Saturday, November 04, 2006

Students-Loan a money- JUST IN TIME !!!!!

Consolidating your student loans today could lower your monthly payment by as much as 50%.

Benefits of consolidating your loans:

Lock into a fixed interest rate
Lower your monthly payments
Have only one bill to pay
No application fees or credit checks
No co-signer is needed
Experienced Customer Service Staff

How does consolidation work?

A federal consolidation loan combines all of your existing eligible federal education loans into one new loan, with an interest rate that won’t change. Your loan immediately becomes easier to manage because you have only one company to talk to and one monthly payment to make.
Federal student loan consolidation is not a debt counseling service and will not hurt your credit. In fact, consolidation can be a smart way to manage your student loan debt. Consolidation can reduce your monthly payments by up to 50% by giving you more time to pay off the loan.
The consolidation processThe consolidation process takes approximately 6-8 weeks.
You submit your consolidation application.
We process your application and contact your existing loan holders, requesting pay-off.
Once your information is returned from your loan holders, your old loans are paid-off and the balances are transferred into one new loan.
We send you a “Truth In Lending Disclosure Statement” which outlines your new loan’s term, balance, and monthly payment amount.
We send your first billing statement for your consolidation loan.
During this time it is important that you continue to pay the student loan bills you receive.
When to applyAlthough there is no deadline to consolidate your loans, each year interest rates change on July 1st and can go up as high as 8.25%. Because the interest rate on a consolidation loan is based on the weighted average of your existing loans, it is best to consolidate now while the interest rates are lower.