what is debt consolidation and what does it entail?

by timowri March 7th, 2010. Filed under: Financial Aid.

Black R asked:


debt consolidation for student loans

student loan consolidation
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3 Responses to what is debt consolidation and what does it entail?

  1. Yvette B yvetteb

    student loan consolidation

    depends upon what kind of loans they were (who they were from) and who’s doing the consolidation.

    links below may help answer details you want, no one knows the answers unless they know who lent it and whos consolidating it.

    ——————————
    There are government loans & grants, and then there are private loans & scholarships.

    try to aim for grants/scholarships more… they are not to be paid back. its confusing sometimes, but just keep applying. Scholarships usually have a 1 or 2 page application, and require an essay. Take your time with the essay, so yours stands out.

    every big (and small) company you see (manufacturer, orgs, corps and groups also) all have grants and scholarships they hand out like candy. Walmart, Kmart, Target, Coke, computer companies etc etc etc

    here are some links with a HUGE list of what is available. some you will need to copy and paste into a new window. also, fastweb (take the time to fill it in) will search databases and get back to you with a list of scholarships you qualify for.

    Also contact all mens, womens associations in your state, they almost always have grants & scholarships. What ever field you are going into, contact the orgs, associations etc for them; Also check with professional organizations related to your career interests, such as the American Bar Association or the American Medical Association. they also always have scholarships. Research and dig, call then write. Its all worth it.

    OVER apply; it doesnt hurt to have too many, and the extra funds can help with housing.

    YOU MAY NEED ADOBE READER:
    (yes, its free)

    TESTING & PRACTICE TESTS
    (SATs, PSATs, ACT, GRE LSAT, MCAT, GMAT,TOEFL, etc)

    TURNITIN
    (don’t copy papers, teachers/professors
    DO check your papers with this)

    INFO
    NACAC & COMMONAPP

    DVD TOURS OF COLLEGES

    CRIME STATS, DATA OF COLLEGES

    OTHER BENEFITS

    SCHOLARSHIP LIST

    MORE SCHOLARSHIPS, HELP & INFO:

    MISC FIELDS OF STUDY

    NURSING / CAN

    BECOMING A TEACHER

    CHILDREN OF MILITARY

  2. payingcollege

    Create a video blog…instantly.

    Consolidation means you pay off all your federal or private student loans and get one new loan for the total amount you owe. Many students consolidate for two main reasons: they get to have just one bill and one place to manage their loans and by extending their repayment term (up to 30 yrs) they can lower their monthly payment amount.

    Keep in mind that if you pay the minimum each month, you will end up paying more interest over the life of the loan (just like a credit card).

    Lots of shady characters have entered the consolidation market lately – so it’s important to stick with a large, reputable company that has experience in consolidation and won’t just “flip” your loan.

    Sallie Mae has lots of information on its website, including an FAQ and a calculator so you can see what your monthly payments might be.

  3. pioneerlendersmod

    Kansieo.com

    It’s another way of saying that you are going to aggregate all your student loans into one loan. This way you don’t have to pay multiple lenders, you just have one loan and one payment. We offer a student loan consolidation program, if you are interested in learning more.

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