Government Student Loan Consolidation by:Mark Lambie
Are you behind on your bills? Do you have more than one student loan
? If you answered "yes" to either question there are some terrific opportunities for you to lump your debt together with a government student loan consolidation. Please read on for more information.When you graduated from school, more than likely your first job was low paying and your expenses were high. It is not that uncommon for students to rack up bills of 30, 40, or 50 thousand dollars or more in debt, just to the school. Car payments, credit cards bills, and everyday expenses can push your debt levels up through the stratosphere. Time to think of getting some help. Time to consider government student loan consolidation.
What is government student loan consolidation exactly? It is a loan which allows for you to take multiple student loans, pay them off, and make monthly payments to just one lender. Why can this be a good option for you? Well, if you have four loans to four different lenders due at four different times of the month, it can seem as if you are always paying someone back for your schooling. Also, try keeping track of all this with your hectic schedule. Between work, family, friends, and all of life's responsibilities wouldn't it just be easier to have one simple payment to make? Yes, it would.
Another good thing about a government student loan consolidation is that you may be able to lower your interest rate, extend your repayment time, and take out little extra money to pay back other creditors. Maybe you have a credit card payment running you 19% interest. If you got a loan at a rate for half that rate, you would save money, right? Yes, you would.
Where do you go to for a government student loan consolidation? Search the internet! Leading companies are advertising their services to consumers and they are anxious for your business. Shop around and find the consolidation loan that is best for you. Some things to keep in mind:
1. Loan Amount. Will the company pay off all of your student loans, or a portion of what you owe? They may want to see pay stubs and other proofs of income first.
2. Loan Rate. Will loan rate be fixed or will it be variable? You may want to lock in a long term fixed rate to assure that your monthly payments remain stable.
3. Loan Term. Can you deal with paying back a your government student loan consolidation for as long as twenty years? Are there any prepayment penalties? What if you were to default on your loan? What then?
All in all, you have options to pay off your student loans that generations never had before. A government student loan consolidation may be right for you.
About the author
Mark Lambie is the founder of http://www.the-loan-house.com a website that allows consumers to quickly and easily get mortgage information. Selling Your Home - Dealing With Unpleasant Negotiators by:Raynor James Supply Chain Management 101 by:Dan Johnson Building Credit and Stopping Creditors by:Jonathan Cheong How Is Your Intent Aligned With Your Impact by:Sue Edwards The Importance Of A Stop Loss by:Steven Anthonis The Importance of a Stop Loss by:Steven Anthonis What is a Light Bulk Wholesaler by:Troy Breitmeyer Modern Managers Need Leadership Skills by:Mihaela Lica How to Find the Best Low APR Credit Cards by:Morgan Hamilton The Offer's On The Table by:Esther Smith Adsense, Yahoo Publisher, and starting a Home Based Business by:Chuck Crawford Ask the Expert: When do I Refinance My Home? by:Jay Popejoy Affiliate Profits Are Making Millionaires by:Steve Pike