Consolidate to Save Money on Student Loans

If you have taken out federal student loans and are now crippled by debt, starting this July is the best time in years to consolidate your federal loans.

If you have taken out multiple subsidized or unsubsidized Direct or Stafford Loans from the federal government, or if you’ve taken out Federal Perkins Loans, Nursing Student Loans, PLUS Loans for graduate students, or pretty much any government-sponsored loan for your education–consolidate now. If you consolidate now, you’ll only have to make one lump payment every month that will apply for all of these loans. Ordinarily, this would save you money because these consolidated loans tend to offer lower interest rates. However, starting July 1st, 2008, this will save you even more money: the interest rates on consolidated federal student loans will decrease by 3 percentage points. [Read more]

What To Do If You Fear Defaulting On Student Loans

For many, that student loan is the only way to reach that higher education. College is a vital step especially in today’s world where not only skill and experience is valued but so is education. With this in mind, students are using grants, scholarships, and even loans to reach their dreams and to achieve that piece of paper. [Read more]

Young Americans And Debt

Debt is a word that is not often associated with the young and carefree twenty year olds of current pop culture. However, more and more young people are incurring debt for a number of reasons and are doing so at an alarming rate. It is no surprise that college graduates are the ones leading the pack when it comes to debt accumulation. This group of young adults is more likely to find themselves with much more debt then their twenty something contemporaries who have not attended college or university. The new graduates leave college with impressive degrees, and along with these degrees, impressive debts. [Read more]