Student Loan Consolidation

 by: Ken MacKenzie

Why Consolidate Your Student Loans?

It's January of your senior year and time to start thinking

about all those loans you took to help pay for college.

Between Stafford Loans, Perkins Loans and all the rest,

between subsidized and unsubsidized you begin to realize

that a year from now you will have run out of grace period

and have to start paying back all those loans. You're going

to be paying back eight different loans at eight different

interest rates and eight terms. It's time to start thinking

about a student consolidation loan.

A student consolidation loan could be worth it just to

simplify your repayment schedules. But more importantly, if

you can get a loan with a lower interest rate than you are

paying on your school loans, then you can save yourself

some money. If the consolidation loan extends the length of

your student loan payback term, then it may have the added

benefit of lowering the monthly payment now (when you

aren't making a large salary). You can always increase your

payments as your salary grows.

How to Consolidate Your Student Loans

After deciding to consolidate your student loans, the next

step is to figure out how to go about it. You may have

several choices of lenders, and what you choose could affect

the amount you ultimately pay. Choose carefully.

The Department of Education provides the Federal Direct

Consolidation Loans Program. Numerous states have student

consolidation loans, some for your federal loans and others

for your state loans. Then there are private lenders offering

consolidation loans as well. You might first check with your

current loan providers to see what they have to offer. They

may have a better deal for current customers.

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Student Loan Consolidation
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About The Author Ken MacKenzie is a successful writer and online entrepreneur. He has developed http://www.college-loans.us as a portal for presenting articles, information, resources, news and links about college scholarships, grants and loans. Copyright 2005, Ken MacKenzie http://www.college-loans.us You have permission to publish this article in your web sites, newsletters, ezines or electronic publications, as long as the complete article is used including the resource box, all links (clickable) and copyright information.

Additional Resources

category - Education Grants

Financing Your Education with Federal Supplemental Educational Opportunity Grants
Federal Supplemental Educational Opportunity Grants assist those undergraduate students enrolled in a postsecondary education that cannot afford their educational expenses without financial assistance. The grant is in place to help them meet their educational expenses to the successful completion of a postsecondary degree.

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2012 University Center Economic Development Program Competition
The Economic Development Administration has recently established the 2012 University Center Economic Development Program Competition wherein they intend to solicit grant applications from higher education institutions stating their intent to establish and operate special University Centers that are focused on leveraging university assets in order to create regional economic ecosystems that will support high-growth entrepreneurship.

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American Schools and Hospitals Abroad Program
Much of the international aid provided by the United States government goes to support education and healthcare efforts around the world. Many of these programs are design to encourage the spread of American values to other countries.

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Museum Grants for African American History and Culture Program
The Institute of Museum and Library Services has established a funding opportunity to support the Museum Grants for African American History and Culture Program wherein they intend to provide the African American museum staff with added knowledge and ability in all the areas of management, operations, programming, collections care, and other museum skills.

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