student loans debt consolidation

Debt Consolidation -- Consolidate Your Student Loans Now! By: Charles Essmeier The Federal student loan program has benefited thousands of college students in the forty years since it was introduced. Interest rates for the program have historically been quite competitive, and the program has allowed many people to acquire a college education who otherwise might not have been able to afford one. At the moment, interest rates on Federal student loans are the lowest in history, but that is about to change. On July 1, 2005, the interest rates on Federal student loans will rise, due to an increase in the price of Treasury, bills, to which the interest rates on student loans are tied. While an increase in interest rates is seldom viewed as a good thing, knowing about it ahead of can be helpful. Between now and June 30, new graduates or those who have been repaying existing loans can consolidate their student loans at current rates. The rates currently vary, with fixed rates being slightly higher than adjustable rates. Those considering consolidation might wish to convert their loan to a fixed rate. Depending on the amount of the loan, borrowers may extend their loan terms to as long as 30 years. There is also legislation pending in Congress that would change the Federal loan system so that all future loans are adjustable rate, with no fixed rate option. This will save the government money by not allowing students to lock in long-term loans at low rates during times of increasing interest rates. Students who wish to obtain a fixed rate loan may not have much longer to do so. Rates will vary slightly from lender to lender, and the market for loan consolidation is quite competitive. Those wishing to consolidate their loans should consider shopping around for the best deal while time permits. ©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and HomeEquityHelp.net, a site devoted to information regarding home equity loans.

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Student Loans Debt Consolidation Related News

• Consolidation countdown for student loans (The Indianapolis Star)
  Class of 2006 college graduates, listen up. Graduates typically have a six-month grace period after leaving school before their first student loan payment is due. Soon the reality of all that debt will set in.

• Struggling to repay college loans? (The Santa Rosa Press Democrat)
  With the cost of higher education soaring every year, students are often forced to take out larger federal student loans. Half of all college graduates with loans owe $19,300, up from $12,000 a decade ago. And many are unprepared to write those checks when it comes time to pay back that debt.

• Now's The Time To Consolidate Student Loans (The Tampa Tribune)
  Class of 2006 college graduates, listen up. It's been almost six months since you left school. During this time, you haven't had to pay a penny on your student loans.

• Michelle Singletary: First student loan payments about to come due (The Shreveport Times)
  Class of 2006 college graduates, listen up. It's been almost six months since you left school. During this time, you haven't had to pay a penny on your student loans. That, as you know, is about to end.

• Students get hard lessons on loans (Chicago Tribune)
  Many unprepared when time to pay With the cost of higher education soaring every year, students often are forced to take out substantial federal student loans. And many are unprepared to write those checks when it comes time to pay back that debt.

• Weigh options carefully when repaying student loans (Baltimore Sun)
  With the cost of higher education soaring every year, students often are forced to take out substantial federal student loans. And many are unprepared to write those checks when it comes time to pay back that debt.

• It’s time to save on student loans (Lawrence Journal-World)
  Class of 2006 college graduates, listen up. It’s been almost six months since you left school, and you haven’t had to pay a penny on your student loans.

• Hard Lessons On Student Loans (Hartford Courant)
  Some Who Borrow Substantial Sums Default; Others Stretch Out Payments, Adding Interest With the cost of higher education soaring every year, students often are forced to take out substantial federal student loans. And many are unprepared to write those checks when it comes time to pay back that debt.

• Why You Should Consolidate Your Student Loans (Wellsville Daily Reporter)
  (ARA) - Graduation is just around the corner for thousands of students, and shortly after they walk down the aisle, many in the Class of 2006 will find themselves facing hardships they didn't anticipate when they began the pursuit of their degree.

• Student loan options (The State)
  Having trouble repaying your federal student loans? Here are some of the options that can lower your monthly payment. Remember, though, plans other than the standard one could increase the length of payments and total interest owed.

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