students loan consultancy

If you are having difficulty making payments at your currently scheduled monthly amount, you may benefit from a graduated or income-sensitive repayment schedule.

In a graduated repayment schedule, payments at the beginning of the schedule are smaller (often covering interest, only) and then increase as time goes on. This is based on the expectation that, like most people, your earnings will increase over time.

In an income-sensitive repayment schedule, your lender or servicer adjusts your payment amount annually based on your current income.

Please note that, with either the graduated or income-sensitive repayment schedule, we may wind up paying a larger amount of interest than through a conventional, or “level” repayment plan.

If you think that either a graduated or income-sensitive repayment schedule is the best option for you, you should contact your servicer. Click here for a list of servicers and contacts.

If you think that a graduated or income-sensitive repayment schedule is not the best option for you, please either check out the other options on this Results page, or click on the Return to Questionnaire button at the bottom of this page, and make another selection.

There are not only a lot of good reasons to stay out of default, but also a lot of good reasons to keep up-to-date in your student loan payments. Here are just some of them:

Solid Credit
Your lender reports on your student loan account to a national credit bureau on every month. If you allow your account to go past due, it could cause a creditor to deny your credit application.

Lower Finance Charges
When you remain past due, you stretch out your repayment schedule. Because Federal Family Education Loan Program (FFELP) lenders charge interest on a daily accrual method, this increases your overall cost of borrowing. When you make payments every 30 days, as opposed to every 40 days, less of your payment goes to interest, more goes to principal, and your loan gets paid off sooner.

Avoid Collection Efforts
When you stay current on your loan, we don’t have to bug you. Neither does your lender, your school, or anyone else who is interested in seeing you get current.

Lender Benefits
Most lenders now offer interest rate discounts to borrowers who make their payments consistently on-time. These may include discounts for arranging to make payments through automatic deductions from your checking account.

It’s The Right Thing To Do
If you’re like most borrowers, your student loan is the first loan you made. Your dependable repayment of the loan allows your lender and your guarantor to make loans to other deserving students. Besides, regular repayment of your loan will help you feel good about the way you manage your credit!

The fees of the institute, tuition fee, expenditure on clothes, books, lodging, and board, educational equipment such as the drawing board, entertainment, shoes, bags etc. go on accumulating until the student completes the program. Once the program finished the student is stressed with repaying the loans. The best way to get rid of the school debts is debt consolidation followed by debt consolidation loans. Debt consolidation loans offered to students are also called school loan consolidation. Some of the lenders offer free debt consolidation. The scarcity of jobs has made School loan consolidation a need.

Types: There are basically two types of School loan consolidation.

• Federal School loan consolidation
• Private School loan consolidation

The Federal student debt consolidation loans is considered the best alternative to get rid of the multiple loans. In case of Federal School, loan consolidation the interest levied on the loan can be deducted from the tax. The Federal School loan consolidation has certain provisions according to which if the candidate offers certain types of series the loan can be forgive. If the candidate continues the studies at school then there are chances of defer payments. The foresaid advantages are not available in private school loan consolidation or any other private debt consolidation company.

Eligibility: Some of the eligibility criteria for federal student debt consolidation Company are as follows.

• The applicant should be not enrolled in any school.
• The applicant should be in the “grace period” of the loan. The applicant should be repaying the current loan.
• The minimum amount of the consolidated loan should be $10,000. While doing the school loan consolidation the applicant should also include unsecured debt consolidation. Credit card debt consolidation is usually the major part of unsecured debt consolidation

Bonus: School loan consolidation has great advantages especially relief from mental stress to pay off the debts accumulated during the duration of the educational program. The other advantages of this debt consolidation program are as follows.

• The duration of paying off the School Loan Consolidation is around 20 to 30 years. This results into drastic reduction in the monthly payments. The monthly payment after School federal Loan Consolidation can even be half or even less in comparison to the monthly payment before School Loan Consolidation
• There is hardly any risk of default
• After student federal consolidation loan, the student has to pay for only one loan rather than service multiple loans.
• Availing School Loan Consolidation improves the credit score.

Almost all U.S. colleges and universities require students to have health insurance before they’re allowed to enroll.

Students who aren’t covered under their parents’ health plan may be able to purchase medical coverage through their school. But both parent and school health plans can be more expensive than student-specific individual health insurance.

Save money over school and parent health plans.

Our affordable student health insurance program offers low-cost, renewable student-specific coverage that allows students to go to any doctor, any hospital, without any costly out-of-state or out-of-network expenses. And students can be covered all year, not just during the semester.

• FAST next-day coverage
• NO network restrictions — even if you’re out of state
• Get health coverage all year long, not just during the semester
• Take your coverage with you when you graduate or transfer
• Get up to $1 million in coverage

t all starts here … with the FAFSA.

The FAFSA, or Free Application for Federal Student Aid, is the jumping off point for all federal financial aid. In other words, you must submit a FAFSA to be considered for grants, work-study, and federal student loans, including Federal Stafford and Federal Parent PLUS Loans.

The FAFSA examines your family’s financial situation and evaluates your eligibility for student financial aid based on U.S. Department of Education guidelines. They’ll consider a number of factors—including parent and student income, net assets, number of family members in the household, and family expenses.

Just about every family is eligible for some financial aid—even those that think they earn too much or don’t know enough about their options. And some sources of aid, such as unsubsidized Stafford and PLUS loans, are available regardless of need. But if you want to be considered for financial aid, you must complete the FAFSA.

To increase your chances of receiving financial aid, submit your FAFSA as soon after January 1 as possible. Funds for need-based financial aid are limited, and most awards are offered on a first-come, first-served basis. Your filing dates holds your place in the federal queue, so the sooner you file, the greater your chances of getting financial aid.

Don’t forget—you must complete the FAFSA each year to be eligible for financial aid for the new academic year.

To complete a FAFSA, use FAFSA on the Web at www.FAFSA.ed.gov or submit a FAFSA through your high school or college Financial Aid Office. See our Tips on Completing the FAFSA to help you ace the application process.

The application generally process takes about two to six weeks. Use this time to start

• Submit the FAFSA as soon as possible after January 1. Be sure to list the schools you are considering (up to six) on the application. Estimate the required tax information if you have not yet filed. And don’t forget to check out our Tips on Completing the FAFSA.
• Submit state financial aid applications, if required. Check with your school’s Financial Aid Office for deadlines.
• Use the NextStudent Scholarship Search Engine to find free aid opportunities.
• Approximately two weeks after submitting your FAFSA, you should receive notice that the application was received.

February

• Approximately two weeks after submitting your FAFSA, you should receive notice that the application was received.
• If you submitted your FAFSA early in January, you might receive your Student Aid Report (SAR) in February—it usually takes four to eight weeks.
• Submit a state financial aid application, if required.
• Check with the schools to which you’ve applied and complete any financial forms they require.

March

• If you submitted your FAFSA early in January or early February, you might receive your Student Aid Report in March—it usually takes four to eight weeks. If you haven’t received your Student Aid Report (SAR) yet (assuming it’s been at least four weeks since you submitted it), contact the federal processor at 1-319-337-5665.
• Review your SAR carefully; make any necessary corrections directly on Part 2 of the SAR and return it to the address provided, or submit changes to the FAFSA online via FAFSA Corrections on the Web.

April

• College acceptance letters usually arrive before May 1.
• Look for an Award Letter from each of the schools to which you’ve been accepted. This letter lists the types and amounts of financial aid you’ll receive for the upcoming academic year.

May

• Choose the school you wish to attend and let them know. Notify the schools you didn’t select so they can award your financial aid package to other eligible students.
• Complete student loan applications, including Federal Stafford Loans, Federal PLUS Loans for Parents. If you still need money for college, apply online for a NextStudent Private Loan.
• If you haven’t already done so, you can submit your FAFSA online.

June

• If you haven’t already done so, submit your FAFSA online at www.fafsa.ed.gov.
• Complete student loan applications, including Federal Stafford Loans, Federal PLUS Loans for Parents. If you still need money for college, apply online for a NextStudent Private Loan.

July

• Notify your school about any changes in your financial situation, including any outside scholarships or grants you’ve received.
• It’s still not too late to complete student loan applications, including Federal Stafford Loans, Federal PLUS Loans for Parents. If you still need money for college, apply online for a NextStudent Private Loan.
• High school seniors—now is the time to request brochures and information from the schools you’re interested in attending.

August

• If you’ve been awarded work-study, contact your school’s Financial Aid Office to complete any school-required paperwork and review current openings.
• Apply for scholarships using the NextStudent Scholarship Search Engine.
• High School Seniors -- Prepare for and take entrance exams such as the ACT and SAT. Register online for fall SATs.
• High School Seniors -- Attend college open houses and schedule admissions interviews at the schools you’re interested in attending. It’s a good idea to meet the school’s financial aid office, too, to get the school-specific paperwork and information you’ll need to apply for financial aid.

September

• High School Seniors -- Decide which teachers, friends, coaches, employers and mentors you’ll ask to write your letters of recommendation for you.

October

• Continue to look for scholarships and grants.
• High School Seniors — Apply for early decision, if applicable.

November

• Go over the FAFSA form and put together the paperwork you’ll need. For help, see Tips on Completing the FAFSA.
• High School Seniors -- Collect letters of recommendation in preparation for submitting college admissions applications.

December

• Happy Holidays! Warm up by filling out the FAFSA Pre-Application Worksheet in anticipation of a January submission.
• High School Seniors — Now is the time to submit applications for admission to the colleges of your choice.

From helping you build your credit to giving you a fallback for financial emergencies, college student credit cards can be a valuable resource when you’re away at school and on your own.

Whether your car suddenly breaks down on your way to class and needs emergency repairs or you’re looking for grocery money to tide you over until you get your student loan check, a student credit card could be the back-up you need to keep you from ending up financially stranded.

Of course, you want to be smart about how you use those college credit cards. The last thing you want to do, especially when you have tuition and college bills to worry about, is rack up tons of credit card debt that you can’t pay off. But as long as you manage your credit card use wisely and responsibly, college credit cards and prepaid credit cards can be a good way for you to start building a solid credit history.