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The average student leaves college with a student loan debt of $10,000. For some students, though, this amount is much higher. Consolidating all of your student loans into one single debt can provide many advantages.
There are many services that offer student loan consolidation programs, but some are far better than others. TopConsumerReviews.com reviews and ranks the best student loan consolidation services available today.
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Whether you have federal student loans (such as Stafford, PLUS, or Federal Perkins loans) or private student loans, there are a number of student loan consolidation services that can help you consolidate your loans into one single debt. This can result in lower interest rates, and, in some cases, dramatically reduced monthly loan payments. Many consolidation services offer fixed interest rates for the
life of the loan,
which can lock in your savings for years to come. This is good since consolidation loans typically have longer terms than other loans-usually anywhere from 10-30 years.
A recent study by the National Center for Education Statistics shows that half of all recent college graduates have an average student loan debt of $10,000. For some students, this amount is much higher. Additionally, many students receive loans from a number of sources.
There are many advantages to consolidating all of these loans into a single debt. With interest rates at record lows, you will most likely receive a better rate by consolidating your loans now than when you first got your loans. The second advantage is reducing the number of creditors you have, which makes it easier to keep track of monthly loan payments. Additionally, consolidating your student
loans into a single
debt simplifies the repayment process, making it less likely that you will default on your loan payments.
There are a number of services available to help you in this process. Some only offer federal student loan consolidation, while others enable you to consolidate both federal and private student loans. Therefore, it is important to make sure that the student loan consolidation service you choose meets your student loan consolidation needs. Additionally, while some websites provide instant, online loan quotes,
other websites
do not. You will want to make sure that the service you select provides you with the information you need to make consolidation decisions.
There are a variety of issues to consider when looking for a student loan consolidation service. Some of these include:
• Information. Does the website provide adequate information to help you make student loan consolidation decisions?
• Quality of Service. Does the website provide consolidation solutions that meet your needs?
• Professionalism. Is the website professional and credible? Does the consolidation service have a strong reputation in the industry?
TopConsumerReviews.com has rated the best loan consolidation programs available. We hope you find this information valuable in selecting the student loan consolidation service that is right for you.
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Student Loan Consolidator offers both federal and private loan consolidation to significantly lower your monthly loan payments.
First, Student Loan Consolidator offers you a step-by-step tutorial to help you decide if consolidation is right for you. This is very useful and shows you just how much you can save by consolidating your student loans.
For federal student loans, Student Loan Consolidator offers a very aggressive fixed-rate refinancing program that combines all of your federal student loans into a new loan. This can cut your current student loan payment in half.
For private student loans, Student Loan Consolidator also offers a consolidation program, which can reduce your current payment by up to 50%. For this program, Student Loan Consolidator offers no application fees and conditional pre-approval within minutes when you apply online. Additionally, you receive a 0.25% interest rate reduction if you agree to pay your bill by
automatic checking
account withdrawal. As an special added bonus, interest-only payments are available for the first 24 months, which can provide additional savings for the first two years.
If you have any questions, you can reach a loan counselor by calling the toll-free phone number provided. The website is professional and offers a lot of good information to help you make an educated decision regarding loan consolidation.
With loan programs for both federal and private loan consolidation, special options such as an interest-rate reductions and interest-only payments, and detailed information to help you make educated loan consolidation decisions, Student Loan Consolidator earns our highest rating.
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Chase is a leading financial services institution and one you can trust when it comes to federal student loan consolidation. Their online application is quick and easy, and you can find out whether you are eligible for their services within moments. Chase has a team of knowledgeable customer service representatives who can provide you with professional assistance and advice as you
go through the consolidation process. They also offer a .25% ACH interest rate discount over the life of your loan, and you can count on a secure online process.
Chase has a professional website that is easy to navigate and use. To consolidate with Chase, you must have at least $7,500 in federal student loans. Consolidation with Chase can lower your monthly payment by as much as 45% and allow you to start rebuilding your credit rating. The website includes easy access to a student loan consolidation calculator, FAQ's,the ability to find your
federal student loan information, and a page dedicated to information about who should consolidate their federal student loans.
Chase offers professional service, an easy to navigate website, and they are a trusted financial services company. We are impressed with the information they offer and their consolidation programs. However,Chase does not quite offer the same level of service as our higher-rated
selections.
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My Student Loan Page offers student loan and credit card consolidation loans. The website is not very professional and only provides limited information for you to review as you try to make a decision about student loan consolidation.
My Student Loan Page claims to be the "number one source" for student loan consolidation. From the limited information we could gather, once you fill out a brief information form, they will shop your application out to potential loan providers. The website also offers payday loans, personal loans, cash advance loans, bad credit loans, refinancing options, debt consolidation,
and second mortgage loans. This seems odd for a site called My Student Loan Page, and we think it exemplifies the fact that this website is actually something other than what it claims to be.
Trying to get more information about My Student Loan Page and the services they provide inevitably leads you back to their own marketing spin - "Nation's leading online student loan service," "state of the art system," and so on. While their promotional department may have worked overtime to come up with these slogans, we wish they would have supplied information
about their services instead.
Unfortunately, My Student Loan Page fails to deliver sound advice or a professional service. Therefore, we suggest you look elsewhere for your student loan consolidation needs.
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Student Loans in the News
Conn. would waive student loans in ’green’ jobs - WNYT
(AP) HARTFORD, Conn. - Paul Goulet hopes Connecticut will help him get from under nearly $8,000 he’s borrowed for college after losing his job in a paper manufacturing plant. Goulet, 55, is a student in environmental studies at Goodwin College in ...
Publ.Date : Sun, 14 Mar 2010 19:17:00 GMT
Lincoln ripped on student loans - Arkansas Times
Moveon.org rips Sen. Blanche Lincoln for opposing changes to the student loan program that would save money, help students but, not incidentally, make it harder for bankers to profiteer at government expense. MOVEON NEWS RELEASE A new Web video ...
Publ.Date : Thu, 18 Mar 2010 15:09:00 GMT
Here's a Smart Option on Student Loans: Pay a Little ... - Forbes
BusinessWire - Most college students defer payments on student loans until after graduation, but Sallie Mae, the nation's leading saving, planning and paying for education company, is urging students to consider a new idea: pay a little now to save a ...
Publ.Date : Wed, 17 Mar 2010 15:46:00 GMT
Editorial: Federal control of student loans unwise - Detroit News
Leaders in the U.S. House, looking for ways to smooth the passage of controversial health coverage reform, have added an overhaul of the federal student loan process to the package. Under the proposal, private lenders would be cut out of originating ...
Publ.Date : Wed, 17 Mar 2010 04:55:00 GMT
Ten Things Americans Should Know About Student Loans - Santa Clarita Radio
The countdown is on. The White House and Congressional Democrats are readying a series of complex legislative maneuvers they hope will secure final passage of a wildly unpopular health care scheme comprised of thousands of pages of legalese, millions ...
Publ.Date : Thu, 18 Mar 2010 15:09:00 GMT
Conn. Would Waive Student Loans In 'Green' Jobs - News4Jax.com
HARTFORD, Conn. -- Paul Goulet hopes Connecticut will help him get from under nearly $8,000 he's borrowed for college after losing his job in a paper manufacturing plant. Goulet, 55, is a student in environmental studies at Goodwin College in East ...
Publ.Date : Mon, 15 Mar 2010 13:04:00 GMT
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