You can apply for a government consolidation loan anytime during the grace period or the repayment period (though not while actually in school). However, it may be to your advantage to apply during your grace period. At this time, the lower in-school interest rate would be applied to estimate the weighted average fixed rate which [...]
There’s one important truth when it comes to student loans – there’s no hiding from them. Extreme though it may sound, school loans can’t be discharged through bankruptcy, and if you fail to make your payments the consequences can be quite serious. They can involve poor credit ratings, garnishment of wages, and IRS penalties.
As well [...]
If you left college for family, career or financial reasons before completing your education, you may well want to return in the future to finish getting your qualification, or indeed to study further. However, if you fail to pay on your student loans while out of school, you may find that you’re prevented from receiving [...]
By carrying out a successful loan consolidation, you can not only reduce your total interest paid in the long term, but can also improve your credit score.
A good credit score is very important when you are looking for a job (employers sometimes check your credit and don’t want to see “black marks” there), renting an [...]