Repay Student Loans » Direct Consolidation Loan, http://www.repay-student-loans.com Student Loan Consolidation & Student Loan Repayment Mon, 07 Nov 2011 22:00:03 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 There are some loans are ineligible for consolidation http://www.repay-student-loans.com/2010/12/there-are-some-loans-are-ineligible-for-consolidation/ http://www.repay-student-loans.com/2010/12/there-are-some-loans-are-ineligible-for-consolidation/#comments Fri, 31 Dec 2010 22:40:47 +0000 admin http://www.repay-student-loans.com/?p=169 Although most education loans are eligible for consolidation into a Direct Consolidation Loan. There are some private loans that are always ineligible for consolidation. So before you take out any student loans, consider your options and study all fine prints. It’s easy and tempting to get the loans before you enter the programs and thinking it’ll be easy to pay them off later on with good salary. or some of you might think that you’d worry about that later on.

It’s not the same any more. Students who graduate in bad economical times often find themselves looking for jobs and finding none or they’d have to take jobs that are low payed. Many recent graduates find themselves just in that situation. So before you sign any loan papers, talk to a professional. Here are some loans that will not be eligible for consolidation:

  • Loans made by a state or private lender and not guaranteed by the federal government
  • Primary Care Loans
  • Law Access Loans
  • Medical Assist Loans
  • PLATO Loans

Source: U.S. Department of Education

]]> http://www.repay-student-loans.com/2010/12/there-are-some-loans-are-ineligible-for-consolidation/feed/ 0 What are the benefits of a Direct Consolidation Loan? http://www.repay-student-loans.com/2009/04/what-are-the-benefits-of-a-direct-consolidation-loan/ http://www.repay-student-loans.com/2009/04/what-are-the-benefits-of-a-direct-consolidation-loan/#comments Wed, 22 Apr 2009 17:53:25 +0000 admin http://www.repay-student-loans.com/?p=24 Direct Consolidation Loans allow borrowers to combine one or more of their Federal education loans into a new loan that offers several advantages.

One Lender and One Monthly Payment

With only one lender and one monthly bill, it is easier than ever for borrowers to manage their debt. Borrowers have only one lender, the U.S. Department of Education, for all loans included in a Direct Consolidation Loan.

Flexible Repayment Options

Borrowers can choose from four different plans to repay their Direct Consolidation Loan, including an Income Contingent Repayment Plan. These plans are designed to be flexible to meet the different and changing needs of borrowers. With a Direct Consolidation Loan, borrowers can switch repayment plans at anytime.

No Minimum or Maximum Loan Amounts or Fees

There is no minimum amount required to qualify for a Direct Consolidation Loan! In addition, consolidation is free.
Varied Deferment Options

Borrowers with Direct Consolidation Loans may qualify for renewed deferment benefits. If borrowers have exhausted the deferment options on their current Federal education loans, a Direct Consolidation Loan may renew many of those deferment options. In addition, borrowers may be eligible for additional deferment options if they have an outstanding balance on a FFEL Program loan made before July 1, 1993, when they obtain their first Direct Loan.

Reduced Monthly Payments

A Direct Consolidation Loan may ease the strain on a borrower’s budget by lowering the borrower’s overall monthly payment. The minimum monthly payment on a Direct Consolidation Loan may be lower than the combined payments charged on a borrower’s Federal education loans.

Retention of Subsidy Benefits

There are two (2) possible portions to a Direct Consolidation Loan: Subsidized and Unsubsidized. Borrowers retain their subsidy benefits on loans that are consolidated into the subsidized portion of a Direct Consolidation Loan.

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