Slash Your Credit Bill

By: Greg Prather

If you have several loans for post-secondary education, it just makes sense to group them together. You will definitely get a lower interest rate and one check to write each month, which is so much easier. You may feel trapped and desperate, but do not settle on the first student loan consolidation service you find. On the other hand, if you do not choose student loan consolidation, your future could be in jeopardy! You may not be able to get credit cards, mortgages, car loans, and other forms of credit. It could put added stress on your emotional and physical well-being, the constant worry of how you will possibly pay back those loans. If your student loan debt is out of control, there is hope! Find a lender that will consolidate your loans into one monthly payment, and you'll be on your way to financial freedom!

When is the best time to submit a student loan consolidation? The answer is the six-month grace period of graduation.

At this time the fixed-rate interest uses the in school low interest rate to estimate your payment. You can also do this when you are still making your monthly payments. If you are still in a financial bind, there are situations in which you pay the interest only usually for no more than 36 months. This may give you time to fix your financial picture. Just remember to consolidate during the grace period! Now is the time with the lowest interest rates in years. You could save hundred of dollars a year with a student loan consolidation service.

The process for applying for student loan consolidation is easy. You just fill out a form and the rest is up to the lender. The financial institution will work with your other lenders and the consolidated report is submitted to you. Much negotiation and conversations go into deciding aspects like the rate of repayment and other terms. The lower interest rates are provided and all this benefits you in getting a product that will be much more flexible. A student loan consolidation service can reduce your monthly costs by as much as 70%. That is huge when you are trying to balance school, life and your mental well-being! What would you do with a 70% decrease in bills? So stop stressing about your college bills, and find a loan consolidation service today!

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