This is the season when every day seems to bring new invitations for graduation of class 2006 in the mail. I began to wonder what it must be like to finally leave school with all that energy and excitement only to discover that they are now going to spend years paying for student loans that seemed such a good idea at the time.

The Center for Economic and Policy Research recently reported that nearly 65% of all students use loans to pay for their education. With many students transferring debts of $ 90,000 or more you start to wonder what it must be like to live under such pressure. How can we manage to pay these loans and still have a life? There are many areas outside of Southern California where you could buy a nice house for that amount of money. (more…)

A student loan debt consolidation loan allows you to combine your federal student loans into a single loan with one monthly payment. The repayments of a student loan debt consolidation loan 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 student loan debt consolidation loan. Under the William D. Ford Federal Direct Loan (Direct Loan) Program, the federal government provides the student loan debt consolidation loan.

Most federal education loans are eligible for inclusion in a student loan debt consolidation loan, including subsidized and unsubsidized Direct and FFEL Stafford Loans, SLS, Federal Perkins Loans, Federal Nursing Loans, (more…)