Advantages and disadvantages of consolidating student loans

This website will help you determine whether you’re eligible.Private Student Loans are a great way for students to finance their college tuition and cost of attendance.In most cases, there’s no way to avoid paying back those loans.After you determine that you don't qualify to have your loans forgiven, it's worth investigating strategies that can keep interest and payments on student loans to a minimum.Mostly this involves some form of consolidating your loans into one or two monthly payments that are easier to handle and keep on top of. Some people with federal loans are eligible for partial or full loan forgiveness (you don’t have to pay back the money you borrowed).For example, teachers with certain federal loans who spend five years teaching in an underprivileged school may qualify. Other circumstances may qualify you for forgiveness.

Where some people hope to save money on long-term interest, others hope to score a lower monthly payment that they can actually afford – even if that means extending their loan term over several more years.

When a student does not meet the requirements for federally funded student loans, he or she can apply for private student loans.

When students receive a federally funded student loan that does not sufficiently cover the costs of tuition and other expenses, they can use their private student loans to supplement or replace federally guaranteed loans such as Stafford loans, Perkins loans, and PLUS loans.

How to pay for college is as complicated and important a decision as which college to choose, what to major in and whether to live on or off campus.

Because if you don't have (or know where to get) at least ,000 to go to a state college for four years, your college dreams will be shattered before you even set foot on campus for orientation.

Meanwhile, figures from The College Board showed that in 2013 to 2014, colleges continued to hike tuition costs (though somewhat less than in the past).

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