, and has started earning a certain minimum amount. Since April 2005, the minimum amount that the candidate of the bad credit student loan is required to earn has also increased. Bad credit student loans are available as both secured and unsecured loans, depending on whether you are a homeowner or not. The rate of interest to be paid on unsecured bad credit student loans is higher than that on secured bad credit student loans. This is because the secured bad credit student loans are backed by your home as a security.

Why Should I Consider Student Loan Consolidation Now?

Student loan consolidation can have many benefits for the career minded student. Many students don't have thousands of dollars to pay their way through college.

This is why many college students use student loans to get themselves through college. When it comes time to pay back their student loans, it can be a real burden and a distraction from their career.

You should know how to get the best student loan consolidation rate and plan for your credit situation.

What Is Student Loan Consolidation?

When a student first applied for several student loans from several different agencies and student loan providers, they each gave a different interest rate and term for paying back the loans. The idea of student loan consolidation, is to take all the different student loans and put them into one easy convenient loan. You then only have to make one monthly loan payment every month, instead of several loan payments every month over time. Having less checks to write every month is just one benefit of doing a loan consolidation.

The loan rates offered will be based on your financial situation and credit. With a FICO credit score under 600, it can be a challenge to get good rates and plans.

3 Benefits You Can Get With Student Loan Consolidation

1. Lower Monthly Payments. Depending on your credit situation and the type of lender you choose, you may be able to lower your monthly payments by up to 50%

2. Having Fixed Interest Rates. With some federal consolidation loans you can have a fixed rate for the life of your student loan. You can check online to calculate the interest rate on a new student loan consolidation based on the rates of your current student loans.

3. Extending Your Payment Period. You may have a lot of student loan debt. With federal consolidation loans you may be able to extend the payment term up to 30 years. It's a good idea to realize you will end up paying more interest over the life of your student loan consolidation. The idea is to get some leverage until your career takes off.

Online Resources To Help With Bad Credit Student Loans And Student Loan Consolidation?

With today's Internet resources, you have an advantage when looking for bad credit student loans and consolidation of your student loans. If you take the time now to do research on the process of getting a bad credit student loan or consolidation , you may be able to avoid some of the hassles of getting approved.

There are many websites with services that can help to make it easier to see if you can qualify. These sites have many tools and information to help you get the best interest rates available for your credit situation.

About the author: Dean Shainin is a consultant specializing in student loan consolidation. Get valuable resources, tools, information and more articles on student loan consolidation, visit this site:

Student Loan Consolidation

Federal Student Loan Consolidation: The Other ReFi Boom

2008-12-04T05:04:00.001-06:00

Author: Elizabeth Belli

You've heard about refinancing in the mortgage market. Who hasn't? Interest rates are at all-time lows. Folks have refinanced two and three times in as many years to save thousands of dollars in interest they would have otherwise paid.

There's a similar lesser-known boom happening in the world of federal student loans. Refinancing or consolidating them can also help borrowers save thousands of dollars in interest expense, and consolidation can cut a borrower's monthly payments down to a size that's much more affordable.

The two most common types of federal student loans available today are Stafford loans (for students) and PLUS (Parent Loans for Undergraduate Students). The variable interest rates on these loans are the lowest they have been in over 30 years - currently, Stafford loans carry a variable rate of 3.46% while the student is in school, deferment and grace, and 4.06% in repayment. PLUS loan interest rates are currently 4.86% regardless of the student's status. If those rates would hold over the standard 10-year repayment term, that would be the end of this story. But, they won't hold. Federal student loan interest rates reset every year on July 1; Stafford loans rates can climb as high as 8.25% and the PLUS cap is 9%.

The great news for borrowers is that consolidating these loans locks in a low interest rate. The formula for determining a Federal Consolidation Loan interest rate is to take the weighted average of the interest rates of the loans the borrower wishes to consolidate and round it up to the nearest 1/8%. So, for example, if a borrower had only Stafford loans in repayment issued since July 1, 1998, the variable interest rate on these loans is currently 4.06%, and the fixed interest rate for that borrower's consolidation loan would be 4.125%. That's 4.125% for the life of the loan -which can be up to 30 years depending on the borrower's level of indebtedness.

Now, that's a deal every person with student loans should be considering right now. Because on July 1, interest rates reset.

And there are other advantages to federal student loan consolidation. With extended repayment and graduated repayment options, borrowers' monthly payments can be reduced by 50% or more -especially helpful to recent graduates trying to make ends meet. And, if a borrower has multiple lenders and multiple monthly payments, consolidation lets the borrower make a single and (generally) a lower payment to a single lender - simplifying bill payment and improving cash flow. Finally, federal student loan consolidation is free - there are absolutely no fees to consolidate.

Although the terms of a Federal Consolidation Loan are exactly the same, regardless of who lends you the money, a number of lenders are offering incentives to get borrowers to consolidate with them. And, these incentives can save borrower hundreds, even thousands of dollars in additional interest. Most common is a .25% interest rate discount when borrowers agree to repay their new consolidation loans electronically (direct debit). A more significant discount is offered by some lenders when borrowers make timely monthly payments on their new consolidation loans. For example, ConsolidateYourLoans.com offers a 1% interest rate reduction after the borrower has made the first 36 consolidation loan payments on time. Other lenders offer the same discount after 48 or 60 payments, and others offer lesser discounts at other payment intervals, but the idea is the same. Just keep in mind, the faster you get the discount and larger the discount is, the more you can save.

There are a handful of federal student loan consolidators and, right now, the volume of loans they are originating is large, but manageable. Most consolidations are completed in 45-60 days. But, you can bet that the number of people seeking consolidation is going to grow as the deadline (June 30, 2003) approaches. So, if loan consolidation sounds like a good idea to you, read on to see if it warrants your further investigation and, if it does, get your application in quickly.

Is Student Loan Consolidation Right for You?

Federal student loan consolidation is a great financial opportunity, but it's not right for everyone. To make the best choice for you, you should consider the following: Q. Can you take on a longer repayment term in exchange for lower monthly payments? A. For most borrowers, loan consolidation extends the repayment term from the standard 10-year (Stafford loan) term to up to 30 years, depending on your balance. A longer repayment term means that, unless you prepay your loan, you will pay more interest than you would on your unconsolidated loans. You can control your interest cost by choosing one or more of the following: ·Request a shorter repayment term than your balance allows. ·If you can afford it, choose an equal payment plan. You should always make monthly payments that are as large as you can comfortably afford, and an equal payment plan will cost you the least because you are paying all principal and interest due each month. A graduated repayment plan will reduce your monthly payments in the early years, and you might need to choose one of these plans to make ends meet, but they will cost you more in total interest. ·Prepay your loan whenever you can. Just send a note in to your loan servicer with your over-payment asking that it be posted to your principal balance. ·Don't get behind in your payments. Interest will continue to accrue on your unpaid balance, costing you more.

Q. Do you owe enough and have enough time remaining in your repayment term to really make a difference? A. In today's rate environment, regardless of indebtedness, most people who have graduated recently or have been repaying their loans for less than 5 years will benefit. To get a rough estimate of your savings with a consolidation loan, go to www.ConsolidateYourLoans.com, click on ""Calculate My New Loan"", complete the simple worksheet and click ""Consolidate"".

About the author: Elizabeth Belli is National Director of Marketing for Student Trust, Inc. Prior to that she spent 10 years with Sallie Mae, the largest student loan company in the U.S.

How Student Loan Consolidation Works

2008-12-03T05:04:00.001-06:00

Author: Carol Cass

If you've finished your schooling and you're paying on several student loans, you may want to consider student loan consolidation. Student Loan consolidation will not only lower the payments, if you find your finances strained, you may save yourself a headache in the future. And, with the interest rates on the rise, student loan consolidation now will lock your consolidated loan in at the lower rates, which may not be available later. A student loan is a lifetime obligation until paid, and, just like any other debt, non-payment is reported to the credit agencies. A student loan will not be discharged, even in bankruptcy, except in a case of extreme hardship, but extreme hardship is considered as having no money except for the bare necessities to live. So, before your finances get out of control, consider student loan consolidation now and lower your monthly payments with a guaranteed low interest rate. As a general rule, private student loans cannot be included in with a government student loan consolidation. In some cases, however, the loan institution may allow you to include a private student loan, but it is not advisable to include a private student loan in with your government student loan consolidation. When a private loan is included with a federally funded loan, it then becomes subject to the same rules and restrictions as the federally funded loan. If you are not considering student loan consolidation but are having financial difficulties, in certain situations, a student loan may be subject to forbearance, where you pay only the interest on the loan for a period of time, generally no longer than thirty-six months. This may give you enough time to get your financial situation resolved. However, if you are considering consolidation of your student loans, gather the information you need and act quickly before the end of your grace period. After the grace period expires, it's almost impossible to consolidate your loans. If you feel student loan consolidation is right for you, act now and lower your payments while locking in lower interest rates.

About the author: Carol Cass has written several articles on a variety of subjects. This article on Student Loan Consolidation compliments her website which helps people reduce the payments on their student loans.

How You Can Get A Student Loan Successfully

2008-12-02T05:04:00.001-06:00

Author: Roy Barker

5 Tips for Getting Reliable Education Financing

If you are young person planning on heading off to college, you likely are wondering what steps you can take to better ensure your success of obtaining a student loan. In many cases, a student loan is the only way through which a person will be able to pay for his or her college education. Thus, you naturally understand the importance of being able to access and obtain a student loan.

If you are in the process of preparing to go to college, if you are in the process of applying for a student loan, there are some tips and pointers that you should bear in mind as you go about the application process. By keeping these tips in mind, you will be able to better your chances of obtaining the student loan that you need in order to further and advance your education.

1. In considering obtaining student loans, it is important that you pull together basic information about your finances and your financial status. (In addition, depending on the types of specific student loans that you are seeking, the income and financial status of your parents may play a role in decisions relating to student loans. This particularly is true if you are still residing in the home of your parents at the time you begin the search for student loans.)

2. In looking for student loans, you will want to determine exactly what types of student loans may be available to you at any given point in time. To this end, if you have selected an institution of higher learning to which you will be enrolling, contact the financial aid office at the school. The staff of the financial aid office is trained to specifically aid you in determining availabilities as far as different student loans are concerned.

3. As part of seeking student loans, you need to make a thorough assessment of what expenses you will be encountering in regard to attending school over the course of the coming semester and the coming year. You need to determine specifically what your tuition costs will be each semester for the year. Additionally, you need to make an estimate as what you will have to spend on books and other supplies for your classes. (Many people tend to misjudged and under estimate what they will end up spending on books and class supplies for a semester. You need to be as accurate as possible in this regard so that you do not end up under funded.)

4. If you are going to be living in student housing on campus, you need to determine how much dorm fees and charges will be for each of the two upcoming semesters. For the most part, there are situations in which you can include on campus living charges within your overall request for student loans. (Many people use student loans to fund their off campus living expenses as well. In this regard, in order to be in compliance with the rules and regulations of student loans, you need to make certain that you understand what expenses these loans actually will cover.)

5. In looking towards the application for student loans, you need to honestly assess what income you think will be available to you during the coming semester and throughout the coming school year. Many people end up getting too much money through student loan programs. They end up leaving school buried in debt. Therefore, by being realistic about what you actually will need in the way of student loan financing, you will be in a far better financial position as you begin your life after school. (When thinking about what funds will be available to you, you will want to consider any financial contribution that your parents may be making to your education as well. In addition, you may have the possibility of obtaining a scholarship or an educational grant. If you obtain funds from these resources, you will want to reduce the request you make for student loans accordingly in order to keep your finances in a sounder position following graduation.)

By following these steps outlined in this article, you will be in the best position to fund your education without busting your budget following graduation.

About the author: Publisher & Author - Bill Darken-There's a good student loan area along with extra general loans assistance. There are highly informative articles and up to date loans news at http://www.loans-only.com Loans-Only.c om

Student Loan Consolidation Program - Are The Benefits Worth Your Effort?

2008-12-01T05:04:00.000-06:00

Author: Dean Shainin

There are a lot of benefits one can get when he or she consolidates his or her student loans. But just as there are benefits, there are also a little bit of disadvantage when doing such. It is best therefore for you to read and know all you could on consolidating your student loans before making that all important decision and therefore sealing your financial fate.

But loans being as they are - annoying and relevant at the same time, the kind you cannot live with but at the same time cannot live without - you just cant help but avoid thinking of them until that period where you have no choice but to pay up. But do not fear, the federal government is here - believe it or not - to help ease your payment of your student loans.

With the help of Congress, all your student loans could now be combined into one. Not only that, doing so results in automatically lowering the payment you have to fork up every month. Plus you are provided with very flexible means of payment. Not only that, there are also features where you could - if you wish - extend the period you want to pay your student loans. Isnt that great?

Still not convinced or are you still confused? Okay, to make it clear, the following are the benefits one could acquire when he or she gets to consolidate any or all the student loans he or she may have.

You get to have the advantage of making payments that are lower than the ones you regularly pay every month.

Not only will you get to have monthly payments that are lower, you also will get to pay one and only one loan per month. This is in lieu of the several loans you may have if you do not consolidate your loans.

Besides only one payment made each month and a low one at that, the interest rate attached to the loan is a fixed one! It should and must not get to be over eight point twenty five percent at any period during the whole duration of the payment for your student loan. This is enough to get anyone going especially now that interest rates available nationally are at their lowest for forty years.

And here is the best part, the process one goes through when applying for a consolidation of student loans is as easy as could be. Believe it or not, the application does not involve any forms of credit check. There is also no fee involved for processing the application for consolidating student loans.

When you consolidate, you could also avail of a plan for payment that is flexible. This means you will basically be able to create a plan of repayment that you think suits you the best, financially of course. This is a great opportunity for you to assess your current financial needs as well as your financial needs when the future comes.

Also, if you decide to pay your loan via electronic means, you will be able to decrease your interest rate by a whooping point twenty five percent. Doing electronic payment also keeps you updated in your payments and decreases your chance of ever forgetting to pay.

Another thing, when you consolidate your student loans, you will have an option to - if ever you decide - prepay the loan you have at any given time with no penalty whatsoever.

Aren't these good reasons enough to consolidate.

Okay, to be fair, there are also valid reasons if ever you do not want to consolidate. These are the following:

If your loans have a combination of high interest and low interest, it is best if you do your math. If you consolidate your loans and if averaged, you will get to pay your low interest loans with rates that are higher, it is probably best and would work to your advantage if you separately get to pay your loans that have low interest.

As much as possible, try to be aware of the flexibility always cited in payment schemes. It might not do you good financially if you keep paying your loans in a longer period. Try to do your math again and analyze if doing so would mean that you are actually paying a higher amount because of the interests that keep incurring.

About the author: Dean Shainin is a consultant specializing in student loan consolidation. Get valuable resources, tools, information and more articles on student loan consolidation, visit this site:

Student Loan Consolidation

Student Loan Consolidation For Dimwits

2008-11-30T05:04:00.000-06:00

Author: Jonathan Cohen

Too lazy to investigate this properly? Then this one is for you.

Loan consolidation is the act of combining multiple loan plans into one. That is, instead of sending cheques to several lenders every single month, you will pay just to one entity. It's a no-brainer to see that this is less work than several. But as you were always told, there is no such thing as a ''free lunch''.

Other than simplifying this rather annoying process, the interest rate on your single consolidated loan may be even lower than the rates you are paying now. Simply put, you might even be saving yourself money. With some plans, it is even possible to adjust the amount of money paid back by your monthly pay; pay less when studying, pay more once you find a good job.

Get it straight, everybody wants a cut from your cheque. It is in everybody's interest to get your loans transferred to them or consolidated by their firm. Your current loan provider might offer the best deal of the lot, so do not neglect to investigate that option. If you have more than one Federal Loan, it is highly advisable to check out the Federal Direct Consolidation Loans, as they offer a long grace period (time before repayments begin), and repayment plans for up to 30 years. In some states, it is possible to apply for a State Student Consolidation Loan which are subsidized by the state. Since not all states provide such facility, you will have to check this on your own.

Links: The Internet is loaded with loan consolidation information and services. A simple search query can bring up a list of loan provider, each with its tools to help you get the best rates. Never settle for the first plan you see, regardless of how attractive it may look. Remember that when considering the amount of money being paid back, even a tenth of a percent can yield huge savings on your side.

* Visit http://loanconsolidation.ed.gov/borrower/borrower.shtml at Federal Student Aid for information and interest rate calculator for consolidated loans.

About the author: Jonathan Cohen is a successful writer for online articles and ezines. More resources, information and tools are available at http://www.studentconsolidation.cc

Student Loan Consolidation: The Other ReFi Boom

2008-11-29T05:04:00.000-06:00

Author: Elizabeth Belli ConsolidateYourLoans.com

There's a similar lesser-known boom happening in the world of federal student loans, because refinancing or consolidating them can also help borrowers save thousands of dollars in interest expense.

The great news for borrowers is that consolidating these loans locks in a low interest rate. The formula for determining a Federal Consolidation Loan interest rate is to take the weighted average of the interest rates of the loans the borrower wishes to consolidate and round it up to the nearest 1/8%. So, for example, if a borrower had only Stafford loans in repayment issued since July 1, 1998, the variable interest rate on these loans is currently 4.06%, and the fixed interest rate for that borrower's consolidation loan would be 4.125%. That's 4.125% for the life of the loan - which can be up to 30 years depending on the borrower's level of indebtedness.

Now, that's a deal every person with student loans should be considering right now. Because on July 1, 2003 rates will reset.

And there are other advantages to federal student loan consolidation. With extended repayment and graduated repayment options, borrowers' monthly payments can be reduced by 50% or more - especially helpful to recent graduates trying to make ends meet. And, if a borrower has multiple lenders and multiple monthly payments, consolidation lets the borrower make a single and (generally) a lower payment to a single lender - simplifying bill payment and improving cash flow. Finally, federal student loan consolidation is free - there are absolutely no fees to consolidate.

There are a handful of federal student loan consolidators and, right now, the volume of loans they are originating is large, but manageable. Most consolidations are completed in 45-60 days. But, you can bet that the number of people seeking consolidation is going to grow as the deadline (June 30, 2003) approaches, and lenders will see an unprecedented number of requests that will most certainly bog the system down to some extent. So, if loan consolidation sounds like a good idea to you, read on to see if it warrants your further investigation and, if it does, get your application in quickly.

Is Student Loan Consolidation Right for You?

Federal student loan consolidation is a great financial opportunity, but it's not right for everyone. To make the best choice for you, you should consider the following: Q. Can you take on a longer repayment term in exchange for lower monthly payments? A. For most borrowers, loan consolidation extends the repayment term from the standard 10-year (Stafford loan) term to up to 30 years, depending on your balance. A longer repayment term means that, unless you prepay your loan, you will pay more interest than you would on your unconsolidated loans. You can control your interest cost by choosing one or more of the following: ·Request a shorter repayment term than your balance allows. ·Loan consolidation programs offer a number of repayment options. If you can afford it, choose an equal payment plan. You should always make monthly payments that are as large as you can comfortably afford, and an equal payment plan will cost you the least because you are paying all principal and interest due each month. A graduated repayment plan will reduce your monthly payments in the early years, and you might need to choose one of these plans to make ends meet, but they will cost you more in total interest. ·Prepay your loan whenever you can. Just send a note in to your loan servicer with your over-payment asking that it be posted to your principal balance. ·Don't get behind in your payments. Interest will continue to accrue on your unpaid balance, costing you more.

About the author: Elizabeth Belli is National Director of Marketing for Student Trust Inc. in Rockville, MD. Prior to that, she spent 10 years with Sallie Mae, the largest student loan company in the U.S.

Choosing a Student Loan

2008-11-28T05:04:00.000-06:00

Author: Websition

The tuition of College or University education increases every year. Families, who want to pay for their child's tuition, often find themselves unable to afford the cost when the time arrives. The reasons for this problem vary: from low income, or uninvolved parents. Now that education is a top, and important priority, potential students must find other options to pay for their educational future. Many options are available for those who want a better education. Summer, or full-time employment is sought after by millions of students across the country, and in North America.

Nonetheless, if the wages are not sufficient enough to pay for books, student housing, or the general course fees, what other options does a student have at their disposal? Student loans are available for those who do not qualify to receive a scholarship. Financial aid, such as student loans are abundant. If a student wishes to obtain information, or apply for this method of tuition aid, he or she can simply inquire at their local bank, or credit union. Moreover, it is not finding a loan that is difficult, but choosing the right one that will best suit your needs. Making a decision on the perfect loan to pay for your educational endeavour can be challenging, but rewarding in the end. Listen to advice from experts before accepting a loan, and ask questions. Some helpful advice might be what you need from people and reading articles.

When inquiring at your local bank or credit union, make sure you speak with a Loan Officer, because he or she is specialized in helping others find the best loan with the least problems. Remain confident and calm when speaking to him or her, because nervousness shows lack of knowledge about the subject. Inquire about interest rates, extra fees, and principled time to pay back the loan before, or after graduation. In addition, types of loans vary in each country that does not provide free post secondary education. The United States, for example, has several different options for student loans.

The categories these loans are provided under, are Need-Based, and Non-Need-Based loans. Depending on your financial situation, your loan officer can help you decide which loan to choose in one of these categories. Inquire about subsidies if needed to help with extra costs for school materials, or paying the interest rates for your chosen loan. In addition, ask if the loan requires credit rating. The loan officer can provide you with one that requires no previous credit rating if necessary. Don't make a decision at the first meeting. Read over your notes, and the information he or she provides you about various loans available. If you are unable to decide, because you are unfamiliar with financial aid, or rules, discuss this subject with your parents, or others who are graduates, or work in financial institutions. If you take this extra precaution, you will most likely decide on the best loan that suits your needs and desires.

College or University is a life changing, and some times difficult transition, if you are living in an apartment on, or off campus. If you plan your financial needs and requirements in advance, research, and apply for a student loan, your transition will be a smooth experience. Make sure you talk to people who you trust about your financial aid. Try to avoid signing up for non-traditional banking institutions, unless you have plenty of experience in dealing with financial matters. Reputable banks, or credit unions can help you find a safe, and secure student loan, so you can concentrate on achieving a higher education.

About the author: Provided by the Websition Article Team where you will find free information on

student loans to use for your website, newsletter, or ezine, all with royalty-free reprint rights. http://www.websition.com

How to Avoid Student Loan Scams

2008-11-27T05:04:00.000-06:00

Author: Websition Team

Looking to get the best student loan is a time-consuming and difficult process. Parents are trying to scrape some money to help pay for their child's tuition, and their child is worried about high grades, post secondary admission and the intimidating aspects of campus life. Moreover, students should be concentrating, and worried about their studies, and not obtaining legitimate financial aid, such as a student loan. This is not reality, for most students entering into post secondary institutions.

Most people are unable to afford the heavy tuition costs, due to minimal income, so students and parents have no choice in getting a student loan. For some families, the lack of knowledge and desperation can lead to misjudgments when getting a student loan. Don't panic. You will be able to find a legitimate student loan to pay for you, or your child's education. Feel pressure to access financial help to pay for the costly books, and the high tuition fees for the courses? Calm down, and examine your options with a clear mind. This way, your chances of being scammed, will decrease.

If you receive telemarketing calls, which most of us get, we know the wisest choice is to politely say we are not interested, and hang up. It is not that we are trying to be rude to the person calling us during supper hour; it is a method that should be used to protect us against scams from the companies they work for. Unfortunately, some of the offers they call to give us are so tempting that we listen, and before we know it, they have our credit card number, or the number to access our bank account. This is the case for people who are lured into getting a student loan from one of these telemarketing calls.

Note that not all of the student loan scams are done by using a telemarketer. Discard any mail that has flashy headline that reads one-time offer student loans, or you can't get this loan anywhere else. Watch out for the loan companies that tell you in writing, or over the phone, that you must purchase this student loan several years before your child is able to apply for post secondary education. This is not true. Walk, or drive to your local bank, or credit union, and tell them what this loan company told you. Most likely, they will explain their legitimate student loans, and that you should only think of obtaining one when you or your child has been accepted to a higher academic institution.

Companies that claim to give low-interest student loans with a one-time fee are also using the open market of the Internet. Delete e-mails that say, ""student loans for a one-time up-front fee"". Companies that sell student loans online are usually trying to obtain your identity, or put a virus on your computer that will record your banking information, if you do online banking. Make sure the company that calls, e-mails, or mails you with information about their student loan services, is affiliated with a legitimate bank, or credit union. There is a slight possibility that this student loan company is legitimate. It is better, however, to get a loan with a bank, or credit union, so you can get assistance if you have difficulties, or questions.

Student loan scams are the most heinous crime of financial, and identity theft. The companies that commit this crime know the desperation, and naive nature of parents, and students. In addition to this malicious incite, they are familiar with the high tuition costs to enter into Colleges, or Universities; thus using this advantage to lure unsuspecting parents, and students into impulse purchasing of student loans. If you are looking for financial relief through a student loan, it is important that you research student loan options at your local library, or financial bank, or credit union. If you arm yourself, and child with information about avoiding these scams, you will be given a student loan from a reputable bank, or financial group that will provide adequate tuition for you, or your child's education.

About the author: Provided by the Websition.com the Internet's hottest web content provider . Find articles to use on your website today by visiting: http://www.websition.com/

Health Care Portability

2008-11-26T05:04:00.000-06:00

During the summer of 1996, Congress passed the Health Insurance Portability and Accountability Act of 1996. This legislation made it easier for people with existing health insurance to change jobs, and still maintain health insurance coverage. The legislation does nothing to cover those who are currently uninsured, nor does it address the cost of individually owned health policies. Among other points, the Act:

• Restricts exclusions for pre-existing conditions.

• Requires special open enrollment periods.

• Prohibits plans from dropping or denying coverage for employees with medical conditions.

• Guarantees the availability of health insurance to small employers and individuals losing group health coverage, and guarantees renewability for all groups.

Pre-Existing Conditions

The legislation provides that group health plans must reduce any pre-existing conditions exclusion period by the length of time a person had prior coverage. Such prior coverage does not count if there has been a break in coverage longer than 62 days, not counting waiting periods. For example, if someone who had already satisfied a pre-existing condition exclusion, lost his or her group health coverage on June 30, and got a new job September 1, they would not have to satisfy a new pre-existing condition exclusion.

Certain individuals may qualify under federal law to elect COBRA continuation coverage during a special second election period. For these individuals, any days between the initial loss of group health coverage and the first day of the special second election period will not count as a break in coverage.

In order to allow individuals to present evidence of prior creditable coverage, the law requires group health plans to issue a certificate describing the previous coverage, which can include short-term coverage. Employers or insurers must provide this certificate when an individual loses coverage under the plan, or upon request at any time within the following two years.

Under certain circumstances, the law does permit a group health plan to impose a preexisting condition exclusion. An exclusion is allowed only if related to a condition for which the individual received medical care (or for which medical care was recommended) within the 6-month period ending on the enrollment date. This exclusion period cannot extend more than 12 months after the enrollment date (18 months for a late enrollee), and is reduced by any creditable prior coverage.

Waiting periods must run concurrently with any pre-existing conditions exclusion. Preexisting conditions exclusions cannot apply to newborn children or children placed for adoption if they are enrolled within 30 days of birth or placement. Pre-existing conditions exclusions cannot apply to pregnancies.

Special Enrollment Periods

The law requires special open enrollment periods for people who lose other coverage, subject to certain conditions. Group health plans offering dependent coverage must allow at least 30 days in which to enroll new dependents following marriage, birth, adoption, or placement for adoption. If the employee is eligible but not enrolled, he or she must also be allowed to enroll at the same time. Plans must now allow eligible spouses to enroll within 30 days of the birth or adoption of a child.

Medical Conditions

Group health plans cannot establish any rules for benefits, premiums, eligibility or continued eligibility based on health-related factors. Insurers can no longer require employees or dependents to complete medical questionnaires in order to prove insurability, although they can require questionnaires as part of the rate–setting process.

This new rule also means that groups cannot single out an individual, based on health status, for denial of a benefit otherwise provided. For example, the plan may not deny prescription drug coverage to a particular person if prescription coverage is available to similarly situated individuals. However, a plan could exclude prescription drug coverage for all beneficiaries. An entire group can be charged higher premiums based on health experience, but a plan cannot single out an individual for higher premiums.

Guaranteed Availability and Renewability

Insurers cannot refuse to cover small groups (2 to 50 employees) based on the health of group members. Larger groups are not guaranteed the availability of coverage, but once they have coverage they are guaranteed renewability. Renewability may be denied for groups that fail to pay premiums, commit fraud, or fail to meet participation or contribution requirements. Employees who lose group coverage can purchase individual
health insurance policies without providing evidence of insurability.

Caution

This law is filled with complexities and ambiguities. A complete understanding of the law's impact may require the assistance of a qualified group insurance representative.

Medicall Savings Accounts

2008-11-25T05:06:00.000-06:00

The Health Insurance Portability and Accountability Act of 1996 created a new type of savings account designed to help individual taxpayers meet unreimbursed medical expenses on a tax-favored basis. This saving account, called a medical savings account (MSA), was available only to employees of small businesses and self-employed individuals, and only in conjunction with a high deductible health insurance policy.

MSAs were initially available, on a test basis, for 1997 through 2000.1 The Job Creation and Worker Assistance Act of 2002 extended this trial period to December 31, 2003. The Working Families Tax Relief Act of 2004 further extended the period to open an MSA account to December 31, 2005. The Tax Relief and Health Care Act of 2006 extended the period to open an MSA for a third time, to December 31, 2007.

Key Points

• Contributions: Employee contributions to an MSA are deductible from gross income in calculating adjusted gross income (AGI). Employer contributions to an MSA are not taxable to the employee but must be reported on the employee's W-2 form. Contributions may be made at any time, up to the due date of the return (not counting
filing extensions). Earnings on funds in an MSA are not currently taxable. MSAs cannot be part of an IRC Sec. 125 cafeteria plan, but a high-deductible policy can be.

• Limit on contributions: Contributions to an MSA are limited, based on the dollar amount of the health policy's deductible. For single coverage, the annual contribution limit is 65% of the deductible amount. For family coverage, the annual limit is 75% of the deductible amount. The Act sets limits for minimum and maximum deductibles, as well as the maximum out-of-pocket expense. These limits are indexed for inflation annually.2

• Distributions from an MSA: Funds distributed from an MSA to pay for qualified medical expenses (unreimbursed expenses that would otherwise qualify for the medical expense itemized deduction) are generally tax free. No itemized deduction is allowed for medical expenses paid from an MSA. Funds distributed for other purposes are taxed as ordinary income. A 15% penalty tax would also apply, unless a distribution is made because of death, disability or an MSA owner reaches age 65.

• Tax savings: The tax benefits of paying medical expenses through an MSA are significant. The ability to deduct contributions to an MSA above-the-line amounts to a dollar-for-dollar reduction in taxable income. Otherwise, unreimbursed medical expenses are deductible as an itemized deduction only to the extent that they exceed 7.5% of AGI, an amount that many taxpayers never reach.

(1) The Community Renewal Tax Relief Bill of 2000 (HR 5662) renamed MSAs as Archer MSAs.
(2) See Revenue Procedure 2007-66.

Health Reimbursement Arrangements

2008-11-24T05:04:00.001-06:00

A Health Reimbursement Arrangement (HRA) is an arrangement in which an employer reimburses an employee for certain medical expenses. The employee first pays for the medical expense out of his or her own pocket and is then reimbursed by the employer. If IRS requirements1 are met, HRA payments are excluded from the employee's income (i.e. they are received income tax-free) and are a deductible business expense for the employer.

At the beginning of the year, the employer will specify the maximum amount that each employee can "spend" under the HRA. Unused HRA balances may be held over to increase the amount available for medical expenses in future years. An employee has no right to any "cash-out," nor is the arrangement portable, upon termination of employment.

In General

Sometimes known as "defined contribution health plans," HRAs can vary in their details, but are designed to provide a financial incentive for employees to make cost-conscious decisions regarding health care. Certain basic requirements apply to all HRAs:
• Funding: Only the employer may contribute to an HRA. No employee contributions are permitted, through a salary reduction plan or otherwise. An HRA is typically set up as an unfunded employee benefit program, with reimbursement payments being made from the employer's general assets as medical expenses are incurred.
• Use of funds: Generally, HRA funds may only be used to reimburse an employee for qualified, substantiated "medical expenses2," as that term is defined in IRC Sec. 213(d).
• Maximum amount: There is no IRS limit on the dollar amount that an employer may contribute to an HRA. The employer determines the maximum amount that will be reimbursed during the year.

Other Key Points

In some instances, an HRA will be combined with an employer-provided health plan, often a high-deductible health plan. In others, HRA reimbursements allow an employee to pay the premiums for the health insurance plan of his or her choice.
• Eligible individuals: Include current employees3, their spouses and dependents, and the spouses and dependents of deceased employees. An HRA may reimburse the medical expenses of retired or terminated employees up to the amount of unused reimbursement left at the time the employee leaves the employer.
• Non-discrimination: An HRA may not discriminate in favor of highly compensated employees.
• COBRA and HIPAA: An HRA must comply with the requirements of both COBRA and HIPAA.

Transfers of HRA Funds to Health Savings Accounts (HSAs)

The Tax Relief and Health Care Act of 2006 included a provision which allows for a onetime, direct transfer of certain amounts in an HRA to an HSA; a number of restrictions and conditions apply. The provision is effective for distributions on or after the date of enactment and before January 1, 2012.

----
(1) The rules discussed here concern federal income tax law. State or local law may differ.
(2) Including premiums for health or long-term care insurance. See IRS Publication 502, "Medical and Dental Expenses" for a general guide as to what qualifies as a deductible medical expense. Some exceptions apply.
(3) Self-employed individuals, including partners in a partnership and more than 2% owners in a S corporation, may not participate in an HRA.

Medical Reimbursement Plans

2008-11-23T05:04:00.001-06:00

A plan set up by an employer to reimburse employees for their medical expenses that are not covered by their regular medical insurance is called a medical expense reimbursement plan. Reimbursable expenses might include dental expenses, expenses in excess of policy limits, etc.

Either reimbursement payments to the employee or insurance premiums paid to an insurance company (under an insured plan) are deductible by the corporation.

Payments are generally received by the employee free of income tax, unless he or she is a highly-compensated employee and the plan does not meet the nondiscrimination requirements.

Nondiscrimination Rules

Self-insured plans that discriminate in favor of highly compensated employees will cause the excess reimbursement benefit1 to be included in the highly-compensated employee's taxable income. To avoid being discriminatory as to who may participate, a plan must meet one of the following tests:
• Benefit 70% or more of all employees
• Cover 80% of eligible employees where 70% or more of them are eligible
• Cover a special classification of employees which the IRS determines not to be discriminatory

To avoid being discriminatory in actual operation, highly-compensated employees must not have greater benefits than the other employees. For example, benefits should not be a percentage of salary.

Highly-Compensated Employees

Those persons who would be classified as highly-compensated employees include:
• The five highest-paid officers
• Shareholders owning more than 10% of stock
• The highest paid 25% of all employees2

Uninsured or Insured

Payment from the general funds of the business to reimburse the employee for his or her medical expenses is called an uninsured or self-insured plan. When the corporation pays premiums to an insurance company and thereby shifts the risk to an unrelated third party, it is called an insured plan. The nondiscrimination rules do not apply to insured plans.

See Treasury Regs. 1.105-11(b)(1)(ii).
1 Reimbursement for benefits not available to other plan participants.
2 See IRC Sec. 105(h)(5).

Flexiiblle Spendiing Acounts

2008-11-22T05:04:00.001-06:00

Flexible spending accounts (FSA) are a type of cafeteria plan commonly used by many employers. In an FSA, participating employees generally elect to have their salary reduced each month. The employer then uses these funds to pay for certain benefits with pretax dollars. There are three types of FSAs.
1. Medical expenses not otherwise covered
2. Dependent care expenses for both children and parents
3. Adoption Expenses

Tax Benefits

The payment of the benefit is tax deductible for the employer and is not considered additional income to the employee. As these dollars are not considered to be wages, they are not subject to either FICA or FUTA tax.

Health Benefits

If an FSA provides health benefits (like medical or dental expenses) to participants, it must be ready to pay the full year's benefits to an employee who qualifies for the benefit.

For example, if the employee has contributed for only one or two months at the time of the claim, the employer must pay for the entire expense up to the amount projected for the full year of contributions by the employee.

If the employee then terminates employment before the amounts are deducted from his or her paycheck, the employer must suffer the loss.

"Use-Or-Lose" Rule

Any unused funds remaining in an FSA at the end of the year will be forfeited by the employee. At the beginning of the year, a careful estimate of future expenses is helpful in avoiding this "use it or lose it" problem. However, employers may (but are not required to) establish a grace period of 2 ½ months after the end of a plan year. During this grace period, any unused funds may be paid or reimbursed to the employee for qualified expenses incurred during the grace period.(1)

Transfers of FSA Funds to Health Savings Accounts (HSAs)

The Tax Relief and Health Care Act of 2006 included a provision which allows for a onetime, direct transfer of certain amounts in a health FSA to an HSA; a number of restrictions and conditions apply. The provision is effective for distributions on or after the date of enactment and before January 1, 2012.

(1) See proposed regulation Sec. 1-125-1 (e)

Group Health Insurance

2008-11-21T05:04:00.001-06:00

Employer-paid premiums for employee medical insurance are deductible by the company whether the coverage is under a group policy or individual policies. See Reg. Sec. 1.162-10(a).

The employee need not report the amount paid by the employer as current income. See IRC Sec. 106.

When an employee pays the premium and is then reimbursed by the employer, the amount received is not included in the employee's gross income. See Reg. Sec. 1.106-1.

Benefits paid under the insurance plan, which reimburse the employee for payments made for hospital, surgical or other medical expenses, are not included in the employee's gross income.

Group medical plans are an attractive fringe benefit because personally paid medical insurance premiums and medical expenses are only deductible in excess of 7.5% of the taxpayer's adjusted gross income. See IRC Sec. 213.

Self-insured medical reimbursement plans which favor employees who are officers, shareholders or highly-paid employees may not qualify for the above tax benefits.

The Code sets certain eligibility requirements for self-insured plans, similar to those applied in qualified retirement plans, which are designed to discourage discrimination. See IRC Sec. 105(h).

The Health Insurance Portability and Accountability Act of 1996, signed into law on August 21, 1996, expanded the availability of coverage under group health plans.

Effective with plan years beginning after June 30, 1997, the Act:
• Limits exclusions for pre-existing conditions;
• Prohibits discrimination in eligibility or premiums solely on the basis of an individual's health situation;
• Guarantees renewability for those employers with group health plans; and
• Provides penalties for employers who do not comply with the law.

Health Insurance Issues

2008-11-20T05:04:00.001-06:00

The continuing escalation in health care costs makes a well-designed health insurance program essential to
your financial security. With semi-private room ratesaveraging over $500 per day, a few days in the hospital could equal thousands of dollars in expenses.

When reviewing your health insurance coverage, consider the following:
• Deductibles: How much of the initial costs must
you absorb in the way of a deductible? Is it charged only once in the calendar year? Is
there a limit of two or three deductibles per family or must each member satisfy it?
• Coinsurance: Beyond the deductible, what percentage of the expense must you pay,
10%, 20%? Most important - Is there a stop-loss provision that eliminates all
coinsurance and pays 100% of the charges after you reach $1,000 (or some specified
dollar amount) in out-of-pocket expense?
• Family benefit maximums: These should be unlimited or extremely high; e.g.,
$1,000,000, due to potential costs of a major surgery, hospitalization, a series of family
illnesses, etc.
• Inside limits: These limits, like $200 for X-rays, etc., should be avoided in favor of
comprehensive coverage; i.e., a flat percentage of the cost incurred.
• Child age limits: Determine age limits on child coverage. Full-time students may be
covered until 22 or 23.
• Outpatient benefits: These benefits should be examined carefully since many
procedures are now done on an outpatient basis; e.g., preadmission testing, diagnosis,
etc., due to the high costs of hospitalization.
• Preferred providers: Some medical plans call for the use of a preferred supplier and
provide a list of doctors or hospitals from which you must choose.
• Health maintenance organizations (HMOs): These medical plans offer a different
approach from traditional health insurance, in which you pick the doctor, pay as you go
and receive reimbursement from an insurance company. With an HMO, you or your
employer pay an annual fee, for which the plan's own doctors handle almost all of your
health needs.

HMOs typically cost less in that there are usually no deductibles and they cover a higher
percentage of costs than traditional plans. However, since you are limited to the
services of this organization, it is important to ask the following questions.
1. Where do I go if I require hospitalization?
2. What about emergency treatment out of the local area?
3. How substantial is the local staff and are all specialties represented?
4. How long must I wait to get an appointment?
5. Is the plan facility oversubscribed?

The Need for Healtth Insurance

2008-11-19T05:04:00.001-06:00

Paying For Medical Care

Sources of Health Insurance

The Choice Is Yours

While health insurance may be expensive, trying to pay medical costs out of your own
pocket, or not seeking medical help when needed, can be much more expensive.

(1) Source: Statistical Abstract of the United States:2007. Table No. 656 Personal Consumption expenditures in Current and Real (2000) Dollars, by Type: 1990 to 2004.

Sources of Disability Insurance

2008-11-18T05:04:00.001-06:00

Private Disability Insurance Programs

There are two primary sources of private disability insurance: The individual purchases the policy directly from an insurance company. The terms and benefits of the policy can vary widely.

Group plans are typically purchased through your employer and generally offer a low-cost alternative to individual coverage. The terms and coverage will vary.

Government-Sponsored Disability Insurance Programs

At the federal level, there are a two primary programs offering disability insurance. Both are administered by the Social Security Administration.

Social Security Disability Insurance (SSDI) pays benefits to qualified individuals under the age of 65 regardless of current income. Benefits are based upon your Social Security earnings history.

A Word of Caution

(1) General Accounting Office, Social Security Administration: More Effort Needed to Assess Consistency of Disability Decisions (Washington, D.C.: GPO, 2004), 7.

The Individual Need forr Disability Insurance

2008-11-17T05:04:00.001-06:00

Don't Count on Social Security

Group Disability Insurance

Individual Disability Income Insurance

• Company strength: You need to know if the company is financially sound.

• Elimination period: How long must you wait before disability payments begin?

• Benefit period: How long will you need coverage? Both short-term and long-term disability benefits are available.

• Inflation protection: Try to find a policy that adjusts benefits for inflation.

Individual Disability Income Insurance

2008-11-16T05:04:00.001-06:00

One approach to the problem of providing income during an extended period of disability is to purchase individual disability income insurance.

What to Look for in a Disability Insurance Policy

• Cost of living adjustment: Is there a cost of living adjustment (COLA) which would increase benefit payments after a disability occurs?

Types of Disability Contracts

Several other specialized disability contracts are available to the businessperson:

• Business overhead expense: Covers expenses such as staff salaries, rent, telephone, utilities, malpractice insurance and other expenses necessary to keep a business open.

• Key person disability: Reimburses the business for the loss of a key employee and allows funding of temporary replacement or training of a successor.

(1) Own occupation generally means the insured's current occupation. The own occupation definition of disability may not be available for all occupations or professions.

Taxation of Disability Insurance Premiums and Benefits

2008-11-15T05:04:00.001-06:00

Personally-Owned Policies

Premiums for a non-medical benefit such as disability insurance are not deductible when purchased by an individual. See IRC Sec. 213(d)(1).

Business-Owned Policies

If the premium is paid by the employer for its employee, the results are different.

• The amount paid by the employer for disability insurance premiums is not taxable to the employee. See IRC Sec. 106, Reg. Sec. 1.106-1 and Reg. Sec. 1.79-3(f)(3).

Key Person Disability Insurance

If the policy is payable to the business to protect it from the loss of services of a key employee, the premium is not tax deductible. See IRC Sec. 265(a)(1), and Rev. Rul. 66- 262 and 1966-2 CB 105.

On the other hand, benefits collected by the company are received income tax free. See IRC Sec. 104(a)(3) and Rev. Rul. 66-262.

Who Makes Medical Decisions When I Cannot?

2008-11-14T05:04:00.001-06:00

When Should Medical Treatment Be Withheld?

As the following examples are read, one might ask, "Would I want medical support withdrawn in this situation?"

• In a coma with no hope of recovery

• In a coma with a small likelihood of recovery with permanent brain damage

• Afflicted with brain damage or disease, severe in nature, and a terminal illness

• Afflicted with brain damage or disease, severe in nature, but without terminal illness

Living Will

Durable Power of Attorney for Health Care

COBRA Coverage Continuation

2008-11-13T05:05:00.001-06:00

• The death of the covered employee

• The divorce or legal separation of the covered employee

• The termination of the employee's employment, unless for gross misconduct, or a reduction in hours that results in a loss of coverage

• The covered employee becomes entitled to Medicare

• A dependent child ceases to be covered by the plan due to his or her attained age

• For retired employees, the filing by the employer for Chapter 11 bankruptcy

Continuation Coverage

The coverage which is offered must be identical to the coverage offered prior to the event causing the continuation.

The plan may require the covered employee (spouse or dependents) to pay a premium, but it generally cannot exceed 102% of the cost to the plan for a person in a similar situation.

Notice and Election Requirements

Failure to Comply

Regulations

Critical Illness Insurance

2008-11-12T05:04:00.001-06:00

How Does It work?

Types of Illnesses Covered

Policy Costs

Federal Taxation of Policy Proceeds

Student Loan Facts

2008-11-11T05:04:00.001-06:00

Author: Bob Janeway

About the author:

Student Loans Advice -A student loan is designed to help you pay for college tuition, books, and living expenses. Learn more here- Finance-St uff.com

Government Student Loan Consolidation - Pros & Cons

2008-11-10T05:04:00.001-06:00

Author: Imtiaz.s

The Pros And Cons Of Government Student Loan Consolidation

Once finalized, government student loan consolidation can't be undone. Bear in mind the loans that were consolidated have been paid off and no longer exist.

The bottom line is that it's best to take the time to study your government student loan consolidation options before you apply.

For more details on government student loan consolidation, contact your loan holder(s).

About the author: for more info please visit http://www.premiumsecret.com

Student Loan Consolidation - Big Benefits

2008-11-09T05:04:00.001-06:00

Author: Dean Shainin

Why Should I Consolidate My Student Loans Now?

How Does Student Loan Consolidation Work?

Student Loan Consolidation Is Now Easy Online

Consolidation Loans Can Relieve Stress

About the author: Dean Shainin is a consultant specializing in student loan consolidation. To get more ideas,articles, resources and information, visit this site:

Student Loan Consolidation

Student Loan - The Basic Facts

2008-11-08T05:04:00.001-06:00

Author: Joseph Kenny

Employment

Loans

An Overview of Student Loan Debt Consolidation

2008-11-07T05:04:00.001-06:00

Author: Angela Rogers

Get out of debt - debt help and relief guide.

About the author: Angela Rogers is the editor for http://www.debt-helper.info - Your guide to debt help and debt consolidation.

How To Stretch Your Student Loan

2008-11-06T05:04:00.001-06:00

Author: Rachel Lane

http://www.moneynet.co.uk/student-finance-guide/index.shtml ), whilst the money section on support4learning is also a popular internet resource. ( http://www.support4learning .com/ ).

http://www.channel4.com/4money/banking/featur es/account_aggregation_161204.html )

About the author: Rachel writes for the personal finance blog Cashzilla. http://www.cashzilla.co.uk

Student Loan 101: Get Money and Get a Degree

2008-11-05T05:04:00.001-06:00

Author: Richard Martin

Student loans are popular as today as ever: find one and use it to your advantage.

About the author: Richard Martin is a contributing writer at http://www.LegalClips.com. LegalClips.com has Vioxx and injury lawyer articles.

Student loan consolidation: look this gift horse in the mouth. Part I

2008-11-04T05:07:00.001-06:00

Author: Ian McAllister

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Get Life Skills - Not Student Loans

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Student loans? Who needs them? Take charge of your money for the rest of your life.

Part I (This article)

Part II Student loan consolidation has big benefits for losers

Part III Idea beats student loan consolidation and creates a winning mindset.

You'll never need student loans with these ideas.

1.Grants in place of student loans - no repayments

2. Part time earning decreases student loans

3. Economising (builds life skills) avoids some student loans

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1. Grants - Supreme way to avoid student loans

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2. Part Time Earning

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I have details of how a teenage girl made a profitable website. She'll never need student loans!

One girl runs dogs. That's right, she runs for half an hour with 4 dogs that need lots of exercise, then picks up the next 4 dogs.

Don't lose sight of your target. You want to avoid student loans, not impress your friends with how much you can spend.

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3. Economising

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I had a grant for University. Fellow students complained their student loans or college grants were too small. I saved money from the grant by economising.

A dollar saved is four dollars earned. You pay back about twice as much as you borrow, with money from which the IRS has stolen 50%. So each dollar you save avoids earning four.

You can economise on these and have better health.

1. Food

2. Lodgings

3. Health

4. Transport

5. Social life

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1. Food.

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2.Lodgings

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I can only suggest that you shop around. Remember that $20 saved per week is $1000 saved from your student loans each year even without interest payments.

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3. Health

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The damage you do to your body adds up over your lifetime, so it's a good idea to stay healthy. What has that to do with student loans?

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4.Transport

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5. Social Life

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Look for free pastimes. If your friends aren't interested in ways to avoid college loans perhaps you have the wrong friends.

If you finish study at 25 and work till 60 that gives you a working life of 35 years. So a 25 year student loan takes a big chunk out of your life, even if you are never unemployed.

And that's before you take out a mortgage!

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Other ways to economise

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Remember a dollar saved is four dollars in student loans that you won't have to pay back.

Haunting Student Loan Debts

2008-11-03T05:04:00.001-06:00

Author: Henry Byers

About the author: Henry Byers, Retired IRS Manager and IRS Wage Garnishment expert - focusing on State Garnishment and Wage Garnishment

Student Loan Consolidation Programs - How To Take Advantage of Debt Consolidation

2008-11-02T05:04:00.001-06:00

Author: Dean Shainin

Never let the weights of your student loans influence your credit. Take into consideration of consolidating your loans so it will be easier for you to pay them back.

3 Benefits of Student Loan Consolidation Programs

Check before getting a student consolidation loan rate and plan of payment.

A quick Internet search and examination on credit scores and FICO is needed in order for you to learn and get the information necessary so you can analyze your credit score.

Always take into consideration the outlay.

About the author: Dean Shainin is a consultant specializing in student loan consolidation. Get valuable resources, tools, information and more articles on student loan consolidation, visit this site:

Student Loan Consolidation

Federal Student Loan 101

2008-11-01T05:04:00.001-05:00

Author: Natalie Aranda

There may come a time after availing a student loan when you feel that the existing interest rate on your loan is high and that direct

About the author: Natalie Aranda writes about money and personal finance .

Student Loan Consolidation Rates - Helpful Tips

2008-10-31T05:04:00.001-05:00

Author: Dean Shainin

Know Your Credit Before Shopping For Student Consolidation Loan Rates

Refinancing And Home Equity Loans Used For Student Loan Consolidation

Refinancing your home mortgage may be an option to get the best student loan consolidation rates.

It's best to take the time to sit down and research all your options that are available to you to get the best loan and interest rate.

Resources Online For Getting The Best Student Loan Consolidation Rates

About the author: Dean Shainin is a consultant specializing in student loan consolidation. Get valuable resources, tools, information and more articles on student loan consolidation, visit this site:

Student Loan Consolidation

How To Stretch Your Student Loan

2008-10-30T05:04:00.001-05:00

Author: Rachel Lane

http://www.moneynet.co.uk/student-finance-guide/index.shtml ), whilst the money section on support4learning is also a popular internet resource. ( http://www.support4learni ng.com/ ).

If you're concerned about getting the maximum amount of interest on your loan, you could try doing a savings comparison search on the internet. Sites such as moneynet.co.uk ( http: //www.moneynet.co.uk/banking-saving/index.shtml ) and reviewcentre.com ( http://www.r eviewcentre.com/products2312.html ) allow you to compare different accounts alongside each other.

http://www.channel4.com/4money/banking/feat ures/account_aggregation_161204.html )

* * * * * * * * * * * * *

About the author:

About Rachel:

Rachel writes for the personal finance blog Cashzilla.

http://www.cashzilla.co.uk

Student Loan Consolidation Can Help

2008-10-29T05:04:00.001-05:00

Author: Dean Shainin

How Student Loan Consolidation Works

5 Helpful Benefits of Student Loan Consolidation

1. Lower Monthly Payments. Depending on your student loan situation and the type of lender you choose, you may be able to lower your monthly payments by up to 50%

Student Loan Consolidation Help Online

Student Loan Consolidation Helps Relieve Stress

Student loan consolidation can help student loan borrowers focus on their education, instead of debt. With a single new loan and lower monthly payments, you can focus on what's most important, education and your new career. There is no need to lose sleep stressing out about how you're going to pay back all those student loans. There are several agencies and companies online that can help with many resources and information to get the help you need.

About the author: Dean Shainin is a consultant specializing in student loan consolidation. Get valuable resources, tools, information and more articles on student loan consolidation, visit this site:

Student Loan Consolidation

Bad Credit Student Loan - What To Do If You Need One

2008-10-28T05:04:00.001-05:00

Author: Mark Kessler

About the author: Mark Kessler's Student Loans 411 is a comprehensive free resource of college financial aid, including a variety student loan articles.==> Bad Credit Student Loan

I Can't Pay my Loan-Student Guidelines for Recovery

2008-10-27T05:04:00.001-05:00

Author: Jay Moncliff

You graduated and now your student loan is due. The job hasn't come through yet, or you are just in over your head. What can you do about that student loan?

Finally, once you do get a job, they can garnish your wages. Not only will they get the collection fees and hit your take home pay, but your employer will know you defaulted on your loans as well.

If you default, your credit will be damaged. This will prevent you from getting the best available financing deals, a mortgage and possibly even a job.

About the author: Jay Moncliff is the founder of

http://www.saving-loans.com a website specialized on Loan , resources and articles. This site provides updated information on Loan. For more info visit his site: Loan

Student Loan Consolidation - Is It Right For You?

2008-10-26T05:04:00.001-05:00

Author: Dean Shainin

When Should I Consolidate My Student Loans?

What Is Student Loan Consolidation?

When a student first applied for loans from several different government agencies and loan providers, they each gave a different interest rate and term for paying back the loans. The idea of student loan consolidation is to take all the different loans and put them into one simple and easy convenient loan. You then only make one monthly loan payment each month over time. This saves you both time and money by having a lower interest rate and less checks to write every single month.

3 Benefits Of Getting A Student Loan Consolidation

Student Loan - The Basic Facts

2008-10-25T05:04:00.001-05:00

Author: Joseph Kenny

Employment

Loans

So that means that for many students, the only method of paying for college that will be available to them is to take out student loans. Going into debt is always a commitment, and it can be especially stressful before you have even started working and aren't certain how you will pay back the loans. Student loans however, have a number of advantages over regular loans. First of all the rates and terms are more lenient. Student loans are likely to be at a much lower interest rate than most loans that will be available on the market for other purposes. They will also give you plenty of time to get on your feet and find a job after you finish your studies. This means they are not going to be due immediately after graduating.

About the author: Joseph Kenny is the webmaster of the loan information sites http://www.selectloans.co.uk/ and also http://www.ukpersonalloanstore.co.uk. At the Personal Loan Store you can find all the different loan types explained.

Bad Credit Personal Loans Venture Capital Student Loan Personal Bad Credit Loans People

2008-10-24T05:04:00.001-05:00

Author: Steve

Bad Credit Personal Loans

On the whole, bad credit personal loan is a boon in disguise for people with bad credit and may do wonders for them by rejuvenating their businesses or consolidating debts.

Student Loan Consolidation, look this gift horse in the mouth. Part II

2008-10-23T05:04:00.001-05:00

Author: Ian McAllister

Student loan consolidation look this gift horse in the mouth. Part II

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Student loan consolidation is excellent - for for some people. Spot the hidden trap that could ruin your life... a clever animal can steal from a trap without being caught!

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* Part I Don't get into debt. Ways to avoid it.

* Part II This article

* Part III Idea beats student loan consolidation and creates a winning mindset.

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Part II

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Imagine two people

Each has a student loan consolidation debt of $100 000. The born loser will soon have borrowed more. The investor uses the student loan consolidation as a springboard to become a millionaire.

What's different between them? The mindset, and only the mindset. Get the right mindset.

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The big trap

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Have you a strong willpower? Will you go on a spending spree and owe $5000 on each card tomorrow? A student loan consolidation is not for you. Read Part III of this article.

Have you the will power to master your finances? Combine student loan consolidation with Part III.

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What is Student Loan Consolidation?

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You transfer all your existing loans to one low-interest account.

What's in student loan consolidation for you?

* If you have Stafford loans in the USA, you'll have a grace period of six months after graduation to take out a student loan consolidation.

* Interest rates are lower

* Easier to remember payment dates with one loan

* Improved credit rating

Credit cards might charge 20% interest. Wouldn't a student loan consolidation at 5% be better?

Look for extra discounts on student loan consolidation during the grace period. Do you get an extra discount after 2 years of prompt payments.

After your student loan consolidation computers see that you've only 1 loan and you're making regular payments. They give you an excellent credit rating. Don't spoil it with new credit card debts.

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Avoiding student loans

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Have you decided on student loan consolidation?

* Check how much they will lend

* Can you consolidate your other debts... credit card and car loan?

* Will you need proof of income?

* Can you choose between fixed and variable interest?

* Are there pre-payment penalties? Avoid them like the plague!

* What are the penalties if you default? If you are unemployed or lack self-discipline you are likely to default.

* What other loans must you get - mortgage, kid's schooling?

Negotiate. Lenders are eager to lend you money, however much they bluff. They are legally allowed to lend 35 times as much money as they have, and they make no profit until they lend it.

""No start-up costs"" may be good, but low interest rates and absence of prepayment penalties for your student loan consolidation are better.

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What's in Part III

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A better alternative to student loan consolidation?

* Build self discipline.

* How will interest rates for student loan consolidation change next 20 years? Don't know? Then student loan consolidation might not be the best bargain.

* You'll be in control... not at the mercy of student loan consolidation providers.

Don't be a loan addict all your life. The ideas in part III were used by an Australian to become a millionaire.

http://studying-techniques.com/student-loan-consolidation.html (expanded parts II and III)

Student Loan Options For Financing Your Education

2008-10-22T05:04:00.001-05:00

Author: Sintilia Miecevole

Understanding your ACS Student Loan

2008-10-21T05:04:00.001-05:00

Author: Mark Kessler

Student loan debt cannot be wiped out through a bankruptcy filing

2008-10-20T05:04:00.000-05:00

Author: Talbert Williams

Most will have to file under the more stringent Chapter 13. One thing will remain the same no matter how the debtor files for bankruptcy - student loans are exempt from being eliminated in court.

Why Now Is The Best Time To Consolidate Your Student Loan.

2008-10-19T05:04:00.000-05:00

Author: Jeffrey Cash

If you have student loans, consolidating can simplify repayment and lower your monthly payments. Student Loan Consolidation can combine your existing loans and deliver great benefits.

In summary, student loan consolidation allows you to:

About the author: Jeffrey Cash for more helpful information please visit: Mrquikcash.com

Guide to Finding an Alternative Student Loan

2008-10-18T05:04:00.000-05:00

Author: Mark Kessler

The Student Loan

2008-10-17T05:04:00.000-05:00

Author: John Williams

Each of the following are student loans with differing conditions and time frames for repayment:

Should you consolidate student loan bills?

2008-10-16T05:04:00.000-05:00

Author: Pete Glocker

Make the right choice on grace periods, length of loans and consolidation.

By: Pete Glocker

Grace Periods

Length of Loans

Consolidation

Student Loan Consolidation Rates Set to Increase on July 1

2008-10-15T05:04:00.000-05:00

Author: Vanessa McHooley

Student Loans Take the Hardest Hit

The cuts to federal student loans are the worst among cuts to other federal programs including Medicaid, Medicare and food stamps.

Consolidate Student Loans Before July 1 Rate Increase

The following are other provisions affecting student loan consolidation that take effect July 1, 2006. Students and graduates should be aware of the new regulations so that they now can take action: