About me

YES, there could be. Consolidation is used as a debt management tool and is ideal for those who are having difficulty making their monthly payments. It is designed to extend out your loan terms and minimize your monthly payment. Because of the additional years, consolidation may significantly increase the total cost of repaying the [...]

YES, there could be. Consolidation is used as a debt management tool and is ideal for those who are having difficulty making their monthly payments. It is designed to extend out your loan terms and minimize your monthly payment. Because of the additional years, consolidation may significantly increase the total cost of repaying the [...]

NO. How bout that? You just read the world’s shortest blog. I may be a man of few words, actually just one word, but my words are even more powerful than the semi-popular teenage alien superhero duo of Zan & Jayna. That’s right, the Wonder Twins! Actually, by boasting about my one word blog I [...]

I became a father for the first time earlier this year which was the best moment of my life. Every decision I now make is with Barrett (featured to the right) in mind, which includes going back to school. I’m currently enrolled in classes with the aim of bettering myself, providing a better life for [...]

“I can’t pay my bills, help!”  I hear that unwanted phrase at least 10 times a day, and many others who don’t actually say it are thinking it.  I can hear it in their voice. For those in trouble, and I know there are many as the unemployment rate is holding steady at 6.1%, you [...]

Here is my consolidation question of the day! Question: I only have one private loan so I can’t consolidate, right? Answer: WRONG! Loan consolidation is viewed as a debt management tool. The purpose is to extend your loan terms to help minimize your monthly payment. Regardless of whether you have one loan or ten you may apply [...]

I have spoke to many students who are under the belief that consolidation is a means by which to lower your interest rate, however that is not the case. The real benefit to consolidating is extending your loan terms and minimizing your monthly payment. Granted, your rate may decrease as some lenders use the LIBOR [...]

FICO comes from the Fair Isaac Company, which came up with the process of condensing all of your credit information into one three-digit number. Three major credit bureaus hold your FICO score; Equifax, TransUnion, and Experian, and each calculate it a little different than the others. Should you wish to dispute a mark on your [...]

Consolidation is a great debt management tool. It allows you more time to repay your loan(s). You can generally extend your loan terms out to 25 or 30 years from the initial 10-year marker, which means you can dramatically lower your monthly payment. Another good thing these days are the lower interest rates. When the [...]

I have heard recently that if you have previously consolidated your Federal loans, you can switch your loans over the US Dept of Education (Direct Loans). Keep in mind that your rate will not change, and your loan term will most likely start over…so if you have been paying for 5 years already, you may [...]

As of July 1, 2008, the interest rate on all NEW subsidized Stafford loans will drop to 6.0%, a reduction of 0.8%. Bear this in mind next year when it’s time to consolidate your student loans!