Posts Tagged ‘student loans’

h1

What does putting my student loans in forbearance mean?

April 24, 2013

Forbearance

Forbearance is a period during which your monthly loan payments are temporarily suspended or reduced. Your lender can grant you a forbearance if you are unable to make loan payments due to certain types of financial hardships. During forbearance, principal payments are postponed but interest continues to accrue. Unpaid interest that accrues during the forbearance will be added to the principal balance of your loans, increasing the total amount you owe.If you are in need of further assistance you can contact one of the student loan debt experts at http://www.nwcdr.com/student-loan-consolidation/ 

Advertisements
h1

Do not ignore your student loan payments or you will risk going into default!

April 10, 2013

If you don’t make your loan payments, you risk going into default. Defaulting on your student loans has serious consequences. Your school, the financial institution that made or owns your loan, your loan guarantor, and the federal government all can take action to recover the money you owe. You need to understand how missing a loan payment can be a serious problem. You should know what default means and the consequences of default.You should know what to do if your loan is in default or if you think the default on your loan is an error.  After reading this information you may want to contact a student loan  debt expert at NWCDR for more information. Call toll free (877) 282-7587 Student loan debt experts are standing by. You can also visit http://www.nwcdr.com/student-loan-consolidation/ 

h1

Learn about how, when, and to whom you make your federal loan payments.

April 2, 2013

When it comes to repaying your federal student loan, there’s a lot to consider. Understanding the details of repayment can save you time and money. Find out when repayment starts, how to make your payments, repayment plan options, what to do if you have trouble making payments, and more! These are some of the questions you should be asking before you receive a student loan:

When do I began to repay my student loans?
What’s a grace period? 
Can my grace period change?
How much will I need to pay?
How do I make my payments? 
Can I pay more than my required monthly payment? 
What should I do if I’m having trouble making my loan payment? 
What happens if I dont make my student loan payment? 
Can I cancel my loan? 

If you are one of the many consumers that has no idea or is not sure about the answers to the questions above than you need to seek expert advise. You can contact a student loan expert at Nation Wide Consumer Debt Relief for this free information or you can contact your loan provider.  

 

h1

Students feeling the pain of sequester cuts from fee hikes on there federal loans

March 15, 2013

The effects of the sequester have spread to the hallowed halls of education.

Both graduate students and the parents of undergrads have been slowly receiving letters from the federal Department of Education. The letters say the fees on their Direct PLUS loans from the government are being raised as a direct result of the automatic budget cuts that kicked in this month because Congress and the White House couldn’t come to a fiscal agreement.

“On August 2, 2011, Congress passed the Budget Control Act of 2011, which put into place automatic federal budget cuts, known as the ‘sequester.’ While this law does not otherwise change the amount or terms or conditions of your Direct Loan, it does raise loan fees on Direct PLUS Loans first disbursed after March 1, 2013 states the letter we received. 

“Specifically, the fee on your loan will increase from 4.0 percent of your loan amount to 4.204 percent. For example, the fee on a $10,000 PLUS loan will increase by $20.40 from $400.00 to $420.40,” the letter continues.

While the increase is slight, many families will still have to tighten belts on already strained budgets. If you or someone you know needs help consolidating and lowering there student loan debt payments than contact Nation Wide Consumer Debt Relief. We specialize in student loan consolidation. Call 877-282-7587 or go to http://www.nwcdr.com/student-loan-consolidation/