Students who are crying out "lower my student loan!" may be confused with recent events in the U.S. Senate. While some senators are pushing to extend the College Cost Reduction and Access Act so that interest rates on new loans as of June 30th, 2013 will not double, the House of Representatives has already passed a bill called the Smarter Solutions for Students Act , which ties student loan rates to the 10-year Treasury note; for borrowers, 2.5 percentage points would be added to the yield rate. Without the College Cost Reduction and Access Act passing, interest rates double from 3.4% to 6.8% meaning the cost to borrow for college will become much higher. This applies to new loans taken out after June 30th of this year.
There are some Congressional members who have serious concerns about tying financial aid interest rates to something that is variable. They feel the unpredictability in doing so may not be in the best interest of the borrower being that rates could spike and put loan holders in a position where they can't afford to make their payments. As seen in the past five years, the yield on the 10-year Treasury Note has topped out at 4% but been as low as 1.38%. There is also concern about how much the government will profit off these loans should the yield rate bottom again like it has before.
Student loan consolidation is on the rise as our country holds over 1 trillion dollars in educational debt. So many graduates are finding themselves dismayed by the fact that they can't find a well-enough paying job to support their monthly loan payment(s), secure a job in the field they hold a degree, or find a job at all. Fear of not been able to pay back what has been borrowed has gripped a large percentage of borrowers.
Those who are trying to find some student loan relief have been turning to student consolidation loans as a means of lowering their monthly payment through extending the life of their loan. There are many companies who does just that. While millions of students are asking "How do I lower my student loan?", these companies are providing a service that is unique, safe and secure.
With professionally trained counselors, loan holders will be able to apply to consolidate their loans with the Department of Education. Programs offered include: 10 -30 years in repayment with a lower monthly payment benefit, minimizing the amount of interest that you pay over the term of your loans, qualifying and enrolling into Teacher Loan Forgiveness, Public Service Loan Forgiveness and other programs.
Often times consumers don't understand the complexity of borrowing financial aid. With so many different types loans and various forms of repayment plans, it can be very overwhelming to both students and parents. Although borrowers must complete entrance and exit counseling during the financial-aid process, the reality of paying back a student loan can hit a person pretty hard. A consolidation loan can help borrowers get a handle on their finances by offering lower payments.
If you are looking for student loan help, National Student Loan Relief (NSLR) is the right place to start. We work hand-in-hand with the Department of Education to efficiently relieve Federal student loan debt. Visit National Student Loan Relief at http://www.nslrelief.com/ for more information.
Article Source: http://EzineArticles.com/?expert=Laura_J_Solomon
Article Source: http://EzineArticles.com/7947485
There are some Congressional members who have serious concerns about tying financial aid interest rates to something that is variable. They feel the unpredictability in doing so may not be in the best interest of the borrower being that rates could spike and put loan holders in a position where they can't afford to make their payments. As seen in the past five years, the yield on the 10-year Treasury Note has topped out at 4% but been as low as 1.38%. There is also concern about how much the government will profit off these loans should the yield rate bottom again like it has before.
Student loan consolidation is on the rise as our country holds over 1 trillion dollars in educational debt. So many graduates are finding themselves dismayed by the fact that they can't find a well-enough paying job to support their monthly loan payment(s), secure a job in the field they hold a degree, or find a job at all. Fear of not been able to pay back what has been borrowed has gripped a large percentage of borrowers.
Those who are trying to find some student loan relief have been turning to student consolidation loans as a means of lowering their monthly payment through extending the life of their loan. There are many companies who does just that. While millions of students are asking "How do I lower my student loan?", these companies are providing a service that is unique, safe and secure.
With professionally trained counselors, loan holders will be able to apply to consolidate their loans with the Department of Education. Programs offered include: 10 -30 years in repayment with a lower monthly payment benefit, minimizing the amount of interest that you pay over the term of your loans, qualifying and enrolling into Teacher Loan Forgiveness, Public Service Loan Forgiveness and other programs.
Often times consumers don't understand the complexity of borrowing financial aid. With so many different types loans and various forms of repayment plans, it can be very overwhelming to both students and parents. Although borrowers must complete entrance and exit counseling during the financial-aid process, the reality of paying back a student loan can hit a person pretty hard. A consolidation loan can help borrowers get a handle on their finances by offering lower payments.
If you are looking for student loan help, National Student Loan Relief (NSLR) is the right place to start. We work hand-in-hand with the Department of Education to efficiently relieve Federal student loan debt. Visit National Student Loan Relief at http://www.nslrelief.com/ for more information.
Article Source: http://EzineArticles.com/?expert=Laura_J_Solomon
Article Source: http://EzineArticles.com/7947485
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