Federal Debt Consolidation Loans For StudentsWritten by Roy Thomsitt
For American students, U.S. Government came up with a plan that can help a student manage their student loan debt. The plan they came up with is called a Federal Direct Consolidation Loan. It does not matter if you are a recent graduate student, well into your career already, still at school, or in your grace period for repayment of a student loan. For any of those student categories, a Federal debt consolidation loan may be applied for.
Students successful in their application for a federal debt consolidation loan may reduce amount they need to repay each month, or increase time that they have to pay off their current debt.
How Does a Federal Debt Consolidation Loan Help a Student Pay Off Their Debt?
For a student who has student loans under several different programs, bringing them all together under one direct Federal Debt Consolidation Loan can make your debts easier to manage. By combining all of your loans into one, you're only responsible for making one payment to one lender - U.S. Government. To help make option of debt consolidation more attractive, there are four flexible payment plans available, including two that which take income and/or income expectations into account.
The Federal Debt Consolidation Loan is Available to Help you Manage your Student Debt.
Student loan debt is not something that you want dragging at your feet like a ball and chain. It provides a good opportunity for students to learn to manage their finances. Even if you are still at school, it is a good time to learn to manage your debt. That will hold you in good stead as a consumer long into future. For example, if you choose to consolidate all your student debts into one before you leave school, you can lock in an interest rate that as much as .6% lower than if you attempt to refinance later, after you have left and are no longer a student.
For more how a Federal Direct Consolidation Loan can help lower your repayments, and manage your student debt, you can visit Department of Education's web site. Once there, you can make use of their online debt calculator at https://loanconsolidation.ed.gov to estimate your projected monthly payment under various plans.
What Is Foreclosure?Written by Ben Shar
Can foreclosure be avoided? For many people, worst thing that can happen to them is foreclosure on house that they have dreamt about all their lives. But, there are things that you can do to save yourself this painful experience even if you are in midst of it. Foreclosure is bank foreclosing or taking back your home and property due to lack of payment. For many people, foreclosure is an event that just hurts.
For those who are in foreclosure now, you could be facing fact that you may just never get out of it. But, during every stage of foreclosure, you have opportunity to pay up. If you can not do this, perhaps you have taken on too much of an investment. In any case, getting out of it will be difficult, but it can be done.
It is important to note that banks are not in business of owning homes. They simply want to make money off interest you pay in mortgage loan you take out. While this may not seem of importance, it really is. The banks will often do everything they can to keep you out of foreclosure as well. So, if you are in position where you can not afford a payment that month, call bank and see what they can do for you.