Interest Rising on Student Consolidation Loans (NPR)



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In the absence of any satisfactory method, loanproviders will prefer not to lend. Some lenders placerestrictive conditions on students in order to deter studentsfrom using the facility. Age restriction like upping the age ofstudents who can use student loan debt consolidation is one suchtactic.

Interest Rising on Student Consolidation Loans (NPR)

The government is raising the interest rate on student loan consolidations on July 1, and it may be difficult to tell if such a loan is right for you. Our personal finance contributor weighs in on how to tell if a consolidation loan is a good idea.

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Interest Rising on Student Consolidation Loans (NPR)

Day to Day , June 19, 2007 ยท The government is raising the interest rate on student loan consolidations on July 1. If you are trying to decide whether a consolidation loan is a good idea for you, there is more information about the deadlines and loans, go to http://www.loanconsolidation.ed.gov/.

Read full post here. Copyright (c) 2004 Yahoo! Inc. All rights reserved.

No point rolling many student loans into one if new rate is higher (Boston Globe)

Consolidating your student loans isn't the no-brainer it used to be. Last year at this time, money mavens were exhorting college students and recent graduates to run right out and refinance their loans before the big July 1 rate hike, which took rates on those loans from the neighborhood of 4.7 percent to 6.54 percent. This year, rates are again ...

Read full post here. Copyright (c) 2004 Yahoo! Inc. All rights reserved.

Loan consolidation allows students to combine multipleloans intoa single instrument, one loan from a single lender. In effect,this is like refinancing a mortgage or credit card or other debtconsolidation - multiple debts reduced to one. The balances ofthe multiple loans are paid off by the loan consolidationlender, and voila' - a single loan payment at a more favorableinterest rate. Translation: lower monthly payments, lessoverhead costs for the borrowed money, and more immediate cashflow to spend on more important items today.

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