Student Loan Consolidation offers students the flexibility of one lower payment each month. Your student loans will be refinanced and combined into one new loan. Even if you can make the monthly payments from your original school loans, you may still want to consider consolidating to lower your payments and free up money for bills with higher interest rates. These include credit cards and personal loans, neither of which have tax-deductible interest.
Both federal student loan consolidation and private student loan consolidation offer the benefit of a significantly lower monthly payment and simplified finances. If you want to consolidate student loans, begin with your federal Stafford, Parent PLUS, Perkins, and all Federal FFELP and Federal Direct Loans that were taken out for your education. Private student loan consolidation is a separate program that allows you to refinance all non-federal, education related debt. Check out the links below for additional information on how to consolidate student loans, specifically federal loans, private loans, and frequently asked questions.
Saturday, February 13, 2010
Saturday, July 12, 2008
Personal Loan Options are Available for Consumers with Bad Credit
Personal loans that are designed specifically for bad credit situations provide many benefits for consumers who find themselves within the gap of poor or bad credit. Not only do they provide those consumers the funds they need when traditional lenders have turned them down, but they also help to resolve consumers’ money problems by providing them chance to restore their credit.
Many lenders understand the circumstances that can produce bad credit and are now offering a variety of personal loans that are designed to complement such situations. Consumers who find themselves with bad credit can usually apply for two different kinds of personal loans. Secured personal loans carry a lower interest rate because they are secured with collateral. Unsecured personal loans do not require any type of collateral for approval, although they may carry a slightly higher interest rate.
Regardless of the specific circumstances that resulted in bad credit, consumers can now take advantage of the opportunity to apply for a personal loan without facing rejection because of their credit profile. Through well-designed personal credit loans, consumers can also take advantage of the opportunity to improve their credit.
The most important aspect of applying for a personal loan is to find the right lenders. Consumers can now do this more easily by visiting PersonalCreditServices.com, a website that matches customers with the right lenders and assists them with the process of applying for a loan.
source:http://www.prlog.org/10087382-personal-loan-options-are-available-for-consumers-with-bad-credit.html
Many lenders understand the circumstances that can produce bad credit and are now offering a variety of personal loans that are designed to complement such situations. Consumers who find themselves with bad credit can usually apply for two different kinds of personal loans. Secured personal loans carry a lower interest rate because they are secured with collateral. Unsecured personal loans do not require any type of collateral for approval, although they may carry a slightly higher interest rate.
Regardless of the specific circumstances that resulted in bad credit, consumers can now take advantage of the opportunity to apply for a personal loan without facing rejection because of their credit profile. Through well-designed personal credit loans, consumers can also take advantage of the opportunity to improve their credit.
The most important aspect of applying for a personal loan is to find the right lenders. Consumers can now do this more easily by visiting PersonalCreditServices.com, a website that matches customers with the right lenders and assists them with the process of applying for a loan.
source:http://www.prlog.org/10087382-personal-loan-options-are-available-for-consumers-with-bad-credit.html
Sunday, June 8, 2008
Credit problems might affect some types of student loans
College students and parents are scrambling to line up student loans for the fall amid fears the credit crisis might put the squeeze on such lending.
How bad could it be? That depends on what kind of loan you’re looking for.
Late last month, the Bush administration took a big step toward heading off problems with federally guaranteed student loans made by banks and other private-sector lenders. Using authority recently granted by Congress, the federal government plans to purchase and invest in such loans, freeing capital so lenders can make new loans.
But this initiative — which will last only one school year — isn’t a fix-all for a loan market that is hard to sort out even in the best of economic times. For instance, loans not backed by the government still could be in short supply.
Here is a guide to the different kinds of student loans:
The federal government is the biggest participant in the market, having made or guaranteed $109.4 billion in student loans during the 2007-08 school year. The debt includes Stafford loans for undergraduates, PLUS loans for parents and graduate students, and consolidation loans for graduates who want to combine and refinance previous loans.
Borrowers get these loans through one of two channels.
Under the “direct loan” program — which accounted for about 16 percent of federal student loans this school year — students and families borrow directly from the government, with colleges doing some initial paperwork.
The catch is that your college has to participate in the direct-loan program. About 1,050 schools are active direct-loan schools.
The direct-loan program hasn’t been in jeopardy during the credit crunch.
The concerns have revolved around the government’s other lending channel, the Federal Family Education Loan program, or FFEL, which is used by about 4,500 schools.
Under the FFEL program, banks and other private-sector lenders make loans, and the government guarantees up to 97 percent of their value, so a lender takes on little risk if a borrower defaults. To encourage lenders to take part, the government also pays them a subsidy on each loan.
Those subsidies have been one source of trouble. Last fall, Congress cut them roughly in half in the aftermath of ethics scandals.
While their profits from subsidies were clipped, lenders faced problems on another front. Most FFEL lenders package some or all of their student loans into securities they sell to investors, which generates cash they can use to make more loans.
In normal economic times, those asset-backed securities, or ABSs, seemed like a good investment bet. But in recent years, lenders also have been marketing ABSs containing subprime mortgages made to borrowers with poor credit histories. As that market collapsed, investors began backing away from all kinds of ABSs, including those containing FFEL loans.
SLM Corp., known as Sallie Mae, the nation’s largest student lender, was threatening to pull out of FFEL but opted to remain after the Bush administration unveiled its liquidity plan May 20.
The biggest area of concern for the fall is alternative student loans, which don’t involve the federal government and are strictly between borrowers and lenders.
Though they typically involve higher rates and fewer protections, alternative loans have taken off as lending limits on some federal loan programs have failed to keep up with college costs.
Source:http://www.kansascity.com/business/story/653525.html
How bad could it be? That depends on what kind of loan you’re looking for.
Late last month, the Bush administration took a big step toward heading off problems with federally guaranteed student loans made by banks and other private-sector lenders. Using authority recently granted by Congress, the federal government plans to purchase and invest in such loans, freeing capital so lenders can make new loans.
But this initiative — which will last only one school year — isn’t a fix-all for a loan market that is hard to sort out even in the best of economic times. For instance, loans not backed by the government still could be in short supply.
Here is a guide to the different kinds of student loans:
The federal government is the biggest participant in the market, having made or guaranteed $109.4 billion in student loans during the 2007-08 school year. The debt includes Stafford loans for undergraduates, PLUS loans for parents and graduate students, and consolidation loans for graduates who want to combine and refinance previous loans.
Borrowers get these loans through one of two channels.
Under the “direct loan” program — which accounted for about 16 percent of federal student loans this school year — students and families borrow directly from the government, with colleges doing some initial paperwork.
The catch is that your college has to participate in the direct-loan program. About 1,050 schools are active direct-loan schools.
The direct-loan program hasn’t been in jeopardy during the credit crunch.
The concerns have revolved around the government’s other lending channel, the Federal Family Education Loan program, or FFEL, which is used by about 4,500 schools.
Under the FFEL program, banks and other private-sector lenders make loans, and the government guarantees up to 97 percent of their value, so a lender takes on little risk if a borrower defaults. To encourage lenders to take part, the government also pays them a subsidy on each loan.
Those subsidies have been one source of trouble. Last fall, Congress cut them roughly in half in the aftermath of ethics scandals.
While their profits from subsidies were clipped, lenders faced problems on another front. Most FFEL lenders package some or all of their student loans into securities they sell to investors, which generates cash they can use to make more loans.
In normal economic times, those asset-backed securities, or ABSs, seemed like a good investment bet. But in recent years, lenders also have been marketing ABSs containing subprime mortgages made to borrowers with poor credit histories. As that market collapsed, investors began backing away from all kinds of ABSs, including those containing FFEL loans.
SLM Corp., known as Sallie Mae, the nation’s largest student lender, was threatening to pull out of FFEL but opted to remain after the Bush administration unveiled its liquidity plan May 20.
The biggest area of concern for the fall is alternative student loans, which don’t involve the federal government and are strictly between borrowers and lenders.
Though they typically involve higher rates and fewer protections, alternative loans have taken off as lending limits on some federal loan programs have failed to keep up with college costs.
Source:http://www.kansascity.com/business/story/653525.html
Sunday, April 27, 2008
Student Loan Consolidation
Student Loan Consolidation, also called a Student Consolidation Loan, combines several student or parent loans into one bigger loan from a single lender, which is then used to pay off the balances on the other loans. Consolidation loans are available for most federal loans, including FFELP (Stafford, PLUS and SLS), FISL, Perkins, Health Professional Student Loans, NSL, HEAL, Guaranteed Student Loans and Direct loans. Some lenders offer consolidation loans for private loans as well.
How It Works
Consolidation loans often reduce the size of the monthly payment by extending the term of the loan beyond the 10-year repayment plan that is standard with federal loans. Depending on the loan amount, the term of the loan can be extended from 12 to 30 years. (10 years for less than $7,500; 12 years for $7,500 to $10,000; 15 years for $10,000 to $20,000; 20 years for $20,000 to $40,000; 25 years for $40,000 to $60,000; and 30 years for $60,000 and above.) The reduced monthly payment may make the loan easier to repay for some borrowers. However, by extending the term of a loan the total amount of interest paid is increased.
In certain circumstances (for example, when one or more of the loans was being repaid in less than 10 years because of minimum payment requirements), a consolidation loan may decrease the monthly payment without extending the overall loan term beyond 10 years. In effect, the shorter-term loan is being extended to 10 years. The total amount of interest paid will increase unless you continue to make the same monthly payment as before, in which case the total amount of interest paid will decrease.
The interest rate on consolidation loans is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest 1/8 of a percent and capped at 8.25%.
If a student consolidates their loans before they enter repayment, the interest rate used is the lower in-school interest rate. Thus, although the rounding up of the weighted average can potentially cost the student as much as 0.12%, a student who consolidates before entering repayment can save as much as 0.6%, a substantial net savings. (The in-school interest rate is 1.7% plus the 91-day treasury bill rate from the last auction in May. During repayment, the interest rate is the 91-day T-bill rate plus 2.3%.) This loophole has been confirmed by an excerpt from the Federal Register and direct correspondence with the US Department of Education. Additional details can be found in the interest rate loophole section.
Some graduate students have found it necessary to consolidate their educational loans when applying for a mortgage on a house.
To find out more about Student Loan Consolidation, check with your lender.
Alternatives
Consolidation simplifies the repayment process but does involve a slight increase in the interest rate. Students who are having trouble making their payments should consider some of the alternate repayment terms provided for federal loans. Income contingent payments, for example, are adjusted to compensate for a lower monthly income. Graduated repayment provides lower payments during the first two years after graduation. Extended repayment allows you to extend the term of the loan without consolidation. Although each of these options increases the total amount of interest paid, the increase is less than that caused by consolidation.
Source:http://chinese-school.netfirms.com/business-article-student-loan-consolidation.html
How It Works
Consolidation loans often reduce the size of the monthly payment by extending the term of the loan beyond the 10-year repayment plan that is standard with federal loans. Depending on the loan amount, the term of the loan can be extended from 12 to 30 years. (10 years for less than $7,500; 12 years for $7,500 to $10,000; 15 years for $10,000 to $20,000; 20 years for $20,000 to $40,000; 25 years for $40,000 to $60,000; and 30 years for $60,000 and above.) The reduced monthly payment may make the loan easier to repay for some borrowers. However, by extending the term of a loan the total amount of interest paid is increased.
In certain circumstances (for example, when one or more of the loans was being repaid in less than 10 years because of minimum payment requirements), a consolidation loan may decrease the monthly payment without extending the overall loan term beyond 10 years. In effect, the shorter-term loan is being extended to 10 years. The total amount of interest paid will increase unless you continue to make the same monthly payment as before, in which case the total amount of interest paid will decrease.
The interest rate on consolidation loans is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest 1/8 of a percent and capped at 8.25%.
If a student consolidates their loans before they enter repayment, the interest rate used is the lower in-school interest rate. Thus, although the rounding up of the weighted average can potentially cost the student as much as 0.12%, a student who consolidates before entering repayment can save as much as 0.6%, a substantial net savings. (The in-school interest rate is 1.7% plus the 91-day treasury bill rate from the last auction in May. During repayment, the interest rate is the 91-day T-bill rate plus 2.3%.) This loophole has been confirmed by an excerpt from the Federal Register and direct correspondence with the US Department of Education. Additional details can be found in the interest rate loophole section.
Some graduate students have found it necessary to consolidate their educational loans when applying for a mortgage on a house.
To find out more about Student Loan Consolidation, check with your lender.
Alternatives
Consolidation simplifies the repayment process but does involve a slight increase in the interest rate. Students who are having trouble making their payments should consider some of the alternate repayment terms provided for federal loans. Income contingent payments, for example, are adjusted to compensate for a lower monthly income. Graduated repayment provides lower payments during the first two years after graduation. Extended repayment allows you to extend the term of the loan without consolidation. Although each of these options increases the total amount of interest paid, the increase is less than that caused by consolidation.
Source:http://chinese-school.netfirms.com/business-article-student-loan-consolidation.html
Sunday, March 16, 2008
Sub-prime crisis hit municipal bonds, student loans
The financial hurricane tearing through Wall Street has sparked vast losses at major banks, but it has also exposed a formerly secretive corner of America's financial markets.
Millions of Americans track the Dow Jones Industrial Average and their stock portfolios on a daily basis, but the trillion-dollar trade in mortgage-backed securities, corporate and municipal bonds and other complex securities is mostly hidden and closed to amateur investors.
Mounting losses on mortgage securities have affected other complex debt instruments and deepened a credit crunch that has reverberated around the world.
Banks in New York, London and Zurich are trying to offload their exposure to such securities, but the opaque nature of a market where trades occur between banks rather than on an open exchange appears to have scared off buyers in the current uncertain climate.
"The subprime problem spread to the banks and from the banks it has now spread to the credit markets and it has become a vicious cycle," said John Praveen, the chief investment strategist for Prudential International Investment Advisers, LLC.
The credit squeeze was triggered by a sharp rise in subprime mortgage defaults, or home loans granted to Americans with poor credit, because banks had bundled and resold subprime loans to other parties.
The angst worsened Friday as Bear Stearns, a large US investment bank, said it had obtained an emergency loan from the Federal Reserve Bank of New York through rival bank JPMorgan Chase.
Bear Stearns chief executive Alan Schwartz said the bank's liquidity had "signficantly deteriorated" in just 24 hours as it battled to stem losses linked to mortgage-backed securities.
Cracks first began appearing in the credit markets in mid-2007 when financial firms revealed they were slashing the value of their mortgage portfolios due to the US housing slump.
The resulting losses forced some of America's biggest banks to restrict fresh lending and demand collateral from borrowers as they sought to preserve cash.
Debt became toxic and cash became king as the banks turned off lending spigots that had fueled a boom in corporate mergers and acquisitions.
The liquidity squeeze has deepened in recent months as private-equity firms and hedge funds, which had borrowed heavily, sought to sell investments, but struggled to find purchasers.
An affiliate of the Carlyle Group, a giant US private equity firm, defaulted on almost 17 billion dollars of debt on Thursday and several small hedge funds have collapsed in recent weeks.
US President George W. Bush and the Federal Reserve have backed various measures, including sustained interest rate cuts, to ease the credit crunch, but it shows no sign of abating.
Treasury Secretary Henry Paulson, Fed chairman Ben Bernanke and Securities and Exchange Commission (SEC) chairman Christopher Cox urged banks, credit rating agencies and mortgage firms, to overhaul their practices Thursday.
The financial chiefs endorsed a range of recommendations aimed at boosting business transparency and restoring confidence in America's battered financial markets.
The intensifying credit turmoil is threatening some public works projects and is making it harder for firms to get business loans and for students to obtain loans for university courses.
The director of the SEC's division of trading and markets, Erik Sirri, told Congress last week that the contagion had spread to municipal bond auctions.
"There is no question that the recent dislocations in the municipal bond markets have created unanticipated hardships for municipal issuers and in some cases dramatically increased their borrowing costs," Sirri said.
If US cities and states cannot sell municipal bonds to investors it could threaten plans to build new roads, schools, airports and other public works projects.
The state of Michigan has temporarily suspended a student loan program called MI-LOAN citing "the current and unprecedented capital markets dislocation."
Veteran money managers say the escalating credit crisis is one of the worst they have witnessed in recent decades and could push the economy into a recession.
Praveen said economic growth will likely rebound in the third quarter due to a 168-billion-dollar government economic stimulus package, but he said consumers will need to keep spending to keep the economy on its legs.
source:http://www.lankabusinessonline.com/fullstory.php?newsID=1061095213&no_view=1&SEARCH_TERM=35
Millions of Americans track the Dow Jones Industrial Average and their stock portfolios on a daily basis, but the trillion-dollar trade in mortgage-backed securities, corporate and municipal bonds and other complex securities is mostly hidden and closed to amateur investors.
Mounting losses on mortgage securities have affected other complex debt instruments and deepened a credit crunch that has reverberated around the world.
Banks in New York, London and Zurich are trying to offload their exposure to such securities, but the opaque nature of a market where trades occur between banks rather than on an open exchange appears to have scared off buyers in the current uncertain climate.
"The subprime problem spread to the banks and from the banks it has now spread to the credit markets and it has become a vicious cycle," said John Praveen, the chief investment strategist for Prudential International Investment Advisers, LLC.
The credit squeeze was triggered by a sharp rise in subprime mortgage defaults, or home loans granted to Americans with poor credit, because banks had bundled and resold subprime loans to other parties.
The angst worsened Friday as Bear Stearns, a large US investment bank, said it had obtained an emergency loan from the Federal Reserve Bank of New York through rival bank JPMorgan Chase.
Bear Stearns chief executive Alan Schwartz said the bank's liquidity had "signficantly deteriorated" in just 24 hours as it battled to stem losses linked to mortgage-backed securities.
Cracks first began appearing in the credit markets in mid-2007 when financial firms revealed they were slashing the value of their mortgage portfolios due to the US housing slump.
The resulting losses forced some of America's biggest banks to restrict fresh lending and demand collateral from borrowers as they sought to preserve cash.
Debt became toxic and cash became king as the banks turned off lending spigots that had fueled a boom in corporate mergers and acquisitions.
The liquidity squeeze has deepened in recent months as private-equity firms and hedge funds, which had borrowed heavily, sought to sell investments, but struggled to find purchasers.
An affiliate of the Carlyle Group, a giant US private equity firm, defaulted on almost 17 billion dollars of debt on Thursday and several small hedge funds have collapsed in recent weeks.
US President George W. Bush and the Federal Reserve have backed various measures, including sustained interest rate cuts, to ease the credit crunch, but it shows no sign of abating.
Treasury Secretary Henry Paulson, Fed chairman Ben Bernanke and Securities and Exchange Commission (SEC) chairman Christopher Cox urged banks, credit rating agencies and mortgage firms, to overhaul their practices Thursday.
The financial chiefs endorsed a range of recommendations aimed at boosting business transparency and restoring confidence in America's battered financial markets.
The intensifying credit turmoil is threatening some public works projects and is making it harder for firms to get business loans and for students to obtain loans for university courses.
The director of the SEC's division of trading and markets, Erik Sirri, told Congress last week that the contagion had spread to municipal bond auctions.
"There is no question that the recent dislocations in the municipal bond markets have created unanticipated hardships for municipal issuers and in some cases dramatically increased their borrowing costs," Sirri said.
If US cities and states cannot sell municipal bonds to investors it could threaten plans to build new roads, schools, airports and other public works projects.
The state of Michigan has temporarily suspended a student loan program called MI-LOAN citing "the current and unprecedented capital markets dislocation."
Veteran money managers say the escalating credit crisis is one of the worst they have witnessed in recent decades and could push the economy into a recession.
Praveen said economic growth will likely rebound in the third quarter due to a 168-billion-dollar government economic stimulus package, but he said consumers will need to keep spending to keep the economy on its legs.
source:http://www.lankabusinessonline.com/fullstory.php?newsID=1061095213&no_view=1&SEARCH_TERM=35
Monday, March 10, 2008
Make instant money apply for student loans with no cosigner
When it comes to money matter through loans its not easy to get general student loans. As they need cosigner collateral and will go through bad credit check. But in need of instant money these things are very much frustrating and make things worse. So to cope up with this frustration and depression of students there are many lenders in the market providing student loans without cosigner. Yes these loans does not need any cosigner , collateral and dont go through any credit check.
You just have to go online and apply for private student loans with no cosigner and within hours of your application form you will get the money directly into your checking bank account. Yes companies directly transfer the money into your checking bank account. So you need a checking bank account and a permanent US residency to avail these loans. this is all you need to avail the money in few hours.
The best way to get easy and hassel free money is through these loans. But always take care of the high interest rates and be promt in repaying of the loan amount. These loans are also available for the international students. So you can apply today and get the money required to make your dreams come true. For more informatino visit no cosigner student loans.
source:http://www.losangeleschronicle.com/articles/54406
You just have to go online and apply for private student loans with no cosigner and within hours of your application form you will get the money directly into your checking bank account. Yes companies directly transfer the money into your checking bank account. So you need a checking bank account and a permanent US residency to avail these loans. this is all you need to avail the money in few hours.
The best way to get easy and hassel free money is through these loans. But always take care of the high interest rates and be promt in repaying of the loan amount. These loans are also available for the international students. So you can apply today and get the money required to make your dreams come true. For more informatino visit no cosigner student loans.
source:http://www.losangeleschronicle.com/articles/54406
Sunday, March 2, 2008
New student loan site forces banks to bid for your child’s future
The premiere destination for students and their parents to get the college loan information they need quickly, simply, and effectively. The site takes a different approach than traditional student loan destinations, by matching borrowers with lenders that meet their specific needs.
Participating financiers are required to bid for the business of applicants, ensuring that parents and students alike get the best loan at the most competitive rate.
Borrowers can go to and apply for federal or private student loans. Once the information is submitted, the patented filtering process will deliver up to six viable lenders with requested pricing options. The user then selects which banks they prefer, and the chosen lenders will begin the bidding process.
lso provides an enormous amount of information on student loans, giving families the opportunity to do comparable research. Site creators developed advanced tools to make the most thorough and user-friendly source of student loan information online.
The site offers a full glossary of terms, frequently asked questions, financial aid calendars, and extensive information on specific colleges to help borrowers navigate through the process.
simple design and wealth of information has been created with the parents and students in mind - helping them to make informed decisions when borrowing money for education.
source:http://lifestyle.monstersandcritics.com/news/article_1393475.php/New_student_loan_site_forces_banks_to_bid_for_your_child%92s_future
Thursday, February 14, 2008
Online student loan consolidation
Student loan consolidation refers to wraping all your student loans into a single loan with one lender and one repayment plan. You can plan to consolidate your loan like refinancing a home mortgage. The time you consolidate your loan, the balances of your other current loans are paid off, with the total balance playing over into one consolidated loan.
Here are the top 5 benefits of student loan consolidation:
1. Lower monthly payments
By consolidating all your student loans into one loan, you only need to pay off one loan monthly instead of several student loans monthly. Thus, your monthly payment is lower.
2. Pay only one loan monthly instead of several student loans monthly
It is a lot easier if you have to manage only one student loan instead of several student loans with different payment deadlines. Also, sometimes with many student loans, you may end up forgetting to pay one student loan.
3. Low, fixed interest rate
By consolidating your student loans, you will be able to take advantages of low, fixed interest rates
4. No credit check or processing fees
No credit check is required during the application of a student loan consolidation. The payment plans and terms are usually quite flexible in that they can customize it according to your financial standing.
5. Make monthly student loan payment electronically
While it is not necessary to make payment electronically, using direct debit from your bank account will prevent you from forgetting to make a payment.
Speaking of electronic payments it is possible here at Student Financial Advisors to do an online student loan consolidation. Our online student loan consolidation application is convenient, fully automated and secure. You'll have a choice to sign your application electronically ("e-signature"), or to print out your completed application immediately for your signature.
Source:http://www.transworldnews.com/NewsStory.aspx?id=35852&cat=15
Here are the top 5 benefits of student loan consolidation:
1. Lower monthly payments
By consolidating all your student loans into one loan, you only need to pay off one loan monthly instead of several student loans monthly. Thus, your monthly payment is lower.
2. Pay only one loan monthly instead of several student loans monthly
It is a lot easier if you have to manage only one student loan instead of several student loans with different payment deadlines. Also, sometimes with many student loans, you may end up forgetting to pay one student loan.
3. Low, fixed interest rate
By consolidating your student loans, you will be able to take advantages of low, fixed interest rates
4. No credit check or processing fees
No credit check is required during the application of a student loan consolidation. The payment plans and terms are usually quite flexible in that they can customize it according to your financial standing.
5. Make monthly student loan payment electronically
While it is not necessary to make payment electronically, using direct debit from your bank account will prevent you from forgetting to make a payment.
Speaking of electronic payments it is possible here at Student Financial Advisors to do an online student loan consolidation. Our online student loan consolidation application is convenient, fully automated and secure. You'll have a choice to sign your application electronically ("e-signature"), or to print out your completed application immediately for your signature.
Source:http://www.transworldnews.com/NewsStory.aspx?id=35852&cat=15
Monday, February 11, 2008
An eye for service
Making the decision to join the Army Reserves during wartime with a private optometry practice and a family in Mitchell was not an easy one for Dr. Steve Schlegel.
“He’s been out of the National Guard for awhile, but he wanted to do something more,” said Vicky Schlegel, Steve’s wife of 16 years. “He talked about joining the Reserves before. We knew it was risky, being self-employed, and it would pose some challenges, but it’s been a good decision for him.”
That’s because the decision falls in line with Steve’s respect for the military, and it has afforded him the ability to pay off the student loans he accrued after graduating from optometry school in 1997. It has also offered the Mitchell native a new challenge and the ability to continue his patriotic dream.
“I get to put on my uniform, support my country and they pay for my college and I make a little extra money,” Steve said. “It’s a win-win situation. I am very glad I did it. If I get deployed, it’s a challenge we’ll take on.”
Steve joined the Reserves in July. A 1987 graduate of Mitchell High School, he joined the Army immediately after graduation and served for two years. From 1989 to 1994, he served in the Indiana National Guard.
“I wanted to stay in to retire,” he said. “That was my ultimate goal. But I was trying to raise a family and finish optometry school, and it was taking too much time, so I resigned my commission in 1994.
“I’ve always appreciated the military and anyone who has served or is serving, especially the people who are enlisting now. I have the utmost respect for anyone who serves in any branch.”
But joining the Reserves is not without its dangers. The likelihood of deployment or a call to active duty is inevitable for the eye doctor.
“We’ll have everything in place for if and when that happens, and we know it’s a big challenge for us because I am self-employed,” Steve said. “I’m excited — not excited about being deployed — but when that day comes, and it will, it’ll be a good experience for me, something I can look back on years down the road. I’ll be able to look back on what I’ve done and where I’ve been. It’ll be an exciting challenge when that happens.”
But he also knows the toughest challenge will be for his wife and three daughters, who will be left in Mitchell, whether he’s deployed to a combat zone or called to active duty in the United States.
“You have to give so much credit to the spouses in this situation,” Steve said, “because they are the ones left at home. It’s actually somewhat easy (for the Reservist) when you think about what the spouse is left to take care of. If I am activated or deployed, the separation won’t be new to Vicky and me because almost as soon as we started dating, I left for the Army and there were separations like that while we were married and I was in the National Guard. She’s tough, and will have enough going on with the girls to keep her busy. It’s just going to be the support aspect over it. And we haven’t been separated like this since we’ve had a family.”
But, regardless, his family supports his decision to join the Reserves.
“My family has always been 100 percent supportive of my military career,” Steve said. “The girls (his three daughters Jocelyn, Fiona and Audrey) know what’s going on with the war, but they’re not scared. When I got my uniform, for example, they all had to try it on and mock Dad. I told them to get used to it because they’re all going into the military after high school, and they just make faces at me.”
For now, however, it’s life as usual for the Schlegels.
“The only thing I know for a fact right now is that I’m going to an officers’ basic course in Texas for about five weeks this spring,” Steve said. “And, of course, you have to train for two weeks in the summer. I’ve heard talk that we’re going to close the business and move, and that’s absolutely not true. When I am deployed or called to active duty, then we’ll have a plan in place to take care of our patients and make the transition absolutely seamless for them.”
source:http://www.tmnews.com/stories/2008/02/11/news.nw-743835.tms
“He’s been out of the National Guard for awhile, but he wanted to do something more,” said Vicky Schlegel, Steve’s wife of 16 years. “He talked about joining the Reserves before. We knew it was risky, being self-employed, and it would pose some challenges, but it’s been a good decision for him.”
That’s because the decision falls in line with Steve’s respect for the military, and it has afforded him the ability to pay off the student loans he accrued after graduating from optometry school in 1997. It has also offered the Mitchell native a new challenge and the ability to continue his patriotic dream.
“I get to put on my uniform, support my country and they pay for my college and I make a little extra money,” Steve said. “It’s a win-win situation. I am very glad I did it. If I get deployed, it’s a challenge we’ll take on.”
Steve joined the Reserves in July. A 1987 graduate of Mitchell High School, he joined the Army immediately after graduation and served for two years. From 1989 to 1994, he served in the Indiana National Guard.
“I wanted to stay in to retire,” he said. “That was my ultimate goal. But I was trying to raise a family and finish optometry school, and it was taking too much time, so I resigned my commission in 1994.
“I’ve always appreciated the military and anyone who has served or is serving, especially the people who are enlisting now. I have the utmost respect for anyone who serves in any branch.”
But joining the Reserves is not without its dangers. The likelihood of deployment or a call to active duty is inevitable for the eye doctor.
“We’ll have everything in place for if and when that happens, and we know it’s a big challenge for us because I am self-employed,” Steve said. “I’m excited — not excited about being deployed — but when that day comes, and it will, it’ll be a good experience for me, something I can look back on years down the road. I’ll be able to look back on what I’ve done and where I’ve been. It’ll be an exciting challenge when that happens.”
But he also knows the toughest challenge will be for his wife and three daughters, who will be left in Mitchell, whether he’s deployed to a combat zone or called to active duty in the United States.
“You have to give so much credit to the spouses in this situation,” Steve said, “because they are the ones left at home. It’s actually somewhat easy (for the Reservist) when you think about what the spouse is left to take care of. If I am activated or deployed, the separation won’t be new to Vicky and me because almost as soon as we started dating, I left for the Army and there were separations like that while we were married and I was in the National Guard. She’s tough, and will have enough going on with the girls to keep her busy. It’s just going to be the support aspect over it. And we haven’t been separated like this since we’ve had a family.”
But, regardless, his family supports his decision to join the Reserves.
“My family has always been 100 percent supportive of my military career,” Steve said. “The girls (his three daughters Jocelyn, Fiona and Audrey) know what’s going on with the war, but they’re not scared. When I got my uniform, for example, they all had to try it on and mock Dad. I told them to get used to it because they’re all going into the military after high school, and they just make faces at me.”
For now, however, it’s life as usual for the Schlegels.
“The only thing I know for a fact right now is that I’m going to an officers’ basic course in Texas for about five weeks this spring,” Steve said. “And, of course, you have to train for two weeks in the summer. I’ve heard talk that we’re going to close the business and move, and that’s absolutely not true. When I am deployed or called to active duty, then we’ll have a plan in place to take care of our patients and make the transition absolutely seamless for them.”
source:http://www.tmnews.com/stories/2008/02/11/news.nw-743835.tms
Hope student loans get friendlier
The rising interest rates have slowed down the growth in certain interest-sensitive sectors such as auto, real estate, consumer durables, etc. In fact, in the consumer durables sector the growth has been negative. This slow down has been a worry for the Government. While it may not be possible to reduce the interest rates in the immediate future to prime-up these sectors, the Government could rationalise some of the indirect taxes such as excise, value added tax (VAT), etc. to give some relief to such sectors, especially the consumer durables.
Hence, people looking to buy television set, refrigerator, bike, etc. could possibly wait till the budget. The chances of any increase in rates are anyway quite remote.
Kamal Aggarwal of Ernst & Young says…
The budget would not dramatically alter the Customs and Excise duty landscape in respect of consumer goods.
Loan expert Harsh Roongta says…
The already announced education refinance corporation (funded from the education cess that we pay) should be operationalised. This corporation can share risks with the commercial banks as well as provide refinance at rates that can make educational loans as profitable as any other loan business for the banks.
An official mechanism needs to be in place for grading various education courses (based on their ability to increase employability, earnings potential, etc). With this the banks will be able to objectively assess the risk of providing loans for funding a specific course.
A complete revamp of the education loan sector is vital. Today, education loans are essentially being disbursed mainly by the public sector banks because of administrative fiat and not because it makes commercial sense for the banks.
Many students can’t take an education loan because they have no collateral or their parents don’t have enough income to be a guarantor. While this may not affect students who try for the IITs or the IIMs, a vast majority of students are affected by this lack of access to education loans.
source:http://www.moneycontrol.com/india/news/tax-report/hope-student-loans-get-friendlier/11/00/325484
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