What to Look for in a Student Loan Consolidation

The key lies in finding the best borrower benefit package (Typically rate reductions offered for on-time payments or auto-debit payments) with the least amount of small print and misinformation. There are so many marketing gimmicks out there; "no fees," "grace-period rate reductions," "principal reductions,"etc. Thankfully there are comparison sites, such as "Simple Tuition" that are helping make the search somewhat easier, while companies such as "theLoanster.com" are offering best-in-group benefit packages.

Monday, January 29, 2007

Return of In-School Consolidation?

Sen. Edward Kennedy (D-MA) introduced the Student Debt Relief Act of 2007 (S. 359) along with Senators Durbin (D-IL), Lieberman (D-CT), Mikulski (D-MD), Obama (D-IL), and Schumer (D-NY) as cosponsors.
"A new day has now dawned in Congress, and last week, our colleagues in the House showed they have their priorities right on college costs by cutting student loan interest rates in half," Kennedy stated in the Congressional Record. "Now it’s our turn in the Senate, but we won’t stop there."

In addition to the interest rate cuts in H.R 5, S.359 offers increased Pell grants, and a return to in-school consolidation.
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