Best advice consolidating student loans Bablesexchat com
In fact, the Class of 2015 graduated with more student loan debt than ever before.As the six-month grace period comes to an end for graduates nationwide, many students will start the task of repaying an average student loan balance of over ,000.The time is going to pass anyway, and I'd rather look at 2016 and be out of debt than 2025 or 2030." Also, she recommends borrowers take a close eye to their interest rates.Her own loans, a ,000 mixture of public and private, originally held interest rates as high as 10.75% that caused her total debt to balloon into six figures.And then, "find a way to up your income and take your monthly expenses down.reported a company called Charter One has been advertising an Education Refinance Loan with fixed rates as low as 4.74% and a variable rate of 2.31% above the one-month LIBOR rate.With interest — her rates were as high as 10.75% — the total she owed soared into six figures.The 29-year-old was able to have the loans consolidated in April 2015 at a 2.85% interest rate.
"See if the rates are reasonable, and if not, find a way to refinance," she advised.
Finally, I always recommend that you start your degree out at a community college and then transfer to a ‘name school’ where you plan to get your degree.
Co-Founder at LENDEDU, Guest Contributor Student loans have become the new normal for most graduates.
I also applied for a Parents Plus Federal Loan that requires no cosign and was denied because of my dads poor credit history.
On Thanksgiving Day 2016, Jessica Elberfeld submitted her last student loan payment. Elberfeld originally borrowed ,000 for two years at Belmont University, a private school, after two tuition-free years at a community college.
You can refinance anywhere from $10,000 to $170,000 in private student loans with 15 or 20-year repayment options.