Archive for Consolidation Loan

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ScholarPoint Statement on House Passage of H.R. 5

La Jolla, CA (PRWEB) January 18, 2007

ScholarPoint Financial, Inc., a national online consumer lending company specializing in student loans, is pleased that the House of Representatives is addressing the issue of student loans and their resulting debt. However, the legislation passed today merely puts a band-aid on the problem of college costs by cutting the interest rates on subsidized Stafford student loans over five years.

Chris Studer, Chief Executive Officer of ScholarPoint Financial, Inc. released the following statement today in response to House Passage of H.R. 5, the College Student Relief Act.

ScholarPoint Financial, Inc., a national online consumer lending company specializing in student loans, is pleased that the House of Representatives is addressing the issue of student loans and their resulting debt. However, the legislation passed today merely puts a band-aid on the problem of college costs by cutting the interest rates on subsidized Stafford student loans over five years.

To offset the cost of the interest rate reduction on only one specific student loan, the bill will increase the fees paid by student loan providers. It specifically targets businesses like mine that specialize in consolidation loans. This bill, if enacted into law, would make it more difficult for me to successfully offer low-cost consolidation loans to help student loan borrowers manage their debt.

ScholarPoint shares Congress’s goal of reducing the cost of student loans, but this legislation hurts small businesses like mine, while not addressing the rising cost of college or access for America’s low income students. Consolidation is one of many means today’s college grads have to manage the financial impact that student loans can have on their lives. Taxpayers and society as a whole would benefit more if our tax dollars were used to help increase access for low income students, rather than by penalizing small business owners.

ScholarPoint Financial, Inc. is a national online consumer lending company specializing in student loans and offering a full range of innovative education finance solutions. Loan options for students and their families include PLUS, Stafford, Consolidation and Private loans. ScholarPoint combines industry-leading borrower benefits, best-in-class service and innovative technology. Unlike many other traditional loan sites, ScholarPoint’s technology platform was designed exclusively for its website, integrating the entire process for an online experience that is simple, instant, and complete.

http://www.ScholarPoint.com

Contact:

Joan Coyle 202-289-3903

jcoyle @ wpllc.net

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admin | October 31, 2010
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NextStudent Jumps to No. 15 on Top 100 Consolidating Lenders List


(PRWEB) November 12, 2005

The company moved up the list a total of 46 spots from its No. 61 position in fiscal year 2002. The Top 100 Consolidating Lenders is released yearly by the Department of Education. The list can be found at http://www.fp.ed.gov/PORTALSWebApp/fp/pubs.jsp.

“The company continues to grow, and we hope to do more loan volume next year and to help more students consolidate,” said Don Fenstermaker, chief executive officer at Phoenix-based NextStudent.

The company daily generates more loans due to better customer service, more benefits to borrowers, and new technologies that make the student loan process easier for students.

“It has been amazing to see and be a part of the strides that NextStudent has taken over the last year to get where we are today,” said Jason Benedict, director of sales.

NextStudent started as a scholarship search engine in 1991. In 2001 the company evolved into a one-stop shop for all education finance needs.

About NextStudent

NextStudent is dedicated to helping students and their families find affordable ways to pay for college. NextStudent offers one-on-one education finance counseling and has a portfolio of highly competitive education lending products and services, including a free online scholarship search engine, low and no-cost federal student loans, parent PLUS loans, private student loans, and federal student loan consolidation programs.

The NextStudent Scholarship Search Engine, one of the nations’ oldest and largest scholarship search engines, is updated daily, available free of charge, completely private – and represents more than 800,000 scholarships worth more than .8 billion. For more information about NextStudent’s consolidation loan program, please visit the company’s Web site at http://www.nextstudent.com/consolidation_loans/consolidation_loans.asp.

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admin | October 31, 2010
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Secured Debt Consolidation Loans UK

(PRWEB) September 25, 2004

Secured Debt Consolidation Loans UK

From http://www.adverse-credit-debt-consolidation.co.uk/

Are your near ones asking you to get assistance for secured debt consolidation? But do you actually need it?

Prior to signing the debt consolidation deal, it’s necessary that you are aware of the deal so that no confusions arise in the later stages of the agreement with your lender.

Have a glance at this short extract and see if you should seek a secured debt consolidation loan.

Are you spending more than what you earn?

Is the fear of having an adverse credit haunting you?

Are you finding it difficult to pay your pending bills?

Are you in constant demand among your creditors?

Are you paying many debts at a high rate of interest?

If you are saying ‘YES’ to the above questions in the checklist, you certainly need a debt consolidation loan.

“Unification of the scattered debts into one single debt” is how you will describe a debt consolidation.

In other words, a debt consolidation loan is indeed a piece of good fortune for the people facing adverse credit. It brings a halt to the harassing credit calls and stops the multiple payments that you have been making so far to various debtors.

If you are really serious about an adverse credit debt consolidation loan, donÂ’t go for it just randomly, rather a lot of brainstorming has to be done if you actually need a wise deal. First of all be aware of all the debts you owe, the rates of interest at which these are payable and the balance left. The next step should be to choose a loan amount that you are sure can be paid with your current income. DonÂ’t commit the same mistake (of handling the debts more than what you can pay) again!

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admin | October 31, 2010
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Credit Card Debt Consolidation Loan

Credit Card Debt Consolidation Loan

Credit card debt consolidation is regarded as the first step towards getting rid of credit card debt. Credit card debt consolidation loan is one of the ways of consolidating credit card debt. Besides, credit card debt consolidation loan, you can also go for balance transfer to another credit card. In fact, due to the publicity by credit card suppliers, balance transfers seem to be more talked about than credit card debt consolidation loan.


Some people kind of forget about credit card debt consolidation loan being available as a method of credit card debt consolidation. However, credit card debt consolidation loan too is important to consider when going for credit card debt consolidation.


So what do we mean by credit card debt consolidation loan?


Put simply, credit card debt consolidation loan is a low interest loan that you apply for with a bank or financial institution in order to clear off your high interest credit card debt. So credit card debt consolidation loan too is based on same principle as balance transfers i.e. moving from one or more high interest debts to a low interest one. The credit card debt consolidation loan has to be paid back in monthly instalments and as per the terms and conditions agreed between you and the dispenser of credit card debt consolidation loan.


Credit card debt consolidation loan, in general terms, is an unsecured loan i.e. doesn’t require you to pledge any security. However, if you have a really bad credit history and you want go for credit card debt settlement using credit card debt consolidation loan, the credit card debt consolidation loan will take the form of a secured credit card debt consolidation loan.


This type of credit card debt consolidation loan requires you to pledge a security e.g. the home owned by you or something else that has a value which is comparable to your credit card debt consolidation loan amount. So, worse the credit rating, the more difficult it is to get a credit card debt consolidation loan.


Though balance transfers and credit card debt consolidation loans have the same objective behind them, the credit card debt consolidation loans are sometimes considered better because you end up closing most of your credit card accounts which have been the main culprit in landing you in this difficult situation. However, balance transfers have their own advantages which are not available with credit card debt consolidation loans. Choosing between credit card debt consolidation loan and balance transfer is really a matter of personal choice.

Uchenna Ani-Okoye is an internet marketing advisor and co founder of Free Affiliate Programs

For more information and resource links on credit visit: Freedom Debt Relief


Article from articlesbase.com

consolidationdept.net23.net There are significant differences between the federal and private student loan consolidations. Federal consolidations have fixed interest rates and the private ones usually have variable rates.
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admin | October 31, 2010
One comment

how does student loan consolidation work?

Question by blueyedwoman2006: how does student loan consolidation work?
I am wondering how student loan consolidation works,,, once i consloidate my loans do i get a sum of cash? i know i have gotten offers that say up to $ 2000 now if you consolidate. does that mean i get $ 2000 for myself, or do they take that off the ammount of the loan.

Best answer:

Answer by Luke 6:37
You don’t get $ 2000 off, you probably just save that much in interest by consolidating. You are basically consolidating to get a lower fixed rate on your loan, that’s the benefit.

Know better? Leave your own answer in the comments!

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admin | October 31, 2010
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Student Loan Consolidation is Silver Lining for Class of 2004

Quincy, MA (PRWEB) April 12, 2004

College graduation is just around the corner, along with a nasty surprise for the class of 2004 – higher average student loan balances than ever before. According to the National Student Loan Survey, in 1997, the average undergraduate came away with ,400 in debt; this year, the average undergraduate will leave with an estimated ,900. Graduate student debt has followed the same trajectory, rising from ,000 in 1997 to an estimated ,980, due largely to tuition increases over the past few years.

Most student loans have repayment terms which include a ten year repayment schedule. For the average undergraduate, that’s an estimated 6 per month, about the cost of an economy car payment. Graduate students pay the equivalent of a mid-range BMW with their student loan payments. All of this assumes that the current 31-year low in interest rates will remain the same in the next ten years, an unlikely scenario. Marketvector.com already projects the 91-day T-bill rate (which is used annually to determine student loan rates) to rise by approximately 0.5%, adding an additional ,000 or more to the total interest paid for the average student loan.

The silver lining in what is otherwise a fairly dark cloud is that federal student loan consolidation can help to reduce these payments by extending the loan term and locking in current, low fixed rates. Joe Cronin, director of StudentLoanConsolidator.com, notes, “Federal student loan consolidation helps new graduates be more flexible in the kinds of jobs they look for by not immediately enslaving them to unbearable loan payments. Consolidating with today’s rates (which expire July 1, 2004) will save the average graduating student 44% on their monthly payments. Students with higher loan balances can save even more, up to 58% per month.”

Graduates and students graduating prior to July 1, 2004 are urged to consolidate as soon as they are out of school. Locking in current rates can save thousands of dollars, as long as graduates apply by May 15, 2004. Students can consolidate their loans by visiting http://www.StudentLoanConsolidator.com and applying online, or calling 877-328-1565.

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Contact Joe Cronin at the Edvisors Network at jcronin@StudentLoanConsolidator.com for more information; to apply for a student loan consolidation, graduates should visit http://www.StudentLoanConsolidator.com as soon as possible.

StudentLoanConsolidator.com is a division of the Edvisors Network, a multi-national education services company offering students options for managing the entire education lifecycle, from getting into their college of choice to financing their education and beyond. The Edvisors Network is based in Quincy, Massachusetts, with offices in Quincy and London, England. Visit them on the web at http://www.EdvisorsNetwork.com for more information.



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admin | October 31, 2010
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College Graduates Could Lose Thousands of Dollars in 2004

Quincy, MA (PRWEB) March 6, 2004

College graduates could be looking at a significant increase in the interest rates they pay on federal student loans if they don’t consolidate their student loans before July 2004. The US government sets the rates for all federal student loans based on the 91-day Treasury Bill (T-bill) rate at the end of May of each calendar year. The rates are then fixed for the year, becoming effective July 1, and affect all non-consolidated student loans.

According to market research firm MarketVector.com, the 91-day T-bill rate is projected to rise from a current 30-year low of 0.91% to as much as 1.78% in May 2004. For a student with ,000 in loans, this could result in an overall increase of nearly ,000 in interest over a 25 year repayment term. Additionally, each increase in the federal student loan rate increases the monthly payment on non-consolidated federal student loans such as Stafford and PLUS loans.

Joe Cronin, director of StudentLoanConsolidator.com, notes, “With rates projected to go up by as much as 1%, a student graduating college with ,000 in loans would need to make a salary of at least ,000 a year in order to make repayment of their loan a minimal financial burden. By consolidating before rates go up, that same student extends their repayment term and locks in the current rates, and so would only need to make about ,000 per year to repay their loan and still have money left over for living expenses. That’s a huge difference, and with the economy still struggling, the chances of finding a job right out of college that pays more than ,000 per year aren’t as good as jobs around ,000.”

Mr. Cronin urges graduates and students graduating prior to July 1, 2004 to consolidate as soon as they are out of school. Locking in current rates can save thousands of dollars, as long as graduates apply by May 15, 2004. Students can consolidate their loans by visiting http://www.StudentLoanConsolidator.com and applying online, or calling 877-328-1565.

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Contact Joe Cronin at the Edvisors Network at jcronin@StudentLoanConsolidator.com for more information; to apply for a student loan consolidation, graduates should visit http://www.StudentLoanConsolidator.com as soon as possible.

StudentLoanConsolidator.com is a division of the Edvisors Network, a multi-national education services company offering students options for managing the entire education lifecycle, from getting into their college of choice to financing their education and beyond. The Edvisors Network is based in Quincy, Massachusetts, with offices in Quincy and London, England. Visit them on the web at http://www.EdvisorsNetwork.com for more information.



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admin | October 31, 2010
One comment

Are there any banks or agencies still doing student loan consolidation?

Question by gjb0145: Are there any banks or agencies still doing student loan consolidation?
I’m a recent college graduate, and it seems that all of the banks which used to offer consolidation services are no longer. Do you know of any banks or loan agencies that are still consolidating?

Best answer:

Answer by sjwanderer
All of the banks should be doing that because student loans are protected from bankruptcy. You just need to find a bank with the capital to purchase your loans. Look at midwestern founded banks and some that really specialize in student loans like western union.

Give your answer to this question below!

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admin | October 30, 2010
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Lastest Consolidation Loan News

Zacks Analyst Blog Highlights: American Express Company, Capital One Financial Corporation, Discover Financial …
Zacks.com Analyst Blog features: American Express Company , Capital One Financial Corporation , Discover Financial Services , Visa Inc. and MasterCard Inc. .
Read more on Business Wire via Yahoo! Finance

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admin | October 30, 2010
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Learn How Student Debt Consolidation Loans Can Help You Save

Learn How Student Debt Consolidation Loans Can Help You Save

Higher education is becoming so expensive these days that it’s rare to find a student who doesn’t need some type of financial aid to make it through to graduation. Universities and colleges award grant and scholarships as gifts or rewards to assist students, but many still find it necessary to take out student loans. Unlike scholarships and grants, they need to be repaid upon graduation, and that is when many people consider student debt consolidation loans.

A lot of people graduate with a good degree and land a well-paying job, but still struggle with repaying multiple student loans. They know they’ll be in good financial shape ten years from now, but what about today? They feel saddled with student loan debt and unsure of how to handle the payments, especially in the early years just after graduation. For many of them, consolidation is the answer.

One way to look at consolidation is this: you are handing in your multiple student loans to a consolidation lender. He pays those individual loans off, and then you must repay him. You are, in effect, trading in multiple loans for just one loan.

As long as you are finished with school, you could be eligible for consolidating your student loans. It depends what consolidation company you choose to go with, but they may or may not require you to have a minimum amount of debt before you can be eligible.

By law you may choose any consolidation lender that you want. It does not have to be the same lender that your student loans came from. That may be a good place to start looking just for simplicity’s sake, but you can ultimately choose any company out there to handle your consolidation.

Whatever company you decide to go with, never pay any consolidation fees up front. Consolidating your federal loans is always free. Anyone who is trying to charge you up front for them is not legitimate. Be careful of scams when it comes to debt consolidation, because there are a lot of people out there trying to prey on those desperate to end their financial worries.

You can consolidate as many or as few of your student loans as you like. Some people even consolidate a single loan just for the purpose of lowering the monthly payment. The only rule is that loans can only be consolidated once-in other words, no consolidating a consolidation loan. Some people purposely consolidate all their student loans but one, so that if they ever want to re-consolidate they can throw it in the mix and do so legally. You can also consolidate whenever you like, as long as you are within the ten-year repayment period of your student loans.

Hopefully this article has helped you to understand the basics of student debt consolidation loans and what they are. Many people opt for consolidation every day, and others choose to keep their loans separate. Whatever you choose to do about your student loans, make sure to be educated in your decision.

Fore more on student debt consolidation loans and other options you can use to consolidate your school loans, visit Student Consolidation Loan 101 – A popular website geared to helping you consolidate your student loans and lower your payments.


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