| 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.
Bayh proposes student loan relief for soldiers, spouses
Interest would not accrue on federal student loans for active duty soldiers and their spouses under the Interest Relief Act introduced by U.S. Senator Evan Bayh. For those activated for 12 to 15 months, the bill could mean an average savings of between $1,183 and $1,479 in interest over their activation period, according to Congressional Research Service estimates. Under the Interest Relief Act, eligibility would include active duty soldiers of any branch of the military, including reserve units and the National Guard and their spouses, who have student loans through the Federal Direct Loan Program. The interest accrual deferment could be for up to five years while on active duty. Members of the armed forces can already defer payments on their student loans while on active duty, but the interest continues to accrue.
MyRichUncle(TM) Announces Their 2007 Federal Loan Products and ...
NEW YORK, July 5 /PRNewswire/ -- Today, MyRichUncle(TM) announced the details of their Federal Family Education Loan (FFEL) program, which includes Stafford, PLUS and Graduate PLUS loans, for the 2007-2008 academic school year. Among national student loan providers, MyRichUncle offers the most competitive discounts on their Federal student loan products. Students and parents who borrow their Federal loans from MyRichUncle will enjoy the benefit of interest rate discounts that begin at repayment and are not contingent upon making a particular number of on-time payments, which has long been an industry norm. Moreover, MyRichUncle has set themselves apart from other lenders in that their borrowers do not risk losing this benefit because of a late payment. This is important because it has been reported that over 90 percent of borrowers lose interest rate discounts or their ability to qualify for additional borrower benefits due to late payment.
5 Things You Need to know Before Securing Any Student Loans
If you are high school senior or a college student you most definitely should have your attention on your financial condition. If you don't instead of majoring in your field of choice you will be majoring in college debt. Federal student loans are offered to most students entering college. Many students would not be able to attend their chosen College or University if it were not for College Loans. For that reason so many students get into large amounts of debt and have problems with student loan repayment after graduation. 1. Student Loans are YOUR responsibility Often Students are so desperate to attend college they sign their lives away not knowing the loans will have to be paid back by YOU. 2. The Difference Between Student Loans Subsidized loans are not due until 6 months after the last day you attend school.
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.
How much student debt is too much?
In a couple of weeks, students bound for college this fall will have to come up with shocking amounts of money -- maybe $10,000, or more, for their tuition, room and board. But it's not as bad as you might think. You can put yourself on a payment plan -- making monthly payments the same way people pay for homes in bite-size pieces. And on Sunday, look inside the business section. I explain how to pick through the confusing array of student loans. You will get a lot of information. But in a nutshell, it's quite easy. Stay away from private loans, like those you see at banks and on the Internet, if you can. And take out federal student loans. The best deal: Perkins loans. Next: subsidized Stafford loans. Then: unsubsidized Stafford Loans.
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