How to refinance student loans for better interest rates

Tips on student loans refinancing I like to start by saying that you can only refinance student loans with private lending institutions. If you have federal student loans, government will not refinance the loans for you. Interest rates on federal student loans are usually fixed. Therefore, there is no room for refinancing them. The only option you have is to refinance the loans with private lending institutions. Some private lending institutions will allow you to consolidate both federal and private student loans through refinancing. But if you plan to refinance your federal student loans, it must be done with caution Continue ReadingHow to refinance student loans for better interest rates

Understanding Student Loans Deferment and Forbearance

What is Student Loans Deferment? Student loans deferment or forbearance is the arrangement that allows you to temporarily suspend the repayment of your student loans with or without interest being accrued for a specified period. Student loans deferment and forbearance are applicable to Federal Student Loans. Some people use the terms “student loans deferment” and “student loans forbearance” interchangeably. But unfortunately, the two terms are not the same. While the two arrangements help you to postpone the payments of your student loans for a specified period, student loans deferment may not accrue interest during this period while forbearance will definitely Continue ReadingUnderstanding Student Loans Deferment and Forbearance

Student Loan Consolidation Facts You Need to Know

How to Consolidate Student Loans Are you considering student loan consolidation as a solution to your student debts challenge? You need to first find out whether it will help you achieve your objective. What is student loan consolidation? I will define this with explanation. As you know that it is possible for a student to obtain student loans from different loan servicers before he finally graduates from school. Let’s assumes that you accumulated total debts of $34,000 from eight different loan servicers in order to pay for your tuition fees and other expenses while at college. The implication of this Continue ReadingStudent Loan Consolidation Facts You Need to Know