Education Consolidation Loan
Education consolidation loans can save you a significant amount of
money. The less interest you pay on your education loans, the
faster you can get out of debt! Interest rates for education loan
consolidation programs are at record lows, and it costs nothing to
Education Consolidation Loans generally mean getting loans from
the Education Consolidation Loans Company, about which you can
find out from your college or university and which gives you money
that you pay back when you leave education and get a job. Other
lenders are likely to show you the door: most mainstream bank
sites have an age limit of 22, which means most students aren't
eligible, and others simply won't lend money to anyone that isn't
in full time employment.
Consolidation simplifies the repayment process but does involve a
slight increase in the interest rate. Students who are having
trouble making their payments should consider some of the
alternate repayment terms provided for federal loans.
The problem with Education Consolidation Loans is that students
are a bad risk for banks: As if students who have no regular
income means no regular repayments, and in many cases students –
particularly new students – don't have a credit history..
That doesn't mean you don't have options: for example, many banks
offer student accounts that give you an overdraft facility.
However, if you're looking for a fairly large sum of cash then
it's time to make an appointment with the Bank of your parents.