Deprecated: The PSR-0 `Requests_...` class names in the Requests library are deprecated. Switch to the PSR-4 `WpOrg\Requests\...` class names at your earliest convenience. in /home/coreof/ on line 24

How to Unburden Yourself from Student Loans

It’s not enough as a student earning good grades, graduating, and landing a job with a good salary. What makes it more difficult is the rising costs of education, tuition fees, books, and the cost of living during the years being in school. There is no question that the trends of college and university prices have rose steadily over that last decade. During the 2004-2005 academic year, about $129 billion in financial aid was distributed to undergraduate and graduate students. In addition, these students borrowed almost $14 Billion dollars from non-federal sources to help finance their education according to the report Trends in Student Aid (2005) from the College Board association. With an adjustment to inflation, the total financial aid given to undergraduate and graduate students has increased by almost 100% from 1994 to 2005.

Why have students been borrowing much more today?

There has been a widening gap between the cost of university and college tuition and aid in the form of grants causing students to borrow more. Many students look at taking student loans as a good investment because it allows them to complete their education with better odds of getting a better job and life. Because Students are borrowing more and often taking out multiple student loans today, however, it could lead to financial burdens. This would delay things like buying a new home, car, getting married, and raising a family.

How can student loan consolidation help?

Also known as a federal consolidation loan, repays some or all of the outstanding eligible federal student loans and replaces the multiple payments that are made with one single payment. The payment terms can even be extended to make the payments more affordable. The interest rates are fixed rate for the entire term and are calculated as the weighted average interest rates of your consolidated loans rounded up to 1/8% not exceeding 8.25%.

Which student loans can be consolidated?

1. Federal and Federal Direct Stafford (subsidized and unsubsidized)

2. Federal and Federal Direct PLUS SLS (Supplementary Loans for Students)

3. Federal Perkins

4. Federal Nursing Student Loans (NSL)

5. Federal Health Education Assistance Loan (HEAL)

6. Federal Health Professional Student Loans (HPSL)

7. Health Professions Student Loans (HPSL) Loans for Disadvantaged Students (LDS)

8. Federal Insured Students Loans (FISL)

If a person has bad credit, can they still consolidate their student loans?

Under the federal student loan consolidation program, no credit checks are necessary, however, if any loans are in default, three consecutive payments must be made prior to consolidating the loans.

What lenders consolidate student loans?

The Internet is an excellent resource to compare student loan consolidation lenders rates and offers. It is just a matter to take some time and compare different incentives between lenders.

Lenders may offer added incentives to consolidate student loans. For example, depending on the balance of the current student loans, some lenders may offer a credit or an interest rate reduction if payments were made consecutively on time. Or, if a married couple has individual student loans and want to combine and consolidate their loans.

It should not be a strike against anyone requiring student loans to get through university or college nor having a delayed hardship when a person graduates and gets back into the workforce.

Attention Business Owners: This Is The New BEST Way To Create Websites, Build Funnels And Sell Digital Products Online!

Forget complicated software. Say goodbye to clunky websites. Cancel all your monthly fees.

GrooveFunnels is your complete digital products and services online sales system… And it’s FREE!


Unlimited products and funnels
Brand websites with full navigation
Custom domain names
1-click upsell capabilities
Upsells, downsells and order bumps
The world’s most powerful affiliate program
And so much more…

Sign up for your FREE GrooveFunnels account and get lifetime access (for a limited time only!):

Hope you enjoyed the video!

Now, it’s time to experience the magic for yourself.

Sign up for your FREE LIFETIME ACCESS to GrooveFunnels at

About the author