tag:blogger.com,1999:blog-91805503676506579702012-02-16T18:08:42.725-08:00nakedguyhttp://www.blogger.com/profile/09043667299036549136noreply@blogger.comBlogger11100tag:blogger.com,1999:blog-9180550367650657970.post-91879835540950613792008-03-12T02:06:00.000-07:002008-03-12T02:13:45.922-07:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://bp0.blogger.com/_ibWJJLl2XSQ/R9eemltx4cI/AAAAAAAAAAM/2at-r-vVO9g/s1600-h/img_tellafriend.jpg"><img style="margin: 0pt 0pt 10px 10px; float: right; cursor: pointer;" src="http://bp0.blogger.com/_ibWJJLl2XSQ/R9eemltx4cI/AAAAAAAAAAM/2at-r-vVO9g/s200/img_tellafriend.jpg" alt="" id="BLOGGER_PHOTO_ID_5176780682482016706" border="0" /></a><br /><span style="font-size:85%;"><strong>Loan consolidation</strong> is the channel through which you can bring all your loans under one single policy and reduce the monthly payments by increasing the duration of the loan. Consolidation has loads of benefits, some being: </span><ul><li><span style="font-size:85%;">Lower rate of interest</span></li><li><span style="font-size:85%;">Locking in loans at a lower interest rate</span></li><li><span style="font-size:85%;">Lower monthly payments</span></li><li><span style="font-size:85%;">Worrying about just one loan instead of many</span></li><li><span style="font-size:85%;">Longer repayment schedule</span></li></ul><span style="font-size:85%;"> Bear in mind that we are talking specifically about student loans. There is consolidation available from other type of loans too, but at <strong>EdFed</strong> we deal with only your student loans. <br /><br />The logic behind consolidation is simple. consolidation merges all your loans and bills into one single payment. It reduces your (the borrower's) monthly bill of loan repayment. In simpler terms, think of it this way: If you have to pay $100 in 5 years, you pay $20 every year (ignoring any interest component), and if you have to pay the same $100 in 10 years, you pay $10 every year. And in certain cases, the monthly payment burden gets reduced, and the loan payment period also doesn't get increased. This is what consolidation does; it reduces your monthly expenditure on loan repayment and gives you that extra cash in hand.<br /><br /> Now to tell you a little bit more about the <strong>Student Consolidation Program</strong>. If your loan is eligible to be consolidated under this program (see the list below) then you don't have to worry about variable interest rates anymore. Under the <strong>Student Consolidation Program</strong>, the interest rates are fixed based on many technicalities such as the amount of loan outstanding, the interest rate currently paid, etc. This rate of interest would be fixed throughout the life of your loan. So no more watching the interest rate markets for fluctuations that can hamper your lifestyle.<br /><br /></span> <table border="0" cellpadding="0" cellspacing="0" width="472"> <tbody><tr> <td class="textlightblue" align="left"><span style="font-size:85%;"> The list of loans that can be consolidated under the <strong>Student Consolidation Program</strong>: </span><ul><li><span style="font-size:85%;">Unsubsidized Federal Stafford Loans</span></li><li><span style="font-size:85%;">Federal Parent Loans for Undergraduate Students (PLUS)</span></li><li><span style="font-size:85%;">Federal Supplemental Loans for Students (SLS)</span></li><li><span style="font-size:85%;">National Direct Student Loans (NDSL)</span></li><li><span style="font-size:85%;">Health Professions Student Loans</span></li><li><span style="font-size:85%;">Federal Perkins Loans</span></li><li><span style="font-size:85%;">Subsidized Federal Stafford Loans</span></li><li><span style="font-size:85%;">All Federal Direct Student Loans (Direct Loans)</span></li><li><span style="font-size:85%;">Health Education Assistance Loans (HEAL)</span></li><li><span style="font-size:85%;">Nursing Student Loans</span></li><li><span style="font-size:85%;">Student Consolidation Loans</span></li><li><span style="font-size:85%;">Federally Insured Student Loans (FISL)</span></li><li><span style="font-size:85%;">Loan from the Department of Education</span></li></ul> </td> <!-- <td width="210" align="right" valign="top"><table width="200" cellspacing="0" cellpadding="0" border="1" bordercolor="#0f2149" bgcolor="#d3e5f1"> <tr> <td width="200" class="textblue2" height="25"><img src="http://www.edfed.com/images/blanker.gif" width="7" height="1" border="0" align="absmiddle" /><strong>Further Reading</strong></td> </tr> <tr> <td class="textblue2" align="center"> <table width="190" cellspacing="0" cellpadding="2" border="0" class="textlightblue"> <tr> <td height="5" colspan="2"><img src="http://www.edfed.com/images/blanker.gif" width="1" height="5" border="0" /></td> </tr> <tr><td valign="top"><strong>+</strong></td><td><a href="'http://www.edfed.com/resources/articles/index.php?id=">You can cut your student loan costs</a></td></tr><tr><td valign="top"><strong>+</strong></td><td><a href="'http://www.edfed.com/resources/articles/index.php?id=">Consolidating Debt</a></td></tr><tr><td valign="top"><strong>+</strong></td><td><a href="'http://www.edfed.com/resources/articles/index.php?id=">EdFed Savings</a></td></tr><tr><td valign="top"><strong>+</strong></td><td><a href="'http://www.edfed.com/resources/articles/index.php?id=">Got a Great Job? You Should Still Consolidate!</a></td></tr><tr><td valign="top"><strong>+</strong></td><td><a href="'http://www.edfed.com/resources/articles/index.php?id=">How Consolidation Can Ease the Social Stigma of Debt</a></td></tr><tr><td valign="top"><strong>+</strong></td><td><a href="'http://www.edfed.com/resources/articles/index.php?id=">Special Student Report: What You Need to Know About Student Loan Consolidation</a></td></tr><tr><td valign="top"><strong>+</strong></td><td><a href="'http://www.edfed.com/resources/articles/index.php?id=">Students Who Wait to Consolidate May Miss Out</a></td></tr><tr><td valign="top"><strong>+</strong></td><td><a href="'http://www.edfed.com/resources/articles/index.php?id=">The Benefits of Federal Loan Consolidation</a></td></tr> <tr> <td height="5" colspan="2"><img src="http://www.edfed.com/images/blanker.gif" width="1" height="5" border="0" /></td> </tr> </table> <table width="100%" cellspacing="0" cellpadding="0" border="0" bgcolor="#9fe2ff"> <tr> <td width="100%" align="right" class="textlightblue" height="25"><img src="http://www.edfed.com/images/arrow_white.gif" width="16" height="16" border="0" align="absmiddle" /> <a href="http://www.edfed.com/resources/articles/edfedarticlearchive.php?catid="><strong>read similar articles</strong></a> <img src="http://www.edfed.com/images/blanker.gif" width="7" height="1" border="0" /></td> </tr> </table> </td> </tr> </table> </td> --> </tr> </tbody></table><span style="font-size:85%;"> If your loan falls under any of the above, then loan consolidation is a realistic option for you. <br /><br />Irrespective of whether you are still a student or you have graduated, you can consolidate with EdFed and ensure lower interest rates and better terms</span><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/9180550367650657970-9187983554095061379?l=nextteen.blogspot.com' alt='' /></div>nakedguyhttp://www.blogger.com/profile/09043667299036549136noreply@blogger.com0