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Shocking Facts about Updating Your PC Operating System
Many everyday Internet Users do not know why they must keep their computer Operating Systems Up-To-Date - and many don't even know what an Operating System is!
From "ignorance is bliss" to "surprise attack and disaster" - how many thousands of...
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Diving Into The Online Dating Pool
Looking to spice up your single life a little?, add some romance?... or maybe find that perfect love connection? Cool! - jump in, the online dating waters are just fine. And by the way, you'll encounter over 3 MILLION others already splashing...
Why Online Dating Services Beat Traditional Personals Every Time
Personal ads are hundreds of years old. There were already personal ads in newspapers at the beginning of 19th century. Now, with the invention of Internet, you can place your personal ad in front of hundreds of thousands of available singles....
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Making Dangerous Dating Assumptions
When men and women are dating, they always seem to make assumptions about what is going on in the other person's mind. They have already decided on what the other person is thinking, what the other person wants, or what they need. Assuming things...
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Consolidating Your Government Student Loans
A Consolidation Loan allows you to combine your federal student loans into a single loan with one monthly payment, which can be significantly lower than the payment required under the standard 10-year repayment option. Under the Federal Family Education Loan (FFEL) Program, banks, secondary markets, credit unions, and other lenders provide the Consolidation Loans. Under the William D. Ford Federal Direct Loan (Direct Loan) Program, the federal government provides the loans.
Most federal education loans are eligible for consolidation, including subsidized and unsubsidized Direct and FFEL Stafford Loans, SLS, Federal Perkins Loans, Federal Nursing Loans, and Health Education Assistance Loans. Private education loans are not eligible. PLUS Loan borrowers (parent borrowers) also can consolidate their loans.
To apply for a Direct Loan Consolidation or an FFEL Consolidation the borrower must contact the lender and complete an application. Most lenders provide borrowers with the ability to apply on-line or request an application over the telephone. Once an application is completed and submitted, the lender will request information from the borrower’s other lenders or from its own system to determine the amounts
outstanding on the borrowers loans. The borrower will then receive notification about the consolidation loan, normal consumer disclosures, the amount owed, and if appropriate, where to make payments.
Always Consider the Cost
You should keep in mind that although consolidation can simplify loan repayment and lower your monthly payment, it also can significantly increase the total cost of repaying your loans. Consolidation offers lower monthly payments by giving borrowers up to 30 years to repay their loans. So, you'll make more payments and pay more in interest. In fact, in some situations consolidation can double your total interest expense. If you don't need monthly payment relief, you should compare the cost of repaying your unconsolidated loans against the cost of repaying a consolidation loan. You also should take into account the impact of losing any borrower benefits offered under non-consolidated repayment plans. Borrower benefits, which may include interest rate discounts, principal rebates, or some loan cancellation benefits can significantly reduce the cost of repaying your loans.
About the Author
For Part II of this article please visit:
http://www.american-lenders.org/goverment_student_loan
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