Student Loan Consolidation

Student Loan Consolidation

by kausik dutta

Paying for schooling can be tough. Not only do you have to come up with the money for tuition, but there are also textbooks, meal plans, and housing to think about. Student loans are a great option to help pay for college education. Sometimes, though, there can be too many payments, and consolidating your loans is a great option. If you apply for student loan consolidation through My Tuition, there are many benefits and advantages to keep in mind. Your monthly payments will be lowered up to 60%, and you'll only have to deal with one monthly payment. You'll never have to juggle loan bills again, trying to remember which one has been paid and which haven't. The interest rate is fixed and at an all-time historic low, so it's the perfect time to consolidate. With My Tuition Rewards, you can also reduce your interest rate an additional 0.6%, meaning that your already-low interest rate will be even lower. This is all just the beginning. A Federal Consolidation Loan is a free federal program, meaning that there are no application fees to worry about and no credit check. It's an added benefit of Federal Student Aid. Also, your interest may be tax deductible, so it's a smart financial move. There is no pre-payment penalty: anything you pay over your due monthly payment is applied directly to the principle. None of that amount would go towards your interest. If you have over $10,000 in student loan debt and have not previously consolidated your loans, then you are eligible for a Federal Consolidation. Also, you must not be in default on any of your loans. Applying for student loans and trying to pay them off is a hassle. Visit MyTuition.com and apply for a Federal Consolidation Loan. It will take the hassle out of paying for your education.