01/9/13

Education Loan Consolidation

When you consolidate education loans, you can lower your monthly education loan payment by as much as 60 percent. The key is to find the right lender and the right interest rate. To learn more about it please visit http://500fastcash.paydayloansnews.org/ site.

When comparing lenders, you should consider payment fees, interest rates, and loan terms. If you are looking for reputable education loan consolidators online,

Loan Approval Direct
With a education loan consolidation loan, Company can reduce your monthly education loan payments by as much as 60 percent. Loans as high as $125,000 can be approved and there is no collateral required. Loan Approval Direct also offers interest rates as low as 3 percent.

01/9/13

Tips for Eliminating Student Loan Debt

Business school is expensive. Once you graduate, the stress of paying back student loan debt can seem overwhelming. If you are sick and tired of barely scraping by, here are some tips that may help you eliminate student loan debt once and for all. To learn more about it please visit http://500fastcash.paydayloansnews.org/ site

Consolidate Student Loan Debt
Most lenders are more than willing to loan you the money that you need to pay for business school. Unfortunately, your loan may carry a high interest rate, especially if you had no credit or less than perfect credit at the time you took out the loan. If you have multiple loans, this can be a huge problem. By consolidating your student loan debt, you can get a better interest rate and lower your monthly payments. You will also have the convenience of making only one payment each month instead of several.

Refinance Student Loan Debt
Though consolidating can save you money and lower your payments, it may not bring the month-to-month relief that you need. By refinancing student loan debt, you can lengthen the term of your loan. This can spread out your student loan debt over a longer period and lower your monthly payments by as much as 50 percent. However, you should think carefully before going with this option. You may end up spending more over the life of your loan.

Make Payments Faithfully
If you want to eliminate your student debt once and for all, the most important thing you can do is make your payments. By missing payments or making late payments, you only increase the student loan debt that you already have. Make those payments faithfully and the debt will go away.

01/9/13

Should I Pay Off My Education Loans Early?

It is very common to graduate with education loans. Many people carry the education loan debt with them, even when they do not have any other debt. You may be wondering if you should include your education loans in your debt payment plan or if you should pay your education loans off early. You should pay off your education loans as quickly as possible. To learn more about it please visit http://500fastcash.paydayloansnews.org/ site.

1. Lower Your Debt to Income Ratio
One good reason to pay off your education loans is that it will lower your debt to income ratio. This means that you have more money available to you when it is time to buy a house or make other decisions. You will not have the commitment to make that additional payment every month. This frees up your money, and you have the opportunity to invest it and really begin to make money.

2. What About the Tax Break?
One common misconception about education loans is that you should keep them for the tax break. This may be enough reason to put the education loans at the end of your debt snowball, but you should realize that that only $2500.00 of the interest can be deducted each year. Additionally the amount starts to phase out if you make more than $65,000.00 a year, if you are single. Finally, you will still end up paying money either to interest or to taxes.

3. How Much is the education Loan Costing You?
Even if you can deduct the majority of interest you are paying on your education loan, you should consider how much money you are losing each month because you have the payment. If you invest it in a mutual fund, you can be earning high interest rates on your investment. Even if you are not paying interest, you are losing the earning potential of the amount of your payment each month.

4. Education Loan Debt is Virtually Unescapable
Many people who are overwhelmed by education loan debt hope that bankruptcy may offer a solution to their problem. However, if you declare bankruptcy, you still must pay your education loans back. The only way to avoid this is become permanently disabled or to die. If you hit a spell of bad luck, it is that much harder to get back on top of things with education loan payments. Once you pay your education loans off early, you will be much better equipped to deal with financial crises in your life.