| Fitch Rates Chase Education Loan Trust Student Loan-Backed Notes
The ratings are based on the transaction's credit enhancement, which reflects the high credit quality of the Federal Family Education Loan Program (FFELP) consolidation student loan collateral and the transaction's legal and financial structure. The expected ratings reflect the ability of the trust to pay note principal at maturity and timely interest as reflected in the cash flow stress scenarios. The credit enhancement will consist of the excess spread, a reserve account funded at $2.9 million with a reserve minimum of the greater of 0.25% of the student loan principal balance or $1.77 million; and a capitalized interest account with an initial balance equal to $29 million. In addition the class A notes will also benefit from subordination provided by the class B notes. Additionally, the trust has entered into an investment agreement with Depfa Bank Plc., dated as of July 2, 2007.
NextStudent Federal Consolidation Loans Could Help Make Student ...
PHOENIX, AZ--(Marketwire - July 30, 2007) - Recent college graduates facing either just one or multiple federal education loans may want to take the reins on their debt repayment plan with a Federal Consolidation Loan before their grace periods end and repayment begins. Consolidating multiple student loans with multiple payments and due dates into a single loan with one easy-to-manage payment may be the best option for busy borrowers juggling the demands of the real world with the limitations on their pocketbooks. Living paycheck to paycheck may be an unavoidable reality as college graduates work to get their careers off the ground, but student loan consolidation offers potential monthly payment reductions that could help ease the burden on a monthly paycheck, according to NextStudent, a leading Phoenix-based education funding company.
Student Federal Loan Consolidation - An Answer To Unmanageable ...
Higher education comes with higher costs and the students take so many loans during their studies that going in for student federal loan consolidation is the best option for them to pay-off their loans in a more organized way. By the time the education is complete, people are totally in debt. Moreover, when repayment starts, the various loans they have taken become quite a burden as well as confusing. In this situation, the federal loan consolidation is a student debt consolidation program in which the students can consolidate all their educational loans into one loan at lower monthly payments, fixed interest rates and longer terms with some other benefits too. Benefits And Plans Available Student federal loan consolidation is a very simple and effective way to lessen the loan burden.
Calling all Procrastinators: There is Still Time to Consolidate ...
La Jolla, CA (PRWEB) July 1, 2007 -- There is still time for procrastinators to consolidate their student loans before the clock strikes twelve on June 30, 2007. That's when interest rates on existing, variable-rate federal student loans will jump 0.08 percent (8 basis points) raising the rates from 6.54 percent to 6.62 percent. Thanks to ScholarPoint's user friendly online application process that includes e-sign technology, recent grads can wait until 11:50 Saturday night to apply for a consolidation loan. "Although we don't recommend waiting that long, our innovative system allows borrowers to complete their application entirely online in under ten minutes 24 hours a day. ScholarPoint staff will also be on hand and ready to answer questions," said Chris Studer, President and CEO of ScholarPoint.
Paying down student loans
She is struggling with how best to advise her daughter -- a recent college graduate -- on paying down her $25,000 in student loans. Wons did what any wise parent would do. She asked for help. Here's the background. Wons' daughter works as a project manager at a medical software company. She has an annual salary of more than $50,000. Her employer provides a 401(k). She has about $13,000 in cash from recently redeemed Series EE savings bonds. She has no credit card debt. She has no payments on a reliable car with low mileage. She's sharing an apartment and other living expenses with an older sister in Madison, Wis. Her portion of the rent is just over $500 a month. Wons is unsure about the course her daughter should take with her debt. She asked the following: Should the daughter consolidate her college loans during her six-month grace period? (She has federally backed Stafford and Perkins loans.) Should she use the entire $13,000 to pay down the loans or keep making monthly payments to take advantage of the interest deduction? Should she invest all of the $13,000? While paying on the loans, should she contribute to her 401(k)? Let's take the consolidation question first.
Student Federal Loan Debt Counseling - The First Step To Financial ...
Student federal loan debt counseling has helped a number of students deal with the burden of accumulated student debts. Higher education today has become an expensive affair and in many cases, students simply cannot continue with their studies without some external financial help. Student federal loan consolidation is one of the best ways to tackle the problem of rising student debt. With a growing number of students taking out multiple loans, each at a different interest rate, the need for a student debt consolidation package has never been higher. Student federal loan debt counseling can help students take control of their financial situation. Getting Back In Charge The first step in bringing your debt under control is to get back in charge of your financial situation.
Interest rates on existing variable rate student loans to increase ...
There is still time to lock in lower interest rates through student loan consolidation; Sallie Mae offers tips and advice on managing repaymentRESTON, Va., June 27, 2007Interest rates on existing, variable-rate federal student loans will jump by 8 basis points (0.08 percent) this Sunday, July 1. Customers who submit their Federal Consolidation Loan application online by midnight (PDT) on June 30, can avoid the increase and lock in todays lower interest rate. Many students with variable-rate student loans stand to benefit by consolidating their student loans before July 1. An application for student loan consolidation and related information are available at www.SallieMae.com/Consolidation. Completing your student loan consolidation application is quick and easy, said Patricia Scherschel, vice president of loan consolidation, Sallie Mae.
Consumers Warned About Unethical Predatory Lending
(SitNews) - The Alaska Commission on Postsecondary Education (ACPE) and the Alaska Department of Law are advising consumers to be on the alert for high pressure campaigns relating to Federal Stafford Education Loan consolidation. This advisory was generated due to increased reports of Alaska citizens being targeted with unethical predatory lending techniques.
According to reports received by the ACPE, some lenders that offer student loan consolidations are making blatant misrepresentations about the terms of the loans they offer. They claim the borrower will receive reduced interest rates, lower minimum monthly payments, cash incentives and borrower benefits, but in fact these claims don't add up to savings for the borrower.
"It may sound like you are getting a good deal.
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