Student Loan Consolidation Quotes

Bruce Mesnekoff Discussing About Refinancing Student Loan and Consolidation Loan repayment is a major goal for any graduate after college. According to our Expert from Student Loan Help Center, Mr.Bruce Mesnekoff, Every individual dreams of a loan free future and having some financial stability. To achieve this, there are options available to help with loan repayment. In our earlier article we spoke about consolidating student loans. In this article, we will discuss refinancing student loans and its associated advantages. So Bruce Mesnekoff, how consolidation and refinancing are different in terms? These two terms are used interchangeably by most people but there is substantial difference between the two. Understanding the difference is critical to know when can each be used and whether it will solve your purpose or not. Consolidation lets you combine all your student loans into one loan and pay interest at a weighted average. Refinancing is taking a new loan to pay off all your student loans. Refinancing is not available for federal loans but only for private loans.Also only private loan lenders provide the option of refinancing, though a few might provide you with the option of refinancing private and federal loans. Why Refinancing and Bruce Mesnekoff tells us what are the Advantages of it? Refinancing has certain benefits if you get good pay. You will have to pay lesser interest rate. This helps you save monthly and eventually a bigger bank balance down the years. Your credit score is high which will help you gain multiple offers from lenders with lesser interest rate. Offers you variable loan interest which come handy if you took loan when interest rates were too high. You also have the option of decreasing your loan repayment cycle, This will increase monthly repayment amount but you will be loan free in shorter time and will save on even more interest money. Disadvantages There is one major disadvantage that comes when you refinance private and federal loans. The benefits offered by federal loans like public loan forgiveness program or income driven repayment will not be transferred to private lenders. So if you are truly confident of your income then you can do away with such options and completely rely on private loans. So Bruce Mesnekoff , Can you tell us Eligibility Criteria, I think its most important for our students. The eligibility is determined by your financial stability, your credit score, employment history etc. If you have poor credit, you can always have a co-signer to make the process feasible. Refinancing is surely a great way to save money, but whether it best fits you or not is completely your decision. Thoroughly analyze all the pros and cons against your goal and then take the first step. Make the best use of the number of lenders available to provide you with the best solution for your areas of concerns. Good Luck! You can also contact Bruce Mesnekoff an author of The ultimate guide to student loans and CEO of Student Loan Help Center Florida.

Compliance of Student Loan consolidation by The Student Loan Help Center The Student Loan Help Center firmly believes in strict compliance with the Telephone Consumer Protection Act (TCPA). The Student Loan Help Center has a zero tolerance policy in regards to violations of the FCC’s TCPA regulations. The Student Loan Help Center does not include unsolicited advertisements or unsolicited calls. We do make solicited calls prior to obtaining written consent via a website form. Refer to the “Small Entity Compliance Guide” for information. In adopting the written consent requirement, however, the FCC will recognize prior express written consent secured under the methods described in the E-SIGN Act. Permission obtained via an email, website form, text message, telephone keypress, or voice recording, as provided in the E-SIGN Act, will suffice as prior express written consent. The Student Loan Help Center does not include any cell phone text messaging platform, robocalls, autodialers, voiceblasting or any other device that can be considered automated telephone equipment without written consent. The Student Loan Help Center has a clearly written privacy policy, available to anyone upon request. We limit our calls to the period between 8 a.m. and 9 p.m., local time. The Student Loan Help Center assists consumers with federal student loan consolidation preparation and filing services. We are not affiliated with or endorsed by the U. S. Department of Education. Like filing a tax return, you can file a consolidation without professional assistance and without charge at loanconsolidation.ed.gov The Student Loan Help Center has no tolerance with misrepresentations. In our efforts to avoid confusion we have placed disclaimers at the bottom of every page of our websites. The Student Loan Help Center shows a Caller ID on every outbound call (8137393306, 8137508039, 8138038132, 8135751175 & 8133454530). The Student Loan Help Center is a private company. As such The Student Loan Help Center requires a FEE. That fee is disclosed to the client, in writing, before any billing is performed. The Student Loan Help Center has a very specific fee schedule. The Student Loan Help Center keeps the client’s records for a minimum of two years.

Learn about Public Service Loan Forgiveness The PSLF Program (Public Service Loan Forgiveness) encourages people to proceed and continue their participation in public service careers. In this program, eligible individuals are entitled for forgiveness of their remaining balance that is due on their federal student loans. However, they may only qualify if they were able to make 120 payments on these loans, which are under a particular repayment plan. These individuals also have a full-time employment status from public service companies, so they may qualify for the PSLF. Let’s discuss Public Service Loan Forgiveness with The Student Loan Help Center Team. How to Obtain Remaining Balances on Direct Loans If you want to have remaining balances on your direct loans forgiven through the PSLF, you must be able to make 120 monthly payments on direct loans. Furthermore, these payments should be full and made on time. Another important qualification is securing the payment after October 1, 2007. When you make these monthly payments, keep in mind that you should be a full-time employee at any accredited public service company. Important Details about Eligible Loans for Forgiveness As The Student Loan Help Center CEO Bruce Mesnekoff Said Loans that are eligible for the PSLF program are those you have received from a direct loan. On the other hand, Perkins Loans, Federal Family Education Loans (FFEL) and other types of student loans are not valid for PSLF. If you have an existing Perkins loan or FFEL, you have the option to consolidate these into direct consolidation loans, so you may avail of the outstanding benefits offered by the PSLF. Make sure, though, that the payments made on the new loan will be counted toward your payment requirement, which will last for 120 months. Facts about Qualifying Repayment Plans You will be able to maximize your benefits from the PSLF by repaying loans on the IBR (Income Based Repayments) or the ICR (Income Contingent Repayments. These plans enable you to qualify for the PSLF program. The 10-year repayment plan also qualifies you for the PSLF, as well as other plans where the monthly payment you make is equivalent or more than what you are required to pay under the standard 10-year repayment scheme. Before you decide on the best repayment scheme for paying off your direct loans, make sure you are aware of the costs and implications of such decision. When you extend the period in securing your payments for PSLF qualifying payments, you can reduce the remaining balance on your loan when you satisfy all the eligibility requirements for the PSLF program. Moreover, you will have zero balance on loans to be forgiven when you are able to make all 120 monthly payments through the 10 year standard repayment scheme. You can expect a great reduction on your monthly payments under the ICR or IBR plans, as compared to other qualifying repayment options for the PSLF program. Moreover, the repayment term is likely to extend. With a longer period in repaying your loans, you can expect additional interest to accumulate on your loan. Keep in mind, though, that your inability to meet the PSLF requirements will entitle you to pay off the entire loan balance, as well as the accrued interest.

What will happens to Student Loans Plans in 2017? Questions by Reader?? Will Donald J. Donald J. Trump forgive my student loans? While we can’t know for sure, it seems very likely whatever program he implements will have end of term loan forgiveness as a component. His most recent thinking is forgiveness would be after 15 years of payments, let’s see how he will be going to implement new forgiveness plans or amend the old ones. How do I get student loan forgiveness? Make sure your federal loans are enrolled in the direct loan program, if they are not consolidating them into the direct loan program. If they are Stafford loans you may want to see if you qualify for any of the Stafford forgiveness programs. Will Donald J. Trump lower my student loan payment? You likely don’t need to wait for Donald J. Trump to lower your payment; you may be able to lower your payment today. Look at Income Driven Repayment programs and/or private loan consolidations today. Based on his statements so far it is likely he will continue the Income Driven Repayment program that helps borrowers lower their payment to a manageable size. Will Donald J. Trump lower my student loan interest rate? He has definitely not made any definitive statements, but he has said the DOE shouldn’t profit from student loans. One way to make sure they are not profiting would be to lower the interest rate. Stay tuned with Student Loan Consolidation Expert Mr. Bruce Mesnekoff, as things are almost certainly going to get interesting. You can consult with The Student Loan help Center about your Loan consolidation and Student Loan Consolidation Processing.

The Ultimate Guide to Student Loans by Bruce Mesnekoff With the cost of college rising and governmental/private funding declining, it is no wonder that most Americans are concerned about their ability to finance a post-secondary education. Tuition prices are rising at Community Colleges, State Schools, Private and Technical colleges, leaving most Americans wondering how they are going to afford to pay for their education. This book educates parents, grandparents, young adults and students of all ages how to optimize the educational payment process. The Ultimate Guide To Student Loans is the collaboration of two financial experts who guide you through the confusing maze of investing for education and the student loan world from beginning to end. Jordan Goodman, America’s Money Answers Man, personal finance expert and frequent guest on radio and TV shows, and Bruce Mesnekoff, CEO of The Student Loan Help Center, student loan management and consolidation expert, share their knowledge and simplify the complicated process and maze of government and private rules and regulations about student loans. They also guide you through all of your investment choices to finance college education. This book helps you understand student loans by explaining: ways to invest so that you can avoid taking on student loans in the first place the optimum ways to get the best student loans paying off your loans as quickly as possible The book provides extensive information and resources to help you no matter where you are in the student loan financing process. These resources include contact information and descriptions for: federal regulatory organizations educational associations websites loan repayment programs The book also offers an appendix with abbreviations, acronyms and a glossary of student loan related terms. Also you can consult with The Student Loan Help Center for all kind of your consolidation problems. Use this book to improve your entire educational financing experience!

Wage Garnishment Majority of students complete their education with student loan debt. Once you have graduated from college and stepinto the real world, you realize it isn’t as easy as it seemed. Student loan is one of the most difficult loans to repay and it also cannot be discharged into bankruptcy. Thus it has to be repaid!One thing that should always be kept in mind is to never skip your loan payments. If this happens and happens consecutively for months it will open doors to many other problems. It will put your loan in default; your entire loan amount and interest will become due immediately. It will adversely impact your credit score. We discuss Wage Garnishment with The Student Loan Help Center team, let’s see what they said about it. So What is wage garnishment? Wage garnishment happens when your loan is in default (you can consult The Student Loan help center if you want) i.e you have not paid the loan for consecutive 270 days. Now Wage garnishment is one of the legal consequences of going into default. Through this method the government starts deducting 15% of your income. That means you in hand income willreduce with only 85% coming in your bank account. However the amount of wage that can be garnished for private loandiffers from state to state since every state is not allowed to garnish the wages. How to avoid? As discussed before, wage garnishment happens only when your loan is in default. The department of education sends you one letter when you are in default. The best way to avoid this problem is to avoid going to default. There are numerous measures you can adopt right from very beginning to keep your loan repayment on track. For eg, starting to pay interest in your grace period, automating the process of monthly payments to get some discount from bank etc. Now what if you are in default or going in default, then the best option would be to consider forbearance or deferment which will stop your wages from being garnished. How can it be challenged? If you have just received the notice from Department of Education then you are given one opportunity to get a hearing and object to wage garnishment. You can challenge wage garnishment on following grounds: Your income Your employment Procedures followed to start the garnishment etc Also your wage garnishment cannot begin before the notice of 30 days. During this time period you request a hearing garnishment will be put on hold and if 30 days are over garnishment will not stop if you have won the hearing. One of the Best Student Loan consolidation services in USA is The Student Loan Help Center in Florida for all kind of Student Loan consultation you can contact any time.

Forbearance or Deferment: Which Way to Go? Repaying student loan is a long journey as The Student Loan Help Center CEO, Bruce Mesnekoff said, at times you might face some potholes on the road, making your ride a bit difficult but there are some ways you can opt for help. Student loan forbearance and deferment are such two options which help you when you are facing money crunch and need some time to repay your student loans. Both of the options are specific to every individual depending on your financial state. Forbearance or deferment can be considered if you want to postpone your repayment for some duration or want to decrease the amount. Both of these are discussed in detail in this article. Forbearance Forbearance is used when you are facing monetary issues for a short period of time i.e. when you know you will come out of the money problems soon. Forbearance is provided for maximum period of one year at one time.Now there are two kinds of forbearance, mandatory and discretionary. When forbearance is must it’s called mandatory and this happens when: Your student loan repayment is 20% or more of your grossly monthly income. You are eligible for public loan forgiveness You are enrolled in dental internship or medical internship You are serving in a national service position Forbearance may or may not be provided by servicer if you are facing financial crunch or illness. One word of caution here would be to at least pay your interest every month because during forbearance you accruemonthly interest and if you don’t pay it as it gets added to principal. As a result you have to a pay huge amount at the end of the loan and also after forbearance is over to become current. Deferment Deferment also works onsimilar lines as forbearance. Though there is one advantage that subsidized direct loan, Perkins loans, federal Stafford loans do notaccrue interest during deferment, only non-subsidized loans accrue interest. You can defer loan repayment for the entire duration if you are in school or on military duty. If you are unemployed or facing any financial hardship the deferment period is of three years. You can qualify for deferment under following circumstances: If you are in school If you are on active military duty If you are qualifying for Perkins loan cancellation If you are unemployed If you are receiving federal or state assistance. Using deferment or forbearance is good option to keep your account “current” and save it from becoming delinquent or going in default. It saves your credit rating. If provided the opportunity to choose out of the two, always try and go for deferment if you can qualify for it as it’s more economical than forbearance. Contact The Student Loan Help Center to know more about Consolidation of your Student Loans.

Tips to Manage your student loan by The Student Loan Help Center Managing Your Student Loans Apply these responsible financial management principles, as you repay your student loans: Consider the advantages of loan forgiveness programs. These programs are available to students who agree to work in high-need fields like nursing and education. Enrolling in the military often makes you eligible for loan forgiveness. Essentially, you commit to work or serve for a designated period of time, in exchange for complete or partial loan forgiveness. Make student loan payments on time. In some cases, your interest rate may qualify for reduction after you make a certain number of consecutive on-time payments. If you have a cosigner, he or she may also be released from responsibility for the loan, once you have exhibited a required level of consistency with your repayments. Defaulting on your student loans has far-reaching consequences, so it should never be an option. Manage your loan repayment schedule using online calculators. If you are considering a consolidation loan, use these tools to quickly determine your total loan repayment obligation. Take advantage of federal education tax incentives, like the student loan interest deduction and Hope Scholarship Credit. Student Loan Tips: Use student loans to supplement other financial aid awards, like grants and scholarships. Make sure to start a college savings plan as early as possible. College accounts like the 529 savings plans allow you to save pre-tax money for college. Understand the terms of your federal and private student loans, before you sign on. You will be bound to the conditions of your loans for many years. Don’t miss payments. Be proactive in protecting your credit, by contacting your lender before you default. You can consider consolidation loans, deferments and other accommodations of the available options, to keep your repayment schedule on track. For more Questions you can contact The Student Loan Help Center.

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Main Benefits of Federal Student Loans Following are the Benefits of Federal student loan as per our CEO, Bruce Mesnekoff. You can get federal loans without a credit history. You can get federal loans without a co-signer. Federal loans offer lower interest rates than private loans. You can postpone federal loan payments for up to three years. The government pays the interest on deferred subsidized federal loans. You can choose from seven federal student loan repayment plans. Federal loans offer forgiveness opportunities. It takes longer for federal loans to go into default. You can consolidate federal loans without having good credit. Your federal loans will be canceled if you die. Federal Student Loans Are Flexible. With good Records Student can Get Incentives or Waiving of origination fees. No penalties or fees for early repayment. For Any kind of Student Loan consolidation or consulting you can contact The Student Loan Help Center.

What are the benefits of a Consolidation Loan? Direct Consolidation Loans allow borrowers to combine one or more of their Federal education loans into a new loan that offers several advantages. One Lender and One Monthly Payment With only one lender and one monthly bill, it is easier than ever for borrowers to manage their debt. Borrowers have only one lender, the U.S. Department of Education, for all loans included in a Direct Consolidation Loan. Flexible Repayment Options Borrowers can choose from multiple plans to repay their Direct Consolidation Loan, including an Income Contingent Repayment Plan. These plans are designed to be flexible to meet the different and changing needs of borrowers. With a Direct Consolidation Loan, borrowers can switch repayment plans at anytime. No Minimum or Maximum Loan Amounts There is no minimum amount required to qualify for a Direct Consolidation Loan! Varied Deferment Options Borrowers with Direct Consolidation Loans may qualify for renewed deferment benefits. If borrowers have exhausted the deferment options on their current Federal education loans, a Direct Consolidation Loan may renew many of those deferment options. In addition, borrowers may be eligible for additional deferment options if they have an outstanding balance on a FFEL Program loan made before July 1, 1993, when they obtain their first Direct Loan. Reduced Monthly Payments A Direct Consolidation Loan may ease the strain on a borrower’s budget by lowering the borrower’s overall monthly payment. The minimum monthly payment on a Direct Consolidation Loan may be lower than the combined payments charged on a borrower’s Federal education loans. Retention of Subsidy Benefits There are two (2) possible portions to a Direct Consolidation Loan: Subsidized and Unsubsidized. Borrowers retain their subsidy benefits on loans that are consolidated into the subsidized portion of a Direct Consolidation Loan. Temporary In-School Consolidation Authority During a one (1) year period, borrowers who meet certain requirements may consolidate loans that are in an in-school status into a Direct Consolidation Loan. Direct Consolidation Loans may be made under this temporary provision to borrowers whose consolidation applications are received on or after July 1, 2010 and before July 1, 2011. Borrowers will lose the grace period on a FFEL Subsidized/Unsubsidized Stafford Loan or Direct Subsidized/Unsubsidized Loan by consolidating the loan while it is in an in-school status. Similarly, PLUS borrowers who consolidate a Federal PLUS Loan or Direct PLUS Loan that was first disbursed on or after July 1, 2008 will lose the six (6) month post-enrollment deferment period. Parent PLUS borrowers who consolidate a Federal PLUS Loan or Direct PLUS Loan that was first disbursed on or after July 1, 2008 will lose eligibility to defer repayment while the student for whom the loan was obtained is in school. Click here for information on the eligibility requirements for this temporary provision. For more Questions you can contact The Student Loan Help Center.