As a way of clearing the fog of denial, I decided to look at my options and thus I stumbled upon college loan consolidation.   There was a time when student consolidation loans were all the rage, but it may actually not be the best option for those with loans from different sources.

What are Student Consolidation Loans?

In a student loan consolidation, the federal student loan is paid in full by the consolidating company and a new loan called the consolidation loan is created.

Why Consolidate Student Loans?

In the past student loans used to have variable rates, so it would make sense to consolidate at a lower fixed rate, so it
made sense to take out a student consolidation loan.  However, since loans like the Stafford loan are fixed rate now, that may not be such a good idea.

Benefits of a Student Consolidation Loan

• One payment to one lender instead of to multiple lenders

• You may be able to make smaller payments

• There is no fee to consolidate your student loans

  Disadvantages of a Student Consolidation Loan

  • The debt repayment period may be extended
  • The consolidated student loan rate may be higher then that of the individual loans

  If you choose an expended payment plan, you may end up paying more over the long term.

  Since I am in the early stage of repayment, I don’t expect to take out any student consolidation loans.  However, late, this may or may not become a viable option.

  Walk in Beauty

     

  ]]> http://beautyisnow.com/54/is-it-time-for-a-student-consolidation-loan/feed/ 0 http://beautyisnow.com/19/the-taste-of-life/ http://beautyisnow.com/19/the-taste-of-life/#comments Fri, 23 May 2008 00:21:44 +0000 admin http://beautyisnow.com/?p=19 I’ve been thinking a lot about Ted Kennedy, bless his heart. What must he be thinking right now? I
  know that he is somewhat in shock. Even though he is in his seventies, he is a robust, energetic man. To be suddenly hit with the possibility that he might not have, 6 months to a year left to live must be devastating. Devastating and too horrible to believe.

  I wonder if he is planning the rest of his life now. Is he thinking about all the things he wants to do? I bet he is cherishing every day he has left. Life must be so precious to him right now.

  How easy it is for us to forget how precious life is. We go through the daily hustle and bustle without taking time to breathe.

  We don’t savor life on our taste buds. We don’t count our blessings.

  I want to get to the point where I live every day as if it were my last. I want to savor my relationships, my family, my work. I want to take the time to go to the bookstore or the museum. I want to attend more concerts and dances.

  My mid-year resolution is to savor the taste of life.

  Walk in Beauty

     

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