Debt Consolidation Credit Counseling In Phoenix

Many former students use student loan consolidation programs to ease the stress of paying off their education debt. Student loan consolidation offers many benefits including reduced payments and fixed interest rates. In addition, borrowers have an easier time keeping track of their obligations as they are rolled into a single monthly payment.

Simplify your payment options with Student Loan Consolidation. Financing a college education can be a series of challenges, and most students end up with several loans through several different providers often with a variety of interest rates, payment plans, and due dates. As lower interest rates are based in part on prompt payment histories, one mistake can lead to penalties and thousands of dollars in interest charges. Consolidation is the best way to get all of a students financing packaged together with a single payment and due date, making it easier to track, and easier to remember when that big payment is due each month.

Lower your Interest Rates with Student Loan Consolidation. Often times, consolidating student loans into one big loan allow the borrower to get a fixed interest rate as well. Fixed interest rates provide borrowers with some measure of security while providing a way for borrowers to plan a workable monthly budget without the fear of sunned interest rate changes throwing their payment schedule off course. Many student loan interest charges are also tax deductible; having one single loan makes tax planning easier as well.

A consolidation loan can also help reduce the borrowers monthly payment. Taking all of the payments from all of the lenders and rolling them into a single loan, often provides the borrower with a lower monthly payment and an easier to remember payment schedule for their education debt. Payments can many times be reduced still further by electing to have payments made to the lender automatically through the borrowers financial institution.

Extend your payment terms with student loan consolidation. Extended payment terms are another feature of consolidated student loan programs that can help borrowers get their careers started without having to overcome the burden of a large monthly payment. By taking extended payoff terms, a borrower can make lower payments on their loan when they are just out of school, then after a few years if their career has progressed they can often either refinance to a shorter term or make extra payments if they choose.

There are many benefits to securing a student loan consolidation program. Especially for recent grads just starting out on their career path, reduced monthly payments, fixed interest rates, and simplified record keeping provide borrowers with the tools they need to make a successful transition once they have completed their formal education.