Need Advice for Student Loans
Date: Wed, 08/08/2007 - 16:31
Need Advice for Student Loans
The biggest advice I can give to you to prevent default is to ke
The biggest advice I can give to you to prevent default is to keep in touch with your lender. If your phone, address or email changes, call your lender immediately. Do not expect them to look for you without consequences...also mail forwarding is not considered notifying your lender. If you are running into financial difficulties, call them before you miss a payment, not after. They can easily grant a deferment or forebearance to prevent your credit from being damaged.
For a lot of people, consolidation is a huge benefit. Payments can be extended out further to make them more affordable. However by my calculations, your interest will be running you about $225 per month so keep that in mind. If you decide to consolidate, I always recommend doing so with Direct Loans thru the Department of Education.