Non-Credit Based Education Loans Helpful Hint

If your major interest is information related to Non-Credit Based Student Loans or any other such as Student Loan Forgiveness For Teachers, Re consolidates Student Loans, Unclaimed Scholarships, Bank Private Student Loans, Student Loan Direct Deposit or Private Student Loans Interest Rates, this article can prove useful.

So, how can you tell if you are going to need to get a student loan? One reason you might is if the college of your choice is a very expensive one, not that any college is cheap; however, some are more expensive. Costs of tuition and books each quarter can really begin to add up on you. If you cannot qualify for a federal grant, such as the Pell grant, you would need to find another method of paying for college.

Sometimes the school you attend may recommend the right debt consolidation companies for you to approach for your student debt consolidation loan. However, you can have your federal school loan consolidated only if you have stopped attending school, have not missed any payments and your loan is of a sum of at least $10,000. If your federal school loan does not meet one of these requirements, then you can't opt for student loan debt consolidation.

Your financial information on your form needs to match what you file with your tax return and sometimes your school's financial aid office will need a signed copy of your tax return as well if anything is questionable, so be sure to make a copy after you sign it. One thing you don't want to do on the form is providing inaccurate information. This could prevent you from getting any aid at all in the present and in the future.

INTERVAL -- Did you notice so far that this article is indeed related to Non-Credit Based Student Loans? If not, go ahead and read on. You will find more information that can help you as regards Non-Credit Based Student Loans or other related Government Programs, Stafford Direct Student Loans, Student Loan Consolidator, Private Student Loans With No Cosigner, Federal Defaulted Student Loans and Ns Student Loan.

Furthermore, each and every day the Internet has become safer and more secure. As long as you are on a secure website, you should have no fears of your personal information being intercepted. It is important to understand what makes up a secure website and how to determine if it is secure.

Being a student, chances are that you don't have an asset you can use as collateral. You may have a car, but probably you won't like to risk repossession. Unsecured loans are then your only choice, secured loans are out of your reach. Nevertheless, the interest rate charged for unsecured loans is not that higher than secured loans and the amount you required can be easily covered by unsecured loans.

Many people forget that they can get more information about any subject matter, be it Non-Credit Based Student Loans information or any other on any of the major search engines like Google.com. If you need more information about Non-Credit Based Student Loans, head on to Google.com and be more informed.

In order to make it easier for to help repaying student loans after graduating from college, the first step you seriously consider refinancing student loans and to consolidate your student loans into a single loan account. Through this, you will be able to avoid paying a lot of excessive money from all your various loans different interest rates. Having one single loan to deal with will also allow you to better manage your money and your loans.

It might interest you to know that lots of folks searching for Non-Credit Based Student Loans also got information related to other Federal Student Loan Solutions, Federal Student Loan Department, and even Government FASFA here with ease.

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Improve Your Chances of Getting a Student Loan

Now that most of this year's pomp and circumstance, cap-tossing, and graduation parties are in the memory banks, the actuality of paying for college or graduate college is setting in. According to FinAid, two thirds of college kids borrow to pay for faculty - with a standard loan debt of nearly $20,000. Ten p.c of parents borrow for their students' education, borrowing a median of $16,218. And those figures account only for undergraduate education. Graduate degrees can pack on a further $27,000 to $114,000 in student debt.

Most US people with student loan debt most likely saw the flood of news items over the past few weeks inspiring borrowers to consolidate their student loans by the cutoff date - June 30 - before the annual interest-rate increase on July 1. On that date, thanks to the rising IR environment in the united states, rates on Fed student loan debt increased by an important 1.84 %. Now that student loan rates are now not at the three p.c rates they hit during the economy's slowest days, it pays even more to be savvy about borrowing for school or returning to college.

And this year, borrowers also could notice the effects of two new rules that took effect July 1, making it all the more important to pay attention to smart financing options for student loans.

IRs on new Stafford Loans may not be variable, but will be locked at 6.8 p.c.

Formerly, if borrowers had multiple loans with one lender, they could only consolidate with the same lender, but as of mid-June, they can consolidate with any one bank.

If you missed the June 30 consolidation deadline, it is too late for this year. But for those that did - or who are taking a look at borrowing for varsity or graduate faculty via new student loans starting this year or later - these steps will help ensure you find your best financing mechanism for student loans.

Try again next year. If you have older student loans that you haven't consolidated, jot down a note on your calendar to check rates before next year's June 30 consolidation deadline. The maximum rate allowed for federal Stafford loans is 8.25 percent. For 2006-2007, the rate will be 7.14 p.c for those in repayment, or 6.84 p.c for those with in-school deferment. It is possible that rates still will not have hit the maximum by next June 30, and you then might be in a position to lock in lower rates.

Compare rates. Whether you are looking at new loans or old ones, check to make certain you are getting the hottest deal.

Check your options. A few career fields - like teaching and emergency services in high-need areas - are fit for loan forgiveness or debt reduction of student loans obtained to enter that field. Check with your faculty, professional organization or lender to determine if you are fit for any of these programs.

Get aid if you can't pay. If you are unable to make payments on your bad credit loans, contact a debt resolution professional or get other reputable assistance. Student loan debt generally is not eliminated by declaring bankruptcy, but you may be able to work out a repayment schedule with your lender if you do not have the earnings to pay the debt according to the original schedule. Student loans represent a significant finance commitment, and avoiding repayment has major repercussions.

Student loan debt is one of the few'healthy' types of debt, as it helps individuals better themselves, further their careers and society, and generate larger long term earnings. With a little bit of research, you can make the most of your student loans and your education - and even raise your money knowledge on the way. And in borrowing, as in education, there's always next year to boost your situation.

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Facts About Student Loan Rates

Many people who want to pursue their education further will not afford college expenses and will need a student loan. And finding the best student loan rate of interest is an important factor that needs to be taken into consideration when searching for a student loan.

Usually a student loan won’t have to be repaid until the student graduates and has finished his or her schooling. This will allow the student to concentrate on studying and not be concerned about any kind of repayment plan.

After the graduate finishes his or her studies, the student loan rates will be an important factor since the graduate will be starting a new job, possibly finding new accommodation, and have travel and living costs to cover as well. Every cent will count in the beginning and even a difference of one percent in the repayment plan will have an effect on one’s living standards.

Some lending institutions charge fees to set up a student loan, and this is one factor that can increase the cost of the loan. Often a lender will offer a low interest rate that seems very competitive, but these low rates are often offset or can actually cost more due to the fees that are charged. On the other hand lenders that don't charge the fees will roll over the costs into the student loan interest rate. As a general rule of thumb, three to four percent in fees is about the same as a one percent higher interest rate.

Be sure to check to see if the student loan interest rate is fixed or variable, because a fixed loan may be more expensive than a variable rate at the time of application but if the variable rates are to rise in the future then the fixed loan would have been the best option.

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College Loan Consolidation For Students

For most students who incurred various debts and loans opted for a college loan consolidation. For the most students the benefits and advantages out weights the pitfalls. Thus understanding the basics of college loan consolidation gives more options.

Few families and high-school students can afford to pay for a traditional college education without some financial aid, either in the availability of loans or scholarships. Many students who have student loans and are getting stress out with their financial management choose to take a college loan consolidation.

Students currently enrolled in high school that are looking towards the future and college, may not have the costs of their schooling in mind when considering where to apply. Student loan consolidation basically lowers the monthly payment for all the student loans taken earlier.
You can always engage remission if you make a college loan consolidation or a school loan consolidation for all your student loans. Federal Student Loans set up several benefits over private loans. Applying for financial aid or student loan consolidation can seen overwhelming, but it is really quite steady.
Stafford Loans are low interest rate loans borrowed in the students own name. There is no credit report review. Co-signers are not required. The funds for Stafford Loans are provided by private lenders and are subsidized and guaranteed by the Federal government. Generally, federal consolidation loans are easier to put than their private consolidation loan counterparts.
The Direct Federal Loan Consolidation program offers a special income-contingent option to students who permit borrowed at a heavy level. One of the advantages to a consolidation loan is that the new interest rate is a weighted average of the interest rates of the combined loans rounded to the nearest 1/8 of a percent. Even if you put already consolidated loans before, we can refinance lone loan from solitary institution. Stafford loans, PLUS loans, private loans, they are all eligible for consolidation.
Varying scholarships put varying requirements If you are going to settle upon a college loan consolidation or a school loan consolidation get hold of sure to look for the lowest rate of interest so that will not hurt you in the long run. Scholarships are provided by colleges and universities to their prospective students, as well as by private organizations, churches, insurance and mutual companies, and public service organizations. All scholarships carry fostering deadlines and minimum requirements. It is also always a good idea to find your high school counselor to check into local scholarships.
Most scholarships are based on academic merit, athletic skills, religious affiliations, gender, or ethnicity. Many students interested in obtaining assistance with future college costs, apply for specific scholarships.
The Federal Stafford Loans, available to both undergraduate and graduate students, are one of the top-notch affordable ways to pay for school. No credit check is required during the wizardry and there are no fees (in fact, the government prohibits lenders from charging fees) and no exercises verifications The improvement consists of a short federal form listing your contact answer and detailing the loans you owe, who currently holds them and what the balances and interest rates are. Anyone with qualifying federal student loans or federal parent loans is eligible for student loan consolidation.
You can apply as soon as you finish school or after your loans go into a grace or repayment period.Be aware that your current lender may view you as a captive customer and as a result may not be as motivated to offer you additional incentives to consolidate.
In order to permit a better handle on your debt burden, accept a school loan consolidation or college loan consolidation. Given the government sympathize with and subsidy, consolidation loans are very profitable for private lenders.
Being well armed with the knowledge and understanding of college loan consolidation may give you the advantage of negotiating a better deal. College loan consolidation is available to almost any student but you to apply and qualify for it.

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College Student Loans Free Related Guideline

It's difficult to provide accurate Bad Credit Student Loans information, but we have gtwo through the rigor of putting together as much Bad Credit Student Loans related information as possible. Even if you are searching for other information somehow related to federal student loans application, nslds student loans, fed direct student loans or federal student loan cancellation this article should help a great deal.

As you go searching for private student financing for bad credit you should discuss matter to your financial aid department to make sure if you qualify for federal student financing and the Pell grant. These are backed by authorities and have unquestionably no credit requirement. The pell grant is more and more free money you never have to return. If you already searched out these avenues and cannot get anymore than you can look for private student loans for bad credit.

Student's loan consolidation is a process in which a student combines all of their student loans together and then makes them into one loan. Generally, the bank pays off the loans of other banks and gives the student a new loan with single payment.

You can work out with your student loan company to find out ways in order to pay your loan back. You have to find out the right person in the company to do this job. Most of the time lower-level employees are not authorized to make the arrangements that you are looking for in order to repay your loan.

If this article still doesn't answer your specific Bad Credit Student Loans quest, then don't forget that you can conduct more search on any of the major search engines like Search.Yahoo dot com to get specific Bad Credit Student Loans information.

The best source of loan funding for the students who have poor credit is the federal government. The government runs several loan programs to grant funding to the students for their needs. These types of programs are the Stafford loans, Perkins loan program and the Pell grant.

You can also perform some type of volunteer work in order to reduce your student loan debt. There are many organizations you can join for volunteer work in the field of medical or legal services.

On account of loan rate differences, it can amount to thousands of bucks in savings, a multitude of consumer thinks about consolidating their student loans do grim researching and even do a spreadsheet analysis comparing the pros and cons of every proposal before choosing the option that is better for them. Luckily, the Internet makes it truly easy to get the facts you need to make these kinds of comparisons.

Many people that searched for Bad Credit Student Loans also searched online for pay off private student loans, how to consolidate private student loans, and even government student loan administration center.

by Deeapk Kulkarni

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Student Loan Consolidation

Tired from paying interest on student loans every month, afraid of the deadline of paying back loans, there is a solution of your tensions, student loan Consolidation. In student loan consolidation, a student may enjoy many benefits; some of them are following below.

1. lower monthly payments
2. only one monthly payment rather than paying separately
3. Student loan consolidation rates are very low, fixed interest rate cannot exceed 8.25% at any time, coupled with national interest rates at a 40-year low.
4. For the application of student loan consolidation, you don't have to offer any credit card check or processing fees.
5. the terms and payment plans of student loan consolidation are very flexible, the provider can mode them according to your financial needs
6. While you don't need to consolidate in order to take advantage of this one, you can knock an additional .25% off your rate by making your monthly payment electronically. This electronic debit option does more than save you money - it decreases your chances of forgetting a payment.
7. The option to prepay your loan at any time without incurring a penalty Sometimes a student got confused about the qualification of applying for student loan consolidation. But now government clears that students who are still in their grace period or cannot re pay their owe money on a student loans can qualify to get student loan consolidation or those who are still in school may consolidate their government-guaranteed loans

Today in the market, there are many companies offering student loans to the college students, but when it comes to their interest rates, they are charging very high. A student has to pay interest on their loans, every month, which is quite impossible for some due to lack of money and time. When it comes time to pay back their student loans, it can be a real burden and a distraction from their career. For those, student loan consolidation is a best deal and step to follow. In this, you don't even get low interest rates, but can enjoy other facilities including grace period of six to nine months, only one monthly payments, tension-free mind etc.

Due to existence of government sector, a student has an opportunity to enjoy the offers given by the government as they are quite competitive than private. Student loan consolidation rates is fixed and cant be changed after signing the contracts and whenever student has graduated or ceased to be a full time student, he can also enjoy the benefit of grace period of six to nine months which allows him to get employed and repay their loans easily.

by Otello Zorina

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Student Loans - The Best Investment in Your Future

For future planning of need. Especially those related to education, employment and family also may be. Planning often can not be separated from the investment.

The definition of an investment is a purchase that isn't consumed immediately, but will be used in the future to create wealth. Student loans give many people a chance to get a college education, which is by far, one of the most lucrative and risk free investments you can make.

Loans for business investments can rival or far exceed the amount of student loans although 80% of businesses fail within the first 5 years. On the other hand, studies by the College Board have shown that in today's information age those with college degrees earn 73% more over a lifetime than those without.

US student loans are part of a program, which is one of the truest testaments to our nation's democracy. Because of low interest student loans, everyone has access to a college education and can change the direction of their lives and lives of generations to come. For those who have perseverance and a strong desire to succeed, a student loan is often the key that unlocks the door to a wealth of opportunity and advancement.

Many American families, especially lower income families and those with at least one parent who has not attended college, believe that student loans will cause an unmanageable financial burden. However, with the low rate of interest and an extended repayment period, student loans can cost as little as $120 per month, which is close to the amountcost of many household cable or cell phone bills. With the increased earning potential that accompanies a college education, a student loans then becomes a significantly smaller portion of overall earnings.

They have a desire to complete a degree need not repressed by increasing the cost of money. Talking with one of our student loan specialists today via phone or chat with us online to learn more little known facts about the ability of student loans.

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A Look at Consolidating College Loans

Student loans provide people without the means to pay up immediate payment for an education a means to finance college costs and linked expenses. It's not exactly the most preferred path to pay up for college, but in numerous examples it is essential. After all, who holds $15,000 to pay out for one year of college study? So, once your educational activity is through, what may you do with your student loans?

College loan consolidation is a favorite way to preserve cash on pupil loans. If you take out a student loan to help pay for your education, chances are you took out more than one loan. A college loan integration takes numerous school loans and unites them into one. There are a couple of benefits to doing this. Foremost, rather than paying for separate loans, you simply need to pay a single loan once per month. Secondly, the college loan consolidation payment is oftentimes lower than the amount of the separate loans.

Why would an individual take a college loan consolidation? Educational costs may be exceedingly high. The total balances of one's training loans might go past the price of luxury autos and even houses. Graduating from college does not always translate to finding a high-paying job from the kickoff. For many graduates in the workforce, student loan payments eat up a big chunk of income, with not much leftover for day to day expenses.

A college loan consolidation might offer up relief in the form of lower payments. A college loan integration could likewise offer up relief in the shape of lower interest rates. Rates of interest may alter widely among other student loans. Chances are, at least one of your loans carries a stiffer rate than what the college loan consolidation offers up.

The bottom line is you can save money from a gentler monthly payment, lower rate of interest, less total of payments, or even a combination of the three. Whenever you consolidate into a lower rate of interest, you shrink the interest you ante up over the lifetime of the loan. Additionally, consolidating your loans may spare you a bit of time. handling several student loans can become involved. You need to keep track of which payments go to which lender. A simple error might cause you to underpay one loan while overpaying another. A consolidation does away with this by allowing you to keep track of merely one loan.

If you want to truly increase the convenience of a consolidation, you can have the monthly payment deducted directly from your bank account. As long as you know not to use that payment amount of money for some other expenses, you need not vex about being late or underpaying your loan. As an extra incentive, many consolidation loan lenders provide extra rate decreases for borrowers who take advantage of an automatic payment feature. Whenever this bonus is proposed, there really are zero reasons not to use an automatic payment method.

by James Hunaban

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College Loan Corporation Wins Technology Award

College Loan Corporation (CLC), the nation’s seventh largest student loan provider, today announced that it had recently won a technology award for its innovative use of a software solution. CLC was recently awarded the 2006 OnBase® RealSolutions Award for its outstanding use of the document management system in student loan processing.

CLC chose Hyland Software’s OnBase enterprise content management (ECM) solution to automate the scanning and filing of loan applications into readable, electronic documents. CLC won the award because of its original use of the product for streamlining loan process workflow by electronically sorting and processing borrower files.

“We are pleased to be chosen as the winner of this technology award,” said David Hawn, chief operating officer of CLC. “CLC is proud of the personal service that we provide to families through our 24/7 hotline and our experienced loan consultants. Now, we can be equally proud of our innovative use of technology, which we use to quickly get funds into the hands of families and schools.”

CLC is committed to using technology to speed up paperwork – not to replace the personal touch. CLC offers first-class service to students and families 24 hours a day, 7 days a week through our borrower hotline. With their first call, families are assigned a loan consultant who provides them with the best advice for their unique situation while saving them the hassle of re-explaining issues. Loan consultants can develop a relationship with a family that spans from application through repayment.

“Families are looking for help from a student loan company that can provide personalized service throughout the process while using technology to cut through paperwork,” added Hawn. “CLC’s unique ability to provide this has made us the seventh largest student lender in the nation.”

The OnBase RealSolutions Award complements CLC’s recent wins in the “Best Customer Service” category at the 2006 American Business Awards, as well as the 2006 Torch Award for Marketplace Ethics from the Better Business Bureau of San Diego and Imperial Counties.

About Hyland Software Inc.
Established in 1991, Hyland Software Inc. is the developer of OnBase, a rapidly deployable suite of enterprise content management (ECM) software applications. OnBase® is a modular suite of ECM applications that includes document imaging, workflow, electronic document management, COLD/ERM and records management. OnBase allows organizations to manage all digital content, including scanned paper documents, e-mails, faxes, print streams, application files, e-forms, Web content and multimedia files. OnBase is used by businesses and government agencies around the world to reduce the time and cost of performing important business functions and address the need for regulatory compliance through the management, control and sharing of digital content with employees, business partners, customers and other constituencies. For more information about OnBase, please contact an OnBase Authorized Solution Provider or visit www.onbase.com.

About College Loan Corporation
College Loan Corporation (CLC), headquartered in San Diego, is the nation’s seventh largest student loan provider, managing more than $9 billion in student loan assets. By offering innovative loan products and industry-leading customer service, the Company has helped make higher education possible for more than 700,000 students and families. More than 900 colleges and universities have designated College Loan Corporation as a preferred lender.

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College Foundation Helps Graduates Weigh Loan Consolidation Options

With graduation from college, education loan borrowers frequently receive a barrage of offers and pressure to consolidate loans into one easy monthly payment.

For the past several years, large increases in variable interest rates have created a frenzy to consolidate. This year, however, interest rates on variable education loans are changing very little. Most Stafford and PLUS Loans with variable rates will see an increase of less than one-tenth of one percent.

Even so, it is still a good time to consider your loan repayment options. College Foundation of North Carolina (CFNC) provides information about a variety of ways to handle your payments. A consolidation loan might be a good choice for you, but, since federal regulations, in most cases, specify that you can only consolidate your student loans once, CFNC wants to be sure you don't make a costly mistake.

Some questions you need to consider before consolidating include:
What is the current interest rate on my loans? Can I handle my loan payments comfortably without consolidation?

Is it worth extending my payments further into the future and paying more interest, even if my monthly payment is lower?

How long has the company offering to consolidate my loan been in business? Does it plan to keep my loan or immediately sell it to another company I have never heard of?

Am I being pressured by a company to consolidate without having the chance to compare benefits and repayment incentives from other lenders?

In previous years, there were rules preventing borrowers from consolidating with companies other than their current lender. You are now free to compare offers and choose the option that's best for you.

Just don't wait until the last minute to apply or ask for help in making your consolidation decision. The last few years, on the final days before July 1 interest rate increases, College Foundation has received thousands of phone calls and faxes, and some late callers had trouble getting through in time.

If you need help comparing benefits and offers, College Foundation of North Carolina has call center representatives who are ready to assist you at the toll-free number 866-866-CFNC. Helpful information and online applications are easily available at CFNC.org. If you decide a consolidation loan is a good choice for you, going to CFNC to borrow from College Foundation, Inc. can save you up to 2 1/4% on your interest rate.
About College Foundation of North Carolina
College Foundation of North Carolina (CFNC), a free service of the State of North Carolina provided by Pathways, College Foundation, Inc. and the State Education Assistance Authority, helps students plan, apply and pay for college.

The State Education Assistance Authority is the State agency that promotes access to higher education by administering financial aid and savings programs, informing students and families about paying for college, teaching educators about financial aid administration, and advocating for resources to support students.

Pathways is a state-based initiative including North Carolina's Department of Public Instruction, the University of North Carolina System, the North Carolina Community Colleges, and the North Carolina Independent Colleges and Universities working together to increase access to college for all North Carolinians.

College Foundation, Inc., a nonprofit corporation serving North Carolina students and families since 1955, administers a portfolio of more than $2.8 billion, including low-interest education loans, the state's college grant programs and the tax-free "529" college savings program on behalf of the State Education Assistance Authority.

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Community College Disadvantages

While there are many distinct advantages that can be associated with attending a community college there are a few disadvantages that I would be remiss in not mentioning. We all like to look at the positive side of things and the good in my opinion of community colleges, at least as a springboard for university learning far outweigh the bad. However, if you are considering community college as an option whether for your associate's degree alone or have plans to move along to the university level upon completion you should see the big picture and not just the sunshine and flowers.

The first thing you should be aware of, and this applies primarily to those students with plans to transfer, is that you should always consult the college you intend to attend next in order to make sure that the courses you are taking on the community college level are compatible with the core requirements for the university. In many cases they are similar enough to be considered compatible but there are exceptions and it is better to find this out sooner rather than later. If you plan to attend a University that is located near the community college you are attending you should check and see if they have some sort of articulation agreement that will allow associate's degree graduates to transfer seamlessly.

Many states are stepping in and passing laws that require colleges in their specific states to accept community college credits as transfer credits in an effort to keep qualified workers in the state. Some universities are even offering distance learning programs to associates degree graduates in order to allow access to students who live a greater distance from campus to have access to educational opportunities that would have been denied to them in the past. Of course if you live in one of these states, a former disadvantage may now work in your favor.

Many community colleges do not offer housing opportunities and most of those that do are still largely commuter campuses rather than residence campuses. Rather than spending funds on housing these colleges tend to reserve their spending to assist in academic pursuits. Community colleges in rural areas are much more likely than those in larger cities to offer housing on campus. The lack of on-campus housing makes participation in sports and other activities a little more difficult than colleges that are largely residential in nature.

If you decide to make a community college your last stop when it comes to your personal educational experience you will be denying yourself a great deal of earning potential over the course of your lifetime. For this reason you should seriously consider the benefits that transferring to a university will present for your educational goals.

My largest complaint when it comes to community colleges when compared to larger universities was the fact that there are such limited opportunities to take specific classes than when compared to those classes on a university level. You will find that you must remain within your sequence of courses on the community college level or you risk needing an extra semester or year in order to complete the requirements for your associate's degree. Universities tend to offer greater flexibility, especially in lower level courses that are required by all in order to graduate.

My other major complaint when it comes to community college is the fact that they often have much smaller libraries than universities. This seriously limits the ability that students have to do extensive research with the exception of rare cases. Universities simply have deeper pockets than the average community college. For this reason they will have bigger libraries and far more bells and whistles than the average community college. Hopefully we'll see this change over time as well. Despite the disadvantages that can be associated with community college educations, I feel that they are very much outweighed by the benefits that the community college learning environment offers.

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A Guide to Private Student Loan Refinancing

There are two different types of student loans; federal and private. Federal loans, like the Stafford Loan and the Perkins Loan, are backed by the federal government. Interest rates on federal student loans are determined by a weighted average and capped at 8.25%. Private student loan consolidation rates on the other hand, are determined by your credit score and can be significantly higher. If you've got both federal and private student loans and are looking to consolidate, there are few things that you'll need to keep in mind throughout the process.

Can private student loans be consolidated with federal student loans?
No. By combining federal and private student loans, you would lose out on many of the benefits of your federal loans including the ability to place your loan into a deferment or forbearance status, as well as the low federal interest rates.

What interest rate can I expect when I consolidate private student loans?
Private student loan interest rates aren’t regulated like those for federal student loan consolidation. Instead, private student loan interest rates are based on an index plus a percentage determined by your credit score. It may be possible to obtain a lower rate on a private consolidation loan with a cosigner or guarantor on the loan.

What other options are available for consolidating private student loans?
There are far fewer options for consolidating private student loans than with federal student loan consolidation. Many borrowers choose to consolidate their private student loans through a home equity refinance. For borrowers with variable interest rate private student loans, consolidation through a home equity loan can offer a fixed percentage rate and extended repayment terms.

Refinance federal student loans first
Because private student loans don’t have the same consolidation benefits, most experts strongly recommend refinancing federal student loans before attempting to consolidate private loans. Since most borrowers use federal student loans to fund the majority of their education and obtain private loans only to fill in the gaps, refinancing federal loans now may give you the relief you need.

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