Student Loan Consolidation Rates - Helpful Tips

Student loan consolidation has many benefits. Before you sign up on the dotted line, you should know how to get the best student loan rates. If you are tired of too many bills and monthly due dates, it may be time to find the best student consolidation loan you qualify for.

The most obvious way to get the best student consolidation loan rates, is by having great credit. It's easy to get great student consolidation loan rates with a FICO score over 660. But, there are several ways to get the best student consolidation loan rates.

Know Your Credit Before Shopping For Student Consolidation Loan Rates
By doing a simple Google or Yahoo search on FICO and credit scores to find the information you need to check out your credit score. This really should be your first step to getting the best student consolidation loan rates. With knowledge, you will get the best student loan consolidation rates for your financial situation.

Student consolidation loan rates can vary from person to person. The student consolidation loan rates offered will be based on your financial situation and FICO score. With a FICO score under 600, you will have a tough time getting a good student consolidation loan rate.

Refinancing And Home Equity Loans Used For Student Loan Consolidation
With a home equity loan, you can get the best student consolidation loan rates possible with good credit. Secured by your home, a student consolidation loan can help get rid of your high credit card rates and loans. You will have less bills to pay, with the best student consolidation loan rates to lower your interest on several loans.

Refinancing your home mortgage may be an option to get the best student loan consolidation rates.

The important thing to remember with home equity loans and refinancing, is to be logical and don't let your emotions get the best of you. You may get the best student consolidation loan rates available, but you still have to pay back the loan over time.

It's best to take the time to sit down and research all your options that are available to you to get the best loan and interest rate.

Resources Online For Getting The Best Student Loan Consolidation Rates
With today's Internet resources, you have an advantage when looking for the best student loan consolidation rates online. Take time to get educated on the process of getting the best student consolidation loan rates, and you can save yourself thousands of dollars on the student consolidation loan rates available, with just a few clicks of the mouse.

The idea is to combine all your current debts that you owe into one large debt with the lowest interest rate possible. Instead of making monthly payments on several high interest loans ranging from 12% to 28%, you can make one payment each month to one company.

Today's career minded students can get help with the burden of having several student loans. You can focus on your career, instead of losing sleep over paying several monthly loan payments. Student loan consolidation can be the solution with many advantages. With today's Internet technology, you can get a student loan consolidation quickly and easily.

Student Loan Consolidation: Turn Your Variable-Rate Student Loans Into One Fixed-Rate Loan

Although Federal PLUS Loans and Stafford Loans are currently issued at fixed interest rates, PLUS and Stafford loans issued prior to July 1, 2006, are variable-rate student loans. The interest rate on these college loans adjusts every year on July 1.

If you’re a PLUS or Stafford borrower with one of these variable-rate loans, your monthly payment amount could fluctuate from year to year, depending on your adjusted rate. When interest rates go up, the monthly payments on your federal parent and student loans may also go up, putting a bigger dent in your budget than you may have planned.

Lock In Your Monthly Payments With Student Loan Consolidation

If you wish you could do away with the uncertainty of variable interest rates and potentially higher payments, NextStudent’s student loan consolidation program could be the solution you’re looking for.

NextStudent Federal Consolidation Loans give you the security of a fixed interest rate. By consolidating your federal college loans with NextStudent, a leading Phoenix-based education funding company, you’ll replace your variable-rate parent and student loans with a fixed-rate student loan consolidation.

With a federal student loan consolidation, you’ll never have to worry about rising interest rates leaving you guessing about your monthly payment amount and whether you’ll have enough room in your budget.

Cut Your Monthly Payments on Your Student Loans by up to 40%

Besides offering you the stability of a fixed interest rate, NextStudent consolidation loans could also cut your monthly student loan payments almost in half.

The standard repayment term for Stafford and PLUS loans is 10 years. But when you consolidate your parent or student loans with NextStudent, you may be able to extend that 10-year repayment term by up to 20 years to a 30-year repayment term. By extending your payments over a longer repayment term, your student loan consolidation could lower the amount you have to pay each month.

Consolidate your college loans with NextStudent, taking advantage of that longer repayment term, and your monthly student loan payments could go down by up to 40%!

Hassle-Free Repayment for Your Student Loans

If you have several parent or student loans in repayment and you’re juggling multiple bills, multiple due dates, and multiple monthly payments to multiple lenders, a student loan consolidation could help make your student loan repayment easier to manage.

With NextStudent’s student loan consolidation program, you can bundle your entire eligible federal parent or student loans into one single fixed-rate consolidation loan—that means just one monthly bill and only one monthly payment you’ll have to make. And that payment amount is fixed for the life of your student loan consolidation.

Fast, Easy, and FREE: Apply in Minutes to Consolidate Your Student Loans

You can apply for your NextStudent consolidation loan in minutes, either online or with a quick phone call. It’s fast, easy, and free to apply, and there are no credit checks, so you won’t need to worry about finding a co-signer.

1. NO fees
2. NO credit checks
3. NO co-signers required

You don’t need to worry about prepayment penalties either. There are no prepayment penalties on NextStudent Federal Consolidation Loans. When you consolidate your federal parent or student loans with NextStudent, you’ll never be charged extra for paying more than the minimum each month or for paying off your consolidation loan early.

Consolidating Your Federal Student Loans

To be eligible to consolidate your own federal student loans, you can’t currently be enrolled in school more than half time. The student loans you’re looking to consolidate must be in repayment, in a grace period, or in an authorized deferment or forbearance period.

If your parents have Federal PLUS Loans that they took out to help you pay for school, they’re also eligible for NextStudent’s student loan consolidation program. And your parents don’t have to wait for you to graduate in order to consolidate their own loans: Your parents can consolidate the PLUS loans they took out for your education as soon as the PLUS loans have been fully disbursed and have entered repayment, even if you’re still in school.

Although your parents can consolidate their federal PLUS loans, you won’t be able to consolidate your own college loans together with your parents’ loans.

Student Loan Consolidation for Your Private Student Loans

If you have private student loans in addition to (or instead of) your federal student loans, you won’t be able to consolidate your private loans with the federal student loan consolidation program. But if you’re looking for the same convenience of a single consolidated loan for your private student loans, you may be eligible to consolidate your private student loans separately with a NextStudent Private Consolidation Loan.

Student Loan Information

College costs are on the rise, averaging a 5% increase every year. Shoreline Credit Union can help you finance your college education today! We offerSubsidized and Unsubsidized Stafford Loans. Parents can also borrow for their child's education under the PLUS (Parent Loan for Undergraduate Students) Loan.

All loans are guaranteed by Great Lakes Educational Loan Services Corporation. Great Lakes can be reached at 1-800-236-6600 or online at www.mygreatlakes.com. Click on "Borrower" and Login at the mygreatlakes site. If you are a new user then click on "Register" and follow the instructions. You will need to access the 'IBIS - Borrower Inquiry' to get information on your loan.

Lender Code: 829246 - Not just another number! 829246 is our Student Loan Lender Code. By entering this code number on your loan applications and promissory notes, the source of your student funding will be Shoreline Credit Union. Be sure to give this number to your school's financial aid office as well.

Why Shoreline Credit Union for Your Student Loan?

• Low interest rates
• Fast loan approval and turnaround
• Available to all students attending either full or part time
• Payments are deferred until six months after you are out of school
• A choice of repayment plans to suit your budget - including 1 convenient monthly payment for all your Shoreline Credit Union student loans
• Our friendly and experienced loan team will answer your questions and help you through the financial aid process

Starting the Application Process

Follow these helpful links to forms and instructions to begin the loan process:

1. Start by reading the Student Loan Quick Reference Guide (PDF).
2. Complete the FAFSA form (Free Application for Federal Student Aid). This must be done prior to applying for any student loans. You can fill it out and submit it online by clicking on "Filling Out a FAFSA" at www.fafsa.ed.gov.
3. Fill out the Stafford Loan Master Promissory Note (PDF). The MPN will be used for all of your loans over multiple academic years at the same school. Complete the online form, print, and mail to Shoreline Credit Union.
4. Fill out the PLUS Loan Application (PDF). The PLUS Loan allows parents to borrow for dependent children. Complete the online form, print, and mail to Shoreline Credit Union at: PO Box 27, Two Rivers, WI 54241-0027.

Repayment Options

• Regular Payment Plan (10 year amortization or $50 each month minimum payment)
• Graduated Payment Plan
• Income-Sensitive Plan
• Consolidation Loan

Make the Smart Choice - Come to Shoreline Credit Union for Student Loans

In addition, we have a number of products and services designed to help every student make a smooth transition to financial independence. Online Banking & Bill Pay and SAIL - students can keep in touch with their accounts using a computer or telephone. Checking Account - every student needs one! No minimum balance and no monthly fee. VISA® Check Card - make purchases everywhere VISA® is accepted, and make cash withdrawals from ATMs worldwide. MasterCard® - reasonable limits make it easy to cover necessities and emergencies. Plus, students can begin to build a credit history.

Shoreline Credit Union Now Offers Student Loan Consolidation

You can save up to 50% on your monthly student loan payments by combining education loans from multiple lenders into a single loan with one lower monthly payment and a fixed interest rate. Loans being consolidated must total at least $5,000 and must be in the grace or repayment period. Your extended repayment period will be determined by the total loan balance consolidated. In addition, students who could only obtain their Stafford loans under the William D. Ford Direct Loan Program can NOW choose Shoreline Credit Union for their consolidation loan. For a consolidation packet, contact us at (920) 793-4541 or email us at help@shorelinecu.org.