|
Student loan debt consolidation is able to merge various college loans in a single loan via a new lending company, who is now commissioned to pay off such loans. In effect, all your loan balances disappear, as well as your many payments every month. Now you are given a new responsibility (albeit a much easier one) in a new single loan. We can avail of student loan debt consolidation for much of the government loans around such as the Stafford loans, Perkins, Direct Loans, PLUS loans, just to name a few. It is best that we consult a professional lending company when contemplating on obtaining a student loan consolidation for our multiple loans. Can we opt for student loan debt consolidation with a lender of our choice? Yes, we can consolidate our student loans with the lender of our choice. We are likewise allowed to consolidate our direct loans under any lender. This is to give us the chance to find the lender who can offer us the best loan consolidation program possible, one with really low interest rates and better payment terms. We are likewise allowed to consolidate your direct loans under any lender. Who are allowed to consolidate loans? Basically, both student and their parent can become loan consolidation borrowers. We have to be reminded that only loans of the same borrower can be consolidation, and so it is not possible to combine student loans and parents’ loans into a new loan. Of course it is very possible for each of them to consolidate their loans in a separate manner. Did you know that before, married couples with student loans can consolidate student loan? As their loans are consolidated, each of them is given full responsibility to pay for the consolidated loans. However, because of the possibility of divorce which can cause major problems with the payments, this provision was repealed by Congress in July of 2006, which finally disallowed the student loan debt consolidation of married students’ loans. College Students are allowed to consolidate their loans during their grace period. Students who commit default on their loans can still consolidate such loans provided that they satisfy payment requirements. Students can only consolidate after graduation, unlike before when they can opt for student loan consolidation while they are still enrolled. If you are interested in articles and discussions such college loans and student debt loan consolidation, do visit us at our http:///studentloanrefinancing4u.blogspot.com/ blog.
Related Articles -
student, loan, debt, consolidation, loans, multiple, refinancing, payments,
| 
