When Does It Make Sense To Refinance Or Consolidate Your Student Loans?


Student loans can become a nightmare and for most, they are left to repay them for many years. Unfortunately, getting a loan as a student seems a great idea and in all honesty they can be necessary but that doesn’t mean to say you still won’t run into a few issues nonetheless. Thousands actually consider refinancing and consolidation but is this really going to work for you? When is it the right move to tackle a student loan and look into consolidation?

Why Do You Want To Refinance?

First things first, you really need to have a fair understanding or idea as to why you want to look into student loan refinance. Do you honestly struggle to make the monthly repayments or do you just want to save some money? There has to be a reason why you want to refinance and you should be honest about it. If you’re just looking at ways to have a little extra each month, that’s fair enough but remember, with lower monthly payments, you’ll have the loan for longer. Most should remember that consolidation is really there for those who struggle and I do mean struggle, to make the bare minimum monthly payment. Unless you can’t afford a loan payment, it doesn’t make sense to refinance.

You’ll pay more In Interest

Let’s say you truly are struggling to make the monthly payments and have to look into consolidation. There is nothing wrong with that if you’re a genuine case and in honesty, it may be wise if you’re not in a good or stable position financially. If that is the case, it makes perfect sense to look into student loan consolidation and it’s probably advisable too by most loan companies and financial advisors too. However, be warned the longer you stretch the loan out, the more interest there will be. Now that might not seem too bad at the moment but you may have the loan for several more years and end up paying more in interest than anything else. Its one risk associated with consolidation but of course, it may be necessary depending on your situation. Click here!

How Much Do You Earn And How Much Do You Owe?

If you want to know when it makes sense to look into student loan refinance, think about where you are currently in terms of your finances. Do you have a good paying job and are you able to put money aside? If so then it’s not the time to refinance. The whole purpose of the refinance is to make one lower monthly payment and while you may want that, it’s not always for everyone. If you’re someone who earns a lot of money and is able to afford the monthly repayment amounts, forget consolidation. You’ll be able to repay the money back quicker. Of course, if the situation changes then consolidation may be necessary but again, it’s really aimed at those who cannot make the payments.

Student Loan Consolidation Isn’t For Everyone

While consolidation and refinance can seem like a great idea, you have to note it isn’t going to be suitable for everyone. There are some who’re able to afford the repayments and others who truly cannot. It is those who can’t afford the repayments who will find it makes sense to look into consolidation. If your finances are stable then it’s not the time to refinance. Student loans are tricky but you’ll know when it’s time to consolidate your debts.


Your Guide to the Student Loan Repayment Process


Know what your loans and grace period are. At all times the lender, balance, and repayment plan should be on hand and accessible. These things let you know your different options for loan repayment and possible loan forgiveness.

If you go to, all of your federal loans should be shown to you. Note that private loans will not show up on this, so it’s important to keep track of this data on your own. It’s easy to get behind in paying, so being organized will help.

Next, take into consideration which repayment option best suits you. The loans automatically start based on a ten-year plan. This means that after you graduate, there’s a regimented plan to follow. It’s important to be honest with your situation. If this is going to be difficult to keep up with remember there are other options. You may pay increased interest, but spreading out loans over ten years may not work for some. Extensions may be needed. However, usually this causes the interest to spike, so be cautious.

There are also several different methods to go about when deciding which loans to pay first. There are different federal loans and hundreds of private loans out there. If there’s time to choose which loan you want to pay off first, the general rule of thumb is to start early on the loan with the highest interest. These are the loans that will accumulate the most money, so the quicker they’re paid, the quicker they’re gone.

This being said, start paying loans off as soon as you can. If it’s possible to pay a loan before it’s technically due you should. This will save money on interest rates and put you out of debt sooner. Utilizing money while you have it will help. Especially if you’re in college with extra cash. Starting to pay off a loan will help more in the long run than buying the little things like a Starbucks iced coffee every day.

That being said, don’t think you can get away without paying. Putting loans off and refusing to pay at all will result in a monetary disaster. There’s a nine-month leeway, but after those months are up the total loan is due. This causes havoc on your credit score. Then, as if things couldn’t get any worse, your total amount due is increased substantially.

As if this isn’t bad enough, for private loans, generally speaking, it’s worse. For private loans a cosigner is often required, and not only will this put your credit history down the drain, it will also impact the cosigner’s.

If this even has a chance of happening, it’s best to handle it right away.  Talk to the lender and see what can be done. Sometimes accommodations can be made such as deferments. It’s possible to defer the loan for a little bit if you need to get on your own two feet again. For example, if you lost a job there is a way to put a hold on loans until you can be successful with your finances again. Granted, there is no permanent deferment, but temporarily it will work.

Lastly, don’t forget about loan forgiveness. For extreme measures loans may be written off. Again, this is usually only for certain situations, but it is possible.



Different Forms of Student Loan Forgiveness

Usually, when you sign a student loan it’s borrowing thousands of dollars. Those dollars may take a long time to pay off, and a lot can happen between being young and signing a loan to becoming an adult. For better or for worse, there are reasons why your loan may be discharged. Loans are pricey and a lot of debt, so it’s important to remember that there are reasons for debt forgiveness. With federal loans it’s easy to google or search the conditions of getting a loan discharged, but beware of private loans as it’s harder to find the guidelines due to them being not as readily available.

For federal loans there is more debt forgiveness than one might think. Debt forgiveness is the loan being partially or fully discharged. This means that any balance on remaining loan amount is either decreased or goes to zero. It’s not easy, and most people don’t qualify for loan forgiveness, but there are certain circumstances where it may be possible.


The most obvious reason for a discharged loan is death or disability. No one wants their loved one to die, and hopefully nothing terrible will happen, but it’s crucial to note that, just in case, the loan will be discharged. Same with a PLUS Loan. If the parent or student dies there is no longer a reason to repay the loan. To receive a discharge, you would need to either provide the death certificate to the school or lender servicer. To receive a discharge for disability, you must provide documentation of the disability, including a letter from the doctor. From there, after the document goes through careful evaluation, it is determined whether the loan is eligible for a discharge.

Another thing to keep in mind is the Teacher Loan Forgiveness. The federal government will take into considerations teachers that work in low-income schools. If you work there, a maximum amount of $17,500 of your Direct Loan may be written off. In order for this to happen, you must be a teacher for at least five years in the low-income school and be working full time. It will not count if you’re a teacher at a school that is not low-income. In order to be considered for this discharge, all five years must be established in a low-income school.

One more common loan forgiveness is for public service. If you work a job in public service, there is a possibility that the loan will be written off. Once 120 payments on Direct Loans have been made, the rest of the money on the loan can be written off. However, only certain repayment plans allow loan forgiveness, so look into the different payment plans before starting to pay back the loan.

To clarify, public service in this context is a tax exempt not-for-profit organization. This may also include government organizations (including but not limited to local, state and federal). There are more services that fall into subcategories of the government. Labor unions and for-profit organizations are not deemed worthy of obtaining a discharge on student loans.

The best thing to do is ask a loan servicer if your job offers loan forgiveness. If you study and review the conditions of loan forgiveness online and think you may qualify, then continue looking into it. However, even once you submit the loan discharge, its mandatory to continue paying the loan off until the discharge has been approved.




How to Find Help With Finding Scholarships


Scholarships are highly sought after, yet they’re very broad. There are thousands of different scholarships out there, but some of them are rarely even heard of. There’s location based scholarships, merit based, minority based, need based… It’s easy to get overwhelmed in all the different options and categories. It’s hard to find a scholarship if you don’t know where to start looking. Thankfully, there are many websites to assist with finding the perfect scholarship.

The first website is straightforward: It not only finds scholarships that match what you’re looking for, but also schools. This means that if you don’t know what school you’d like to go to, you can view different options. From there it’s possible to narrow down what you’re looking for. Then, in addition, you can see what offers and scholarships best fit you. It’s ideal to find a scholarship on, because it has features that can narrow scholarships down by major, year in school, location and more. All of this increases the chances of you winning a scholarship and being able to afford a cheaper tuition.

The next site that is becoming more popular is FastWeb. It’s completely free and thousands of scholarships are listed on the site. If you google “scholarships”, this would be one of the first sites to pop up. There is a large variety of scholarships on the site. It requires a sign up after the first few clicks, but, as mentioned before, is completely free. It helps find the scholarships you’re looking for, lists the requirements and also offers career planning or advice.

Another site is Unigo. The motto is “Go. Find. You.” This is a great motto, because not only does the site offer college internships and careers, but it also feeds you the best scholarships. This gives you additional opportunities to go find yourself. The site was formerly called ScholarshipExperts, so you may have known it as that. There are an endless amount of scholarships on the site, making it a phenomenal resource and completely free. It is mainly for undergraduate students and is tailored to scholarships benefiting them. It’s another amazing place to find the best deals., formerly known as the app, Scholly, was first seen on TV. The app that is endorsed by Lori Greiner and Daymon John, both lead investors of the show Shark Tank. This app became famous due to the show, but it has a lot of great features. The purpose is to ease the scholarship search as it has a collective database of scholarships. It has designed tools to help you sort through all the different scholarships as well.

One last resource is College Board. College Board is a great final resource. On the site you can narrow down options, plus it has a wide selection. With millions of dollars in scholarships being awarded this is a strong contender in the fight for good scholarship resources. There is even a survey to fill out to help specify which specific awards meet your statistics or qualities. The survey then narrows down which scholarships to show you. It only shows the ones that you are qualified for. This puts you on the right track and avoids you filling out scholarships that you don’t qualify for.

The best website depends on you. Getting a feel for which website best meets your needs will tell you which website is most suited towards you. The deciding factor on which site to use may come down to liking the layout of one site more than the other. There’s an option of using multiple websites in your search – all of the ones listed can be used simultaneously. The important thing is to find one that you like and stick with it. Scholarships will still be hard to come by, but these sites may make it easier.

Be sure to check out scholarships that specifically pertain to you, as well. Many of the scholarships on the websites listed above will be very competitive and would be hard to win. If you find niche scholarships, you may have a better chance at winning. For example, if you wear glasses, try to find some specific scholarships for people with glasses. You will have a much greater chance at winning these and you could save yourself lots of money because you won’t have to take out student loans for this portion of money.



Using Private Student Loans to Pay for Your Education

There are many factors to take into consideration when comparing private loans. Interest rate is the most prominent factor, but also paying attention to things such as cosigner privileges and grace periods is a smart idea.

There are many different private loan options. The biggest include major banks or companies. Two common lenders are Sallie Mae and Wells Fargo, but there are dozens more out there.

To start out, look at interest rates

Private loans generally have higher interest rates, so it’s easy to simply look for the lowest interest rates available. Interest rates are important, but there are other important things to take note of as well. For example, there may be an interest rate reduction if a certain payment method is used. Quite a few lenders will give an interest reduction if there is an automatic debit transaction scheduled. Some may give an interest rate deduction if a certain amount of payments are received. Then again, some might not do this at all, so if this is something that sounds good it’s important to look into it.


Another key note is cosigner privileges

Most students don’t have the credit history to take out a massive school loan by themselves, and need a cosigner that has good credit. This is usually a parent who will have the name of that loan on their shoulders when they cosign. Generally speaking, the better credit a cosigner has, the lower interest rate will be on the loan. Credit history establishes a basis of trust. So, if you have a choice on who to pick as a cosigner, keep the best credit. It will almost always be cheaper in the end.

Some lenders will allow the release of a cosigner after a certain amount of months pass by with good, on time payments. This might be an important factor to know. It also may be a good persuasion point to tell a cosigner when you’re trying to get them to sign for you. Granted, usually it takes a long time to release the responsibility of being a cosigner, but it can eventually happen. The most common length before writing off the cosigner is 48 on time payments, but some lenders will accept as low as 12 on time payments.

Another thing is that some lenders require  at least half-time enrollment

The college schedule and number of credits being taken influences which loan option is going to be ideal. Certain lenders only borrow money out to full-time students, but it’s also common to find less than full-time lenders as well. Usually lenders will be upfront if only full time loans are given out.

The last main characteristic is grace periods

Many lenders understand the pressure of undergraduate studies and the lack of a job at first, which is why many provide grace or deferment periods. This may be a great thing to look into if there’s a high risk of needing a bit of an extension after graduation. It’s common that students don’t have a full-time job secured right after they graduate. They may need more time to find a job and start earning money.

Oftentimes, a loan is not required to be paid while in school. However, upon completion of graduation the money is wanted back. Some people may find it helpful to have that grace period until there is certainty of a job. Then, some people may not need the grace period at all.

It’s important to decide what factors are most important and what doesn’t effect the receiver of the loan. Everyone is different and every loan is different. Private loans are not as black and white as federal loans, so it’s important to understand what you’re signing up for.



Student Loan

How to Refinance My Student Loan

Student loan refinance is something thousands do each and every year. Most people they really don’t understand the process. So, what is the best way to refinance?

Find Out What the Current Lender Can Offer

First and foremost when you want to refinance your student loans you have to ask your current lender what they may be able to offer you. Most lenders are willing to refinance especially if you already have a loan with them so you can always find out what their refinancing options are. You may be best to stick with the lender you already have and that way you don’t have a second lender. It does keep things simple. However, you don’t need to stick to them if you don’t want to.

Fill In an Application and Let the Process Do Its Job
Whenever you find a suitable lender you must start the process. You will need to fill out an application which they will have to process and once the process is over they will either accept your application for refinancing or reject it. Usually the application process takes very little time, probably less than an hour in some circumstances.

However, the lender will look at the loan you wish to refinance and run credit checks; you will need to provide all necessary documents to prove you are who you say you are and of course the documents for the loan. If the application is successful the lender will talk about payment terms and if you agree, your student loan finance can be complete.

Is This Right for You?

Before you look at student loan refinancing, you really need to consider whether or not this is the right move for you. Now, for most, refinancing is a good option and something that isn’t overly complicated. Then again, many others aren’t really ready for this. Sometimes, refinancing can seem to be like such a good option, but unfortunately it isn’t always and that is something you have to remember. Refinancing is a good avenue to explore but only for those which are fully ready for the consequences that come with this.

Get Clarification and Help

Before you look at refinancing your student loans you should talk things over with a financial adviser. Advisers are there to help and despite what you think they don’t work for anyone but themselves. You can easily allow them to look over your current financial situation and find out whether or not it is the right time for you to refinance. They might agree or they might advise you that right not isn’t the best time. It does vary so you are going to have to consider seeking the advice of an advisor. See this page for more addvice

Refinancing student loans can be simple.

Student Loan

Refinancing Can Be Easy

When it comes to refinancing a student loan it can in fact be a very simple process. Of course, the waiting time can be a little bit of a worry because you absolutely want the process to be accepted and started immediately. However if one lender refuses to refinance, you still have other lenders available to you. Student loan refinance doesn’t take too long and can help you greatly.

Refinancing Student Loans

Refinancing Student Loans – What You Should Know Before You Refinance

Millions of students each and every year require student loans to help them through their schooling. While many will repay their loans over the course of their lifetime, some may actually need to refinance. Now refinancing isn’t as bad as most think but there are a lot of factors you have to be aware of before you consider refinancing.

Can You Afford To Refinance?

Student loan refinance is something thousands of students have to look into each and every year and it can be quite challenging.

However, before you refinance you should be fully aware of your financial situation. If you absolutely cannot afford the student loans now then it is more than likely you can’t afford to refinance. You need to think about your current situation so that you know and are actually able to refinance. There are advantages and disadvantages so be aware before refinancing.

You May Require a Co-Signer

Usually younger people often find it hard to establish credit on their own and require some help. Even with student loans it doesn’t always build up enough credit which means when you want to refinance the banks may require someone else as a dependent. Banks don’t want to take a risk on someone with very little credit because if something goes wrong and you don’t repay, they are out the money. That is why some banks may require a co-signer for any refinancing. This usually will need to be someone with good credit. However, remember the co-signer is responsible for the loan if you do not pay back.

What Are The Requirements To Be Eligible For Student Loan Refinance?

While it is easy to assume most people are eligible for refinancing – think again. Sometimes, if the loan amount which you already have is very high then banks may not be willing to take a chance on you.

Not everyone will be eligible for refinancing which is something you have to think about and remember when looking into student loan refinance. In most cases, you will be eligible if you have a steady job with steady and good income as well as little debt and a good credit history. Even if you have some mounting debts, banks will still consider you as long as you have good history of repayments.

Every Bank Offers Different Repayment Terms
Another important factor you have to remember before refinancing is that every bank is different.

There may be some banks who will offer great terms and others who don’t. However, this is something you have to be prepared for because if you don’t like the terms one bank is offering you have to look elsewhere. Then again, if you have a huge amount of student loans that you want to refinance you may not get particular great terms. It does vary from person to person and bank but usually banks are willing to refinance loans as long as they see something in it for them. You just have to be aware that some banks are going to offer you fantastic terms and may want quicker repayment.

Refinancing Student Loans

Be Fully Aware Before Refinancing

Refinancing can be very simple for those who have done this before but for someone who hasn’t, it can be a little complicated. However, if you take the time to know fully what you are getting into then you can make an informed decision about refinancing and your situation. Student loan refinance can be a good idea if you are able to make the repayments.

College Scholarship

Guidelines to Get the Best College Scholarship

There are thousands of different scholarships available to students from around the world and it can be very difficult to find the best. However, you don’t just want to choose a scholarship for the sake of it because if it doesn’t work for you then it isn’t going to be effective. The following are a few guidelines you may want to consider when trying to get the best college scholarship.

Use All Finders and Search Tools

As most will know, the amount of scholarships available has doubled in recent years but that can actually be a good thing. However, when you are looking for the best you have to use all tools available to you otherwise you might not find the very best for you personally. You can always use scholarship finder tools and even the internet to help you find a suitable college scholarship program. You really do need to use these tools so that you avoid the scholarships which aren’t suitable for your needs.

Prepare a Solid Strategy

Firstly, when you are searching for the best you have to set up a good strategy to find the right scholarship program. Secondly, even after you have found a selection of programs you are interested in applying to, you also need to have a good strategy so that you have the best chance of being accepted. Remember that there are thousands of others just like you and you have to be the one that stands out so you get the scholarship. Scholarships vary so you need to ensure your strategy is the one people remember.

Always Put Your Best Foot Forward To Win Scholarships

Whether you are looking obtaining student loans or applying to the program, you always need to ensure you bring your A Game. Anyone can apply but the people who are awarded the scholarship are usually the one who shows their talents, their potential and puts the effort in. If you sit back and hope for the best then you aren’t going to get anywhere. You have to ensure you get the best letters of recommendation and prepare fully for examinations, essays and the interview process also.

Always Understand the Financial Side

While you may be eligible for the best scholarship available to you today, that doesn’t automatically, mean every expense will be covered. There are some scholarship programs that offer students a placement and cover the cost for books and other study materials but that’s all. Some only offer placements or part scholarships which means you still have to pay. You absolutely need to be aware of how the financial arrangement will be made and you may need to look into student loans to cover remaining updated blog post from

College Scholarship

Getting the Best Doesn’t Have To Be Impossible
Scholarships are wonderful little tools for thousands of students to use and they can give many the chance to continue their studies. The best is out there and if you put your mind to it, you can find it and be awarded it also. Scholarships are good tool and you should always consider finding one.


How to Find Scholarships on the Internet

Scholarships can offer thousands of students the ability to continue their studies and they are one of the most widely sought after tools of today. It isn’t difficult to see why scholarships are important because while education is very important, very few actually have the ability to pay for it. However, a scholarship can offer up an entirely new and affordable way for many to study. So, how can you find scholarships online?

Try a Basic Search in Your Area Online

To be honest, most colleges or universities have their own types of scholarships; some will offer only one scholarship per year, while others offer several, it does vary. However, if you are not looking to go far from where you currently live now then you need to look at the local schools in the area. This means going online and doing a very basic search of the local educational area. It isn’t too difficult to do and in fact you can find a lot of information about the various scholarships as well as student loans and other finance options available.

Use Scholarship Finder Tools

Surprisingly there are a lot of finder’s tools online that can direct you to many different scholarships and programs. They can be very useful when it comes to searching for a suitable scholarship but you do need to be careful about which finder’s tools you use. While there are many scholarships available you don’t want to waste time researching what makes someone eligible if they aren’t really suitable for you.view more info here!

Narrow Down the Options

You aren’t going to be eligible for a soccer scholarship if you have never played it, or aren’t good at it or just don’t like it; and wasting time on these scholarship programs is useful. Instead you have to understand what makes you stand out from the others and what is going to potentially get you a scholarship. Do you have glasses or do you have disability that may allow you to apply for certain scholarships? Or are you a math’s genius? It is these things which you have to think about when searching online because it will make it a lot easier to find the right scholarships for you. It will also help if you are using scholarship finder’s tools.

Understand Student Loans and Other Financial Help Available To You

However, most people don’t realize that every scholarship is different so while some offer a full scholarship, others may offer a part scholarship. Part scholarships are really good but they don’t cover all costs which is something you have to be fully aware. If you are going for part scholarships you have to look online and find out about the different financial help available. This will allow you the chance to find out everything you need to.checkout more details at


Finding Scholarships Aren’t Too Difficult

Scholarships aren’t as uncommon as you might think and there are thousands of great educational institutions that offer these. You never know you or your child may be eligible for a scholarship simply because they wear glasses or are good at playing the drums. That is the beauty of scholarships, there are so many available.