Can you consolidate your school debt

If you’re struggling to pay your school debt, then you’re not alone. Every year, many students sign up for a loan in order to help pay for their college classes, but when it’s time to start making those monthly repayments, their circumstances might have changed. And this is when they need student loan solutions.

Moving across country, getting a lower paid job than expected, falling pregnant or getting married are just some of the challenges that life throws at you at times. And if you add school debt into the mix, then sometimes, you need to find a solution to your problem of finding enough money each month in order to pay back the loan.

So what can you do?

First of all, student loan solutions include finding a decent consolidation program so you can roll all your school loans into one. If you can get a longer term and a better interest rate than what you’re paying now, then you’ll have more money in your pocket every month.

Having more money available in your budget each month means you can pay for food, housing, utilities and entertainment as well as meeting your monthly repayment obligations.

It’s also a good idea to save ten percent of your pay check each month and put it into a savings account. If you can’t manage ten percent, then what about five percent? By doing this, you’re paying yourself first, instead of last!

Then, when you have an unexpected bill come in that you need to pay, you’ll have the money available in your savings account.

As you can see, student loan solutions don’t have to be that hard. As long as you can find a good consolidation program that allows you to be better off than you are now, you’ll find that you’ll be able to get that pesky school debt under control!

Student Loan Consolidation Information

Student loan consolidation has many clear benefits, but before you obligate yourself by signing your name on the dotted line, you should do your research and obtain all the information you can find about the subject. In doing so,you will enable yourself to find the best student loan consolidation information available. The following paragraphs will provide some advice and tips to help you find the best solution available for you.

Know Your Credit Score

If your credit score is good, you should not have any problems getting a great loan rate. If your credit rating is over 660, you will automatically qualify for the best student loan consolidation rates, and you do not have to research any more. But if your credit rating is under 600, you may want to evaluate ways to raise it before seeking loan consolidation. Your credit score is a main factor in determining the type of interest rate you may receive from the lender. If you have good credit, they can believe you will pay back the loan without default. Thus, they will often offer you a lower interest rate. But if your credit is not good, they will give you a higher interest rate to help insure they will receive repayment. If your credit is very poor, you may not even qualify for student loan consolidation.

There are several ways to obtain a copy of your credit report including

· online requests
· written requests
· by requesting in person

Knowing your credit score is the first step in gaining, Knowledge is power. The more knowledge you have on the subject, the better chance you will have at obtaining the best rates from lenders. Knowing your credit score can also help you to rid your credit report of reports that should not be there, as well as aid in the prevention of identity theft.

Obtaining Information From the Internet

With the world wide web gaining in popularity and growing, it is a wonderful tool in helping obtain the best loan interest rates. Educating yourself on the subject has never been easier. By utilizing any search engine, you can generate vast amounts of information with just a few clicks of the mouse. There are many tools available online, to assist you in finding the best interest rates available. These tools include:

· free credit check links
· student loan consolidation calculators
· interest rate estimators

Knowledge is the key in finding the best student loan consolidation rates available. The more knowledge you have on the subject, as well as knowing your credit scores, the better your chances of getting a good interest rate when consolidating your loan.

GET TUDENT LOAN WITHOUT A CONSIGER AND TOUCH THE HEIGHTS

Getting the right educational platform is one of the most important necessities of every human being. It is one of the vital possessions which everyone needs to do. It makes the illiterate person to a gentle man. You learn the moral values of life. Without completing your educational, you can not get the right kind of job. But when you fully complete your higher educations, companies open their doors for you and give you the best suitable job according to your experience and educational capabilities.

It happen the most that a student who is very laborious in his studies can not go for the higher education due to lack of money. It hurts the student. If it will continue then it directly affect to our nation’s future. So for this problem there are student loans using that students can go for higher studies and it is very popular today. For a normal student loan, you have to take one person who have a good credit history and is willing to be your cosigner. In every loan program this rule is common. If you have a cosigner then do not wait for anything and take the loan but what if you do not have anyone as a cosigner. In this situation you need to move from traditional student loans to student loans without cosigner. Student Loans without Cosigner are a loan program which can help you by providing the loan amount even if you do not have a cosigner.

These no cosigner student loans really a good option for those students who are frustrated due to money crisis. The no cosigner student loans are of three types.

Federal Student Aid

This is a loan program which is provided to you by your federal loan provider organization. It gives you the amount which is needed to make your college affordable. These are the state sponsored loans which do not need any cosigner and credit check. So it is good for those students who do not have a good credit history. For this you need to fill the FAFSA (Free Application for Federal Student Aid) and submit it. Then according to the information presented in the submitted form, you get the loan. Some Loan programs in this category are Federal Stafford subsidized Loan, Federal Perkins Loans and Pell Grants. This is the most affordable no cosigner student loans because it is controlled by federal organizations.

Private Student Aid

This is a no cosigner student loan program in which you must have a good credit history to get this loan. You can get it from private banks or credit unions. It is more costly than federal student Aid if you check the Interest rates. It is advisable to first go and try your luck in federal student aid.

Gift Aid

It is like a scholarships or grants which is provided by the college where you are going to get admission. Sometimes state governments also provide this kind of Gift aid to the topper students of their regions. One thing which is best in this is that you do not have to repay the amount. You get this loan amount according to your merit.

Now you know all the options, you can go for any of these ways. So get the student loans without cosigner if you are a needy student and touch the heights in your life.

AVERAGE STUDENT LOAN DEBT

The average student loan debt depends on the institution and the course which the student is studying. The National Post-Secondary Student Aid Study has calculated the following statistics for average student loans for the academic year 2003-2004.
Twenty-one percent of the students attending certificate courses at community colleges had borrowed loans at a median average of $5,307; while 78% of those attending certificate courses at private schools borrowed at a median average of $5,705. These figures show that the number of student borrowers at the private schools was marginally higher than the number at community schools. Among the associate degree students at community colleges, 28% had borrowed a median average of $5,879.
The statistic among bachelor’s degree students was still higher. For the four-year bachelor’s degree course at public colleges, 58% of students borrowed at a median average of $14,671; while at private colleges, 69% borrowed at $17,125.
For the four-year master’s course at public colleges, 48% of the students were borrowers with a median average of $26,119; while at private colleges 73% students were borrowers with a median average of $29,000.
For specialized courses like doctorates and professional courses, the student debt was exceedingly high. 48% of the students undergoing doctorate courses at various institutions borrowed an average of $44,743 last year. 89% of the students opting for four-year professional courses at public colleges borrowed an average of $63,500 and 81% of the professional courses students at private colleges borrowed an average of $71,317.
These figures show that as the academic level goes higher, the average student loan debt also goes higher. The expense of professional courses such as medicine and law are very high and therefore, students also borrow more. Almost all students appearing for professional courses fund their education via some or the other student loan facilities. Another observable factor is that students studying in aided public schools and colleges borrow less and the number of borrowers is also less than at private schools.