Advice on consolidating student loans

The authors of this post work for Gradvocates Editing, a business that edits personal statements, resumes, and other documents for students seeking to get into law school, graduate school, or college.We also edit resumes and cover letters for anyone trying to get a job.The principal amount of the loan will increase if unpaid interest “capitalizes” as more fully described below.Interest is the fee that the lender charges for loaning you the principal. Interest accrues on a daily basis and is calculated in the following manner.

advice on consolidating student loans-26advice on consolidating student loans-53advice on consolidating student loans-54

The assistant is called the Financial Awareness Counseling Tool (FACT), and it consists of a series of tutorials based on information from your own government loans, using that information to create a personalized analysis of your financial situation and offer appropriate advice.

The concept of student loan consolidation is simple: you apply for one large loan which will be used to pay off all your existing student loans.

That single loan will be easier to manage, because you’ll only make one monthly payment, and because it has a longer term than your old loans that payment will be smaller than the sum of your current payments.

I have a good job, but I have more than 0,000 in college loans from different banks coming due in two months. A: First, check to see if you have any federal loans, like Staffords.

I need to consolidate them but have not found a bank willing to do so. Even if they came through a private lender, you can consolidate them through the Federal Direct Consolidation Loan program, which offers different repayment schedules that are meant to help you take control of your debt.