Tips on How to Consolidate Student Debt

In today being a student can be quite difficult. Try to get excellent grades and at the same time trying to raise money for tuition fees can be quite the challenge. Next thing, your student loans will be coming due. And for some students, the size of the loan can be huge and it may feel like it's going to take all of eternity to pay it off bit by a bit. Fortunately, there is a way to consolidate student debt, thus making it easier on you.

What Is Consolidation?

When a student finishes their schooling, chances are they are going to have several different loans. You maybe one of those students that had to take on a loan for each semester while you were in school. In a nutshell, when you consolidate student debt, all you are doing is to take all of these loans, put them together and sell them to one agency. This agency has now have bought all your debts and they will pay off all the lenders all at once and now you owe this agency for that total amount. The difference here is you now owe just one loan to this one agency, instead of many loans to many lenders.

How to Consolidate Student Debt?

If you decide you would like to consolidate your student debt, there are many ways to go about it. The first thing you should do is to check with your individual lenders to see if they have any ideas of programs that you can use. After that, there are many agencies that can help you through this process. Just do a search on Internet and you will see there is no shortage of agencies.

Money Saving ideas

Over a period of time on my main website i have been accumulating practical money saving ideas and tips that help you to save money and beat the credit crunch. The result of all these money saving ideas is that today the banks pay me interest and not the other way around.

Below are a selection that you might find helpful.

1/ Only half fill your car with fuel. Heavier cars achieve fewer miles to the gallon.

2/ Don't carry around any excess weight (like golf clubs in the boot when not needed). Each extra 50kg will increase fuel consumption by as much as 10%.

3/Take control of your heating You can avoid heating an empty house by using the timer so your central heating is switched off when nobody's at home. If you have radiator valves, you can also turn off radiators in rooms that are not being used. And if you would like to cut your heating bills down by 10%, just turn your central heating down by one degree.

4/This is one of the classic money saving tips but worth reminding you of. You buy a sandwich or tea or sweet each day at work. Cost $4 a day so over a course of a year assuming you work 5 day a week less the assumption you don't work for 5 weeks you will spend $940.

5/ Drive Smart. according to the Energy Savings Trust, an average motorist can save £120 per year by eco-driving, simply change gear upwards before you hit 2500rpm, leave air conditioning off and drive at speeds around 45-50 mph.

6/ If you have credit card debts consider switching them to one of the ones that offer upto 15 months interest free on the debt transferred across.

7/ Once you have a current account paying interest think about when your direct debits go out. Most people get paid on the 28th and d/d's go out on 1st. But if you change them to the 27th that money will be in your account for an extra 27 days earning interest. £500 of d/d's shifted to the 27th at 5% is almost another £25 per year earn't in interest.

Consolidation Guide for student Loan

Student loans are loans that are offered to students to assist in payment of the costs of professional education. The government of the country offers these loans and at a very low rate of interest. Student loans are a great help to students who plan to do further studies, in their own country or abroad, but lack the requisite funds to do that. In this way student loans not just assist the student but also his family. Many institutes and universities offer student loan. There are different types of student loans. So there are several options available for students to choose from. Broadly there are two types of loans available: Federal loans and Private Educational Loans.

The students opting for Federal Students loan program are funded and administered initially through the US Department of Education’s Federal Student Aid Programs. These loans are the easiest to get student loan consolidation services. The Federal student loan programs disburse about $60 billion a year. Stafford loans are the most common form of federal loans for students. Private student loans are administered by standard lending institutions. The most commonly opted loans in this are Sallie Mae Signature and the Citibank student loan. These organizations provide unsecured loans to a student and charge hefty interest on it.

A student can combine the private and the federal loans to gather funds for his further studies. However a student should bear in mind that these two loans should not be combined or consolidated. He should consolidate his federal loans first and then separately consolidate privately the student loan debt.

Save Money during Your Study Period

In student life it is very essential that along with study you should be also involved some savings. You should aware of some money saving tips if you are a student. In a student life especially if you are an old student then you should earn money by some part time jobs or extra curricular activities so as to balance your routine study activities. This is when you need someone to give you some money saving tips so that you can accumulate some wealth. You should always think about your future. Particularly some times come when you will have the urgent need of money and this will really help you at that time. Below are some simple to carry out money saving tips that you can apply in your daily life. You might just find yourself to be a wealthy student soon.

1. Plan beforehand

This step should be applied in everything that you do, especially if you are a college student. This is one of the money saving tips that can prevent you from overspending even before you move into your dorm. Next, map out your cash flow chart. Consider where the source of your 'income' is. Apart from getting money from your parents, student loans, can you get yourself a part-time job to substantiate your monthly 'income'?

Since planning is the first step of your money saving tips, you should now set aside your budget for your fix monthly expenditure. Allocate your money for your food, books, etc and make sure you stick to your plan! Self-discipline is very important here. You might learn all the money saving tips in the world but if you do not stick to them, you will not succeed.

2. Save on expensive food

Having set aside a sum of money for your food means you have to find a cheaper way to get the food. This could be a point that you did not realize when you were still staying with your parents. However, now you should stop eating at fast food outlets as you will definitely find that you have exceeded your budget very soon. Try bringing your own lunch to school instead. It is more nutritious and less expensive. This is another of the numerous money saving tips that you can apply to accumulate more wealth.

3. Take full advantage of student discounts

Check out the outlets that offer special student discounts when you display your student ID. One of the money saving tips tells you to find ways to spend less money for the same quality products, i.e. looking for discounts.

Student Debt Consolidation

Student debt consolidation loan means having the multiple student loans replaced with a single loan with a lower monthly payment scheme to be paid over a longer repayment period. Though a student debt consolidation loan is beneficial, it is important to know its pros and cons before signing up for one. The huge students’ loans have an impact on your future decisions and on your credit history. So make it a point to have your student loan debt not exceed 8% of your income to get a good credit history.

There are many types of student loans, but the most common student loans are the private and federal loans. It is not advisable to go in for student debt consolidation loan by mixing these two loans together. Instead, it is better to consolidate the federal student loans and then the private loans, separately. This is because when consolidating both these kinds of loans, the federal loan benefits will all be lost.

For one to be eligible for consolidating his/her student loans, it is important that the person is no longer enrolled in a school. The person should also be repaying the debt or at least be in the grace period of the loan. Through student debt consolidation loan, instead of making multiple payments to all your lenders, there is only one debt consolidation company to whom you have to make your payments. It is the job of this company to pay off your lenders. Interest rates are lowered as the debt consolidation is a second mortgage, which has lower interest rates. Lower interest rates lead to lower monthly payments. And with only one payment, the monthly installment will be lower too. As you only have to pay a single person, all clarifications can be made through only one person instead of approaching all your lenders.

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Why People File for Bankruptcy

Studies show that loss of work is one of the most common reasons people file for bankruptcy. This is very easy to see. A family can get comfortable on two maybe even one salary. They can take on regular amount of debts, join clubs, and pay normal bills with relative ease. All of a sudden one or both spouses lose a job and a family must go from two salaries to one. Losing a job is closely tied to high medical bills. Losing a job means this family may be left without the protection of insurance that was once provided by their employer. Often times these two factors combined create an almost impossible mountain to climb without the help of bankruptcy.

Sometimes an unfortunate accident or major recently discovered illness can completely ruin a family. Many families have to make choices on allocation of bills. Often, bills that were once important become insignificant to the large medical bills acquired by a loved one. Filing Chapter 7 Bankruptcy can greatly reduce the amount of medical bills.

Some creditors do not always take the right course of action when attempting to collect a debt. Often, creditors will persistently call the home of a particular debtor with demeaning and abusive behavior. Not only is this unethical it can rise to the level of unlawful. In essence, bankruptcy will put on hold the demands of many creditors and stop the harassing phone calls and other inappropriate behavior all together.

Few Debt Management Plans

Following are few important debt management plans:

Debt consolidation loans

The most conventional method of dealing with debts is debt consolidation loans. Debt consolidation loan is essentially meant to arrange easy finance for clearing the mound of debts. A single loan is drawn after consolidating the various debts. One aspect that distinguishes debt consolidation loan from other loans is that the borrower gets help and guidance from the debt consolidation loan provider in the settlement of debts. Expert negotiation skills and a proficiency in debt settlement recommend the services of the debt consolidation loan provider in this regard.

Debt consolidation mortgage

Debt consolidation mortgage constitutes a major part of the debt management plans. A debt consolidation mortgage is basically a second mortgage. In this method, the borrower requests the mortgagee who holds the first mortgage to the home to repay his debts. In exchange, the borrower includes the debts while making the monthly repayments. The advantage of the debt management plan is that finance is available for debt consolidation at rates equivalent to a mortgage, i.e. at cheap rate of interest.

Debt consolidation through remortgage

While debt consolidation mortgage entails dealing with the same mortgage lender, debt consolidation through remortgage involves shifting to a mortgage lender who offers a better rate of interest. In this debt management plan, the borrower or the mortgagor requests the new mortgage lender to include several debts along with the unpaid amount on the original mortgage for disbursement. Again, this will help the borrower get cheaper finance for debt consolidation at the rates of a mortgage.

Ways to Pay Your Student loan easily

The negotiation with your debtors can be the next step. You can contact them directly to avail any adjustments in the repayment schedule or can switch on to a more convenient repayment plan. The repayment period has to be selected according to your capability to spare for the monthly installments. The lenders benefits and offers can be another helping hand to pay off the student loans. Now most of the lenders have put forwarded certain benefits and incentives for the loan repayments. The utilization of the relaxations in the interest rates and total debt is certainly advantageous to pay off the student debts.

If you have multiple debts, the best strategy is to consolidate the different loans to a single consolidation loan. Now, Federal consolidation loan is available, which will help to consolidate all federal loans, with certain pronounced advantages in the rates and terms of the loans. However, it will not consolidate the private loans. You have to seek any of the private consolidation loans to manage the private loans. If the multiple debts cannot be consolidated, then you have to pay off the loan with the higher interest rate. The regular follow up of such a strategy will certainly help to pay off the student loan easily.

In case of defaults in the repayment of the student loan, the rehabilitation programs of the lenders can be utilized as the way, which help to pay the student loan. In brief student loans can be compared to the common saying “slow and steady wins the race”. If you are able to start the repayment during the study using money from the vacation jobs or part time jobs, it will certainly help to pay the student loan early. Also, keep in mind that the extended repayment schedule is not advised in all cases as it will levy more money as interest. Hence a planned and intelligent strategy will be the best way to pay the student loan easily.

Avoiding Student loan Dept

A student loan is a lifetime obligation until paid, and, just like any other debt, non-payment is reported to the credit agencies. For many students this type of financial arrangement enables them to complete their education and is a necessity. Students must remember that the more people that default on these loans the less there is for others that need it. Don't let it get to the stage where you will have to default, stay in touch with your loan provider. A student loan will not be discharged, even in bankruptcy, except in a case of extreme hardship, but extreme hardship is considered as having no money except for the bare necessities to live. So, before your finances get out of control, consider student loan consolidation now and lower your monthly payments with a guaranteed low interest rate.

The moment that you land yourself the most coveted first job, do not change a thing about how you live. That is quite simply the best and most foolproof way of staying clear of a student loan debt. If you live simply and follow a frugal lifestyle you can very well keep your expenses at a minimum. It is really only for a few more years to come and you can apply all your additional savings towards your loan. Not only will you save a bundle of cash but you would also be safely rid of any loan repayment worries and burdens.

Student Loan - The Basic Facts

Students who opt for higher studies often find that they lack the required capital to fund their anticipated study program stretching perhaps to several years. Fortunately, there are many institutions that a student can turn to for assistance for financing his education program. Except in the case of grants and scholarships, all other loans taken have to be re-paid; and unfortunately this fact does not strike the borrower forcefully enough at the time of obtaining loans. The obvious reason for same is since many repayments start only on graduation; and due to a feeling of satisfaction for the time being at finding the funds to cover more and more of the direct education costs and other education related expenses.

Qualification requirements for student loans are typically based either on your income if you are an adult learner or that of your parents if you are still dependent upon them. Student loans are available to pay for university tuition and fees as well as cost of living expenses. Depending on the amount of your annual income you may be requested to make a contribution towards the cost of your university tuition and fees. The amount requested is based on income; however unless your income exceeds a certain amount it is quite possible the amount you are required to contribute will only be a fraction of the actual cost. Even if you are required to make a contribution toward the cost of your tuition and fees, that is still better than having to fund the entire cost by yourself or else forget furthering your education at all.

How to Avoid Student Credit Card Debt

Credit card companies typically employ a very sly tactic in getting college students to register new credit cards. They usually give a very low interest rate for the first year. After the first year, the interest rate will begin to increase. Fortunately, since college students are still very young, their credit cards' limits are a lot lower than their adult counterparts who are in the corporate world.

Here are few tips on avoiding credit card trap

Look for a card with the lowest fixed percentage rate and a low or no annual fee. Read the fine print carefully - many low or 0% introductory rate offers expire in 6-12 months.

Never use your credit card for a cash advance. The fees and repayment structure associated with a cash advance are outrageous.

Have a budget! Your credit card is not free money. Budget your money so that you can pay off your balance at the end of each month. If you can’t pay off the balance, always make more than just the minimum payment.

Pay your bills on time, otherwise you’ll pay a late fee between $25-40 every time your late with a payment. Late payments will also increase your chances of having your percentage rate raised on all your credit accounts.

Request a low credit limit somewhere between $700 - $1,500. The object is to have credit available to meet some of your expenses and in case of an emergency.

Student Debt Consolidation

The value of student debt consolidation loans depends on the amount and type of student debt you hold. Since student debt consolidation loans tend to reduce student debt by lowering the interest rate charged on the principal, their functionality depends on the average interest rate you’re being charged for your outstanding debt.
If your student debt consists on mainly federal student loans, you’ll hardly find a debt consolidation loan featuring lower interest rates. Federal student loans are provided by the US department of Education and thus are granted with no profitable terms. The interest rate charged is destined to cover administrative costs only.
Even if part of your student debt are federal student loans, you should leave them aside when consolidating, otherwise you’ll end up paying more interests on the principal and debt consolidation won’t be worthwhile. You can try some federal programs to consolidate government loans or at least reprogram your repayment schedule to make it be gentler on your budget.
So weigh the options well before going in for student debt consolidation to strike the correct balance between your monthly outgo and the pros and cons of your student debt consolidation program in terms of bonus as well as penalties.

Measures to Avoiding Debt

The recent economic slowdown has changed the life of many people and today they have realized the importance of saving. Now they won’t mind saving penny-wise as you never know when these savings will be helpful to get out of debt or pay your mortgage payments.

Its not that you will have to sacrifices many luxuries. You just need to follow a spending plan. It’s easy to create this spending plan. It can be a simple hand written graph listing your expenses or it can be as complex as a fancy computerized program tracking every dollar you spend through PDA and laptops.

When you follow your spending plan and keep it to the minimum necessary, you will be generating a surplus amount of money each month. You can use this surplus money to pay your debts until you are debt free.

Many of us have the bad habit of using credit cards even for ordinary purchases. The appeal of credit cards is the ability to pay later for items that you buy now. But using credit instead of cash is a bad habit, more so when you don't pay your credit card bills in full each month. Hence for your everyday purchases like groceries, gas, clothes, and entertainment, you should use cash instead of credit cards.

When you use one credit card to pay off your other cards and loan payments, you're not paying off anything actually. It’s like using debt to pay off debt because when you use debt to pay off debt, you end up in heavier debt than you were in the beginning.

Living below your means is the real secret to personal financial success. You can also use the surplus savings to build an Emergency Fund, which you can use for your children's college education or for your retirement plan.

Saving Money

The impact of economic recession is yet to fade away and most of us today are extra cautious about every penny we spend. Saving money is more than a necessity these days. While planning your saving scheme, it’s important to plan for long term basis. The saving includes making some adjustments or compromises. But basically it depends how much you can take. For instance, you can choose to drive somewhere when it is very hot and you have to use your air conditioner or you could choose to go later when it is cooler outside. There are numerous instances like this which will help you save significantly if you make wiser choices.

Saving money doesn’t mean you won’t ever buy anything even if it’s a necessity for you. But of course the rule applies to things of excess. Try to look for e-coupons or free coupons on the internet. You will find options to save a buck or two here and there in this way.

It’s wise to turn your liabilities into assets. Hence, you should look for options which can make you earn extra bucks. If you have a hobby of gardening, you can use it to take care of your vegetable and seasonal fruits needs. And if you plan to think big, your kitchen garden can make you earn some extra money.

You can’t avoid daily expenses. But you need to keep a track of what you spend every month to see how much you have improved from your last month’s expenses.

Student Loan Consolidation

If you’ve had previous or new student loans then you’ll most likely been receiving a fair share of mail about how you can consolidate your student loans. At first the loan application process will seem difficult particularly if you’ve had more than one loan with a few different lenders. However it’s a simple process and here’s a few tips on what to expect when you decide to consolidate your student loans.

Consolidate Student Loans Step 1

Select a good lender with a well established financial institute. You can tell if they are well established because the have a verity of student loans plans and discount schemes. If you consolidate your student loans with a good lender they will be less likely to sell your loan to another lender in the future.

You should not have to pay a fee or any charges when you consolidate your student loans and there is no need for a credit check because “Federal Student Loans” are guaranteed by the American government.

Step 2

You’ll need to fill out your application form and make sure you have all necessary information about any of your student loans. The application form requires a personal reference so make sure you have one. Last but not leat you’ll have to sign the form but before you do read the fine print (terms & conditions) and ask about the incentives and discounts that come with the loan. Most lenders who consolidate student loans will have a calculator so you know what your repayments will be.

Step 3

Once you’ve sign and posted your consolidate student loan application your new lender will send all your previous lenders a “Loan Verification Certificate” to verify the total amount of your previous student loan. It should take around 30 days to return the loan verification certificates. Interest rates will be finalised along with the disclosure statements.

How to Save Money on Gas?

Get a gas membership card. Look for membership benefits. In addition, department and grocery stores give discounts at the fuel pump when you use their store membership cards.

Give your car a good tune up. While giving your car a tune up won’t actually save you money at the pump, it will save you in gas. Using less gas saves you money over all. Have the oil changed, and have a certified mechanic give your engine a twice over.

Buy a hybrid car. Not only do hybrid cars give you immediate savings at the pump, the government and your local state offer tax breaks for people that use gas saving cars. Federal deductions for using gas saving cars can be as high as $2000. If you can’t afford the growing number of hybrid cars out there, consider getting a regular car with good MPG (miles per gallon).

Turn off the AC. Running the car’s air conditioning puts extra strain on your car’s engine. This translates into your car eating up more gas per mile. Use less gas, save money. Depending on the car you drive, at highway speeds, the AC might put less drag on your car than if all the windows are open. Therefore, you might want to keep it cool on the highway.

Simple ways to save money

Here are few simple measures to save money from your day to day basic expenses.

Telephone

Check phone bills a few times a year, reviewing calls and costs from at least three months before. Take note of the rate of local, long distance and international calls, and compare them to new packages and offers from other providers.

Credit Cards

Switch to a card with a low annual percentage rate (APR) and get rid of excess cards, keeping the two you use most, or pay with cheque, cash or debit card at the till. Reduce fees by avoiding late payments , staying within your credit limit and save hundreds of pounds a year by paying a credit card balance by its monthly due date.

New Cars

Save hundreds on new car purchases by selecting one with low maintenance, petrol and repair costs, and researching low financing and insurance rates for that car. Checking quotes with at least four dealers, letting them know you're contacting other sellers, will give you a clear idea of the actual cost.

Car Rental

Shopping around is a great tool to compare the prices each car rental agency offers, and can save you quite a lot on basic rates. Always ask the agent about any additional charges before booking, and be sure to inquire about special offers the company might be running.

Petrol

Compare the prices of petrol at many stations. Keeping a well tuned engine and properly inflated tires at the proper pressure could snag you an extra £20 at the end of the year.

Airline Fares

Flexibility is key to saving a bundle on air travel; buying in advance, using low fare carriers and taking trips with Saturday evening stay-overs can bring the cost of your flight down by as much as two- thirds!

Saving Money for Future

Many people have never been taught to save and as children, immediately spent the money they received without any forethought. You often hear people say, “Life is short, if you want something buy it now”, but thankfully for most of us life is not really so short and along the way we will have to deal with both opportunities and challenges. Having some money saved will help you make the most of the opportunities and ride the challenges.

If you could save 20 percent of your salary each month, imagine what that would mean in real financial terms. For example, if you earn 2000 pounds per month and you saved 20 percent or 400 pounds out of every pay cheque, after 12 months you will have saved 4800 pounds! Regularly saving this amount of money would give you the financial freedom to take advantage of more of life’s opportunities. You could plan the special holiday you have always wanted to go on, buy the car that you have been dreaming about for years, or help put a child through college.

As we have already seen, knowing exactly where your money is going is the starting point. Next, start thinking about the big things you could achieve with some money in the bank. Some people compensate themselves for not having what they really want, by making many frequent small purchases and getting a temporary “feel good” sensation afterwards. Rather than satisfying yourself with small purchases, such as new clothes and CDs every week or always buying the latest mobile phone, think about how much more satisfying it would be to save up and buy or do something special, which you previously thought was out of your reach, but is achievable with a little effort.

Tips on How to Save Money When Buying College Books

College students are often surprised by the amount they have to pay for collage books each semester. If you add it up over the course of the year it can prove to be a very expensive part of your collage education. But there are ways to save money when you buy your college books, and here are a few tips on how you can do that.

First of all, recognize that the most expensive option that you will have for buying your college books is to buy them at the school bookstore. Traditionally, university and college bookstores mark up the prices on their college books by quite a bit more than you will find almost anywhere else.

There are advantages to buying from a university bookstore however, including the convenience and time saving factors. All you have to do is just visit your campus, go to the bookstore, get your books and pay your money.

A second option for buying your college books is to get them from an off campus bookstore instead. The advantages in using this kind of bookstore is that you can usually save money on the price of new college books, and they usually have a better selection of used books as well.

However, the best way to save lots of money on college books is to buy them online at the Amazon or Ebay websites. Here is where you can get your best deals on both new and used college books anywhere. Many students that have taken the course that you will be taking, will be putting their college textbook up online for sale at a greatly reduced price.

Student debt and the role of Credit Card

As a student, your most common types of debt are student loans and consumer accounts, better known as credit card debt. These debts are handled differently when it comes to getting debt help. Credit card debt must be repaid in full for it not to have a serious negative effect on your credit.

Students should be aware of the fact that credit cards geared towards students often come with high interest rates and many unfavorable terms. This is largely due to high default rates among students than among other age groups. Another reason for the high rates is that students usually have limited credit histories. A point to note for the students is that the credit card should not be considered as a source of income. Even though students have good intentions of paying off their bills in a timely manner after they enter the workforce, such intentions are never realized. Most often, students lack money managing skills which hit them hard when they use their cards to the maximum limit. Some of the credit cards issuers do not require parental approval for issuing credit cards to students. This leads to further mismanagement of money by the students as they are given access to a credit card with pretty high credit limits, which they assume to be their money and spend on various things. Debit cards are good alternatives for college students

Save Money by shopping online

Following are the some of the benefits of shopping online.

Price range: The price is normally low due to the heavy competition that prevails in the online industry. Cheap online shopping is very much possible which attracts millions of people to sit in front of the system to purchase the products. The fact is that you are doing away with intermediary dealers that will reduce the cost a bit.

Research capabilities. The Internet allows you to easily compare products and prices, so you can be sure that the item you purchase is the exact item you want. Online merchants can publish much more information about their product on a website than they could affordably publish in a print catalog. And online stores give you the ability to share information and reviews with other shoppers who have firsthand experience with a product or retailer. As Internet connection speeds continue to increase for larger segments of the population, these types of interactive features will become even more important. Zappos.com, a leading shoe retailer, for example, allows you to view most shoes from as many as eight different angles, including a close up.

Increased selection. Warehousing logistics can be much simpler for an online retailer, and many of the online superstores have a staggering inventory to choose from. Plus, as a consumer, you can avoid the inconvenience of physically traveling among online stores to comparison shop. A simple online search can lead you to the right product at the right price, fast.

Time saving: Online shopping is quite convenient and time saving. The fact that everything and anything that you might need is available online, it makes the entire experience of online shopping desirable and time saving.

How to Save Money on your grocery bill

Saving money and being more frugal is neither a science nor an art; rather it is somewhere in between and requires your commitment and hard work. Saving money takes time to develop, needs to be learnt, and brings benefits that will endure for the rest of your life.

What you save falls between two activities and their difference, how much you make and how much you spend. Since you have more control over how much you spend, it's wise to take a critical look at your expenses. Write down everything you spend your money on for a couple weeks or a month. Be as detailed as possible, and try not to leave out small purchases. Assign each purchase or expenditure a category such as: Rent, Car insurance, Car payments, Phone Bill, Cable Bill, Utilities, Gas, Food, Entertainment, etc.

Eat seasonal fruits and vegetables as they are low in cost and taste better than cold storage out-of-season food items. They also provide variety in your meals throughout the year. During season, when items are available in bulk, you can even freeze items, such as peas and carrots slices, and use them later. Seasonal fruits and vegetables can also be used to make juices, soups, jams, ice creams, and chutneys.

Storing grocery, vegetables and fruits properly will keep them fresh longer. Coriander, mint celery, lettuce and other greens can be wrapped in newspaper or brown paper and stored in your fridge for a longer time. If you remove the stems of green chilies, they stay fresh for a longer time. Food items, such as dry fruits last longer if stored in the refrigerator.

Some Key Facts to Know About College Student Loans

The basis of funds for a college loan does not modify the potential of the student who is awarded that loan. Every lender of a college student loan has certain obligations.

A person who is awarded one of these student loans should also be provided with information about the balance owing on the loan and the payment options.

Rights of Students Awarded One of the College Student Loans

A student who struggles to make payments on a student loan has a right to defer payments for a defined period.

A student who feels unable to fully repay a loan might qualify for forbearance on that loan. College student loans give qualified students the right to request such forbearance.

Obligations of Students receiving one of the College Student Loans

While any student can request deferment on a loan, or forbearance on a loan, the student making that request cannot assume that it is granted.

The student must continue making payments on his or her college loan. Moreover, the student must keep the lender informed of any changes to his or her vital information.

A student can maintain a decent credit score if he/she fulfills all the above-mentioned obligations. Such a student has clearly shown a willingness to act "in good faith" towards the lender of the loan money.

Cannot pay Your Student loan? – Some Helpful Tips

The first thing that you can do is apply for deference if you don't think you can make a payment. You can defer payments for a variety of reasons, but the most common is the grace period after college, or deferring payments while in college. You can also defer payments due to lack of a job, or a sudden change in available income. You still have the interest accruing, but you don't have to make any payments during the time you are deferring your bills.

Deferment can be classified into four categories

(a) In school deferment

(b)Unemployed deferment

(c)Unemployed deferment

(d)Economic Hardship Deferment:

Forbearance Student Loan

This is an excellent option that you should strongly consider. Nearly all lenders will offer this option as they don't want you to default on the loan.

The terms allow a variety of ways to help you ease the burden of paying off your loan. The options include; a temporary stop on your repayments, a pay interest only agreement, or a payment amount that is less than the normal repayment amount. A Forbearance loan is not as good as a deferment loan as you will still need to pay the interest amount back unlike a Stafford loan where the government pays the interest for you.

You can also request that you have an income based payment. This is a payment that allows you to only pay a certain amount of your income on your student loans. This is usually somewhere around 10-15 percent of your income depending on how much you make. This is available on all federal loans that might be taken out.

Debt Counseling to Avoid Debt

Many people are not aware of the actual operation of their credit card. The unawareness results in many people accumulating debts that are far more than what they can afford to pay. Surveys show that almost 75% of credit card holders are not aware of their balances, not even the amount they are paying off monthly. The point here is that paying the minimum balance on your credit card will not get you any farther. It may lessen your actual balance but may only aggravate the situation because of the time it will take you to finish everything off.

Debt counselors can provide you completes details on money management. Here, they teach you how to manage your expenses and your credit card bills. Debt counseling programs will teach you how to be aware of your credit card billing statements every month. In this way, you get to be conscious of your expenses and on your available credit limit. The key is not to exceed your credit limit so as not to accumulate debts.

The problem with most consumers who are heavily in debt is that they are not aware of their monthly expenditures, thus, tending to cross over the specified credit limit.

Debt counseling will teach you not to use you credit cards when paying for your basic necessities like gasoline and groceries. These items are so basic that you should have included them in your monthly budget. Acquiring such items on credit will probably entice you to get more than what your budget allows.

How to save money when shopping for groceries

Here are few ideas on saving money while shopping for groceries

Don't be brand loyal use different brands. You don't have to buy generic either. We almost exclusively buy brand names. Buying a particular brand on one or two items is fine. To save the most, get the best deal on the majority of the items bought.

Check expiration dates. Some sale items have dates soon to expire. It isn't a good deal if the date goes out before it can be used.

Don't buy something you don't normally use just because you have a coupon. Using coupons wisely saves money. If you can't or won't use the item, it's not a deal no matter what the price. Some coupons are for new food items. You won't know the "normal or sale" price on these items because they are new.

Match your weekly menu to reflect what's in season and what's in your pantry. If you have to go back to the grocery to get one more item, you'll more likely to buy at a higher price. If it's out of season it will cost more.

Don't buy convenience foods unnecessarily. Convenience costs more. I would never suggest forgoing use of convenience foods. However buying fewer or buying only on sale will save a lot of money. Consider learning how to create your own convenience foods. Many sites have recipes for such food items.

Getting a Student Debt Consolidation Loan

Student debt consolidation loan means having the multiple student loans replaced with a single loan with a lower monthly payment scheme to be paid over a longer repayment period. Though a student debt consolidation loan is beneficial, it is important to know its pros and cons before signing up for one. The huge students’ loans have an impact on your future decisions and on your credit history.

There are many types of student loans, but the most common student loans are the private and federal loans. It is not advisable to go in for student debt consolidation loan by mixing these two loans together. Instead, it is better to consolidate the federal student loans and then the private loans, separately. This is because when consolidating both these kinds of loans, the federal loan benefits will all be lost.

However, the private student loans are more lenient in their requirements for debt consolidation. There are not that many rules to follow if you choose for student loan debt consolidation. However, you may have to pay a little more as your monthly installments here because of increased interest rates. So once you opt for student loan debt consolidation, you are rid of the headache of making numerous payments every month. With student loan debt consolidation, you have to only pay a single payment. Moreover, this amount is usually lower than the installments you had to pay for all your loans clubbed together.

Some Key Fact to Know About the College Student Loans

The resource of funds for a college loan does not change the expectations of the student who is awarded that loan. Every lender of a college student loan has certain obligations.

Every lender of such a loan needs to supply the borrower with certain information. For example, anyone who receives one of the college based student loans should receive a detailed repayment schedule.

A person who is awarded one of these student loans should also be provided with information about the balance owing on the loan and the payment options. Once the borrower has paid the loan in full, then he or she should get written confirmation of that fact.

A student provided with money through a college student loan should look into the possibility of getting a graduated payment schedule. Some private lenders of college student loans allow or early repayment of that loan, without charging a prepayment penalty.

While any student can request deferment on a loan, or forbearance on a loan, the student making that request cannot assume that it is granted. The student must continue making payments on his or her college loan. Moreover, the student must keep the lender informed of any changes to his or her vital information.

A student can maintain a reputable credit score if he or she fulfills all the above-mentioned obligations.

Are You Confused for Student Loan Repayments?

Once graduation completed and grace period starts you should begin searching for a job. If you have obtained student loans during your college studies, grace period will be the best time for you to choose a Student Loan Repayment. It is important not to panic about paying back the debt you owe. It is important that by using a trustable student loan payment calculator you will be able to find the best repayment plan available to work with.

The student loan repayment plans available are designed to help students to repay their loans in the most flexible way possible, on a case to case basis. The followings are the most popular types of loans.

Level / Standard Repayment Plan

Graduated Repayment Plan

Income Sensitive Repayment Plan

Extended Repayment Plan

As understood you should choose a repayment plan based on your financial capabilities.

The other thing is that consolidating student loan debts is wise for any student that has obtained more than 1 student loan and owes more than $7,500 in total. Student loan consolidation programs help you reduce the interest you are supposed to pay and help you get a fixed rate. It is always clever to compare a few offers from at least 3 different lenders before consolidating loans or applying for one.

Some Tips Regarding Student Loan Consolidation

You have invested a lot of time into college, and now you have graduated. You now have an opportunity to put all that learning into practice. But, what about the student loan? Today, student loan consolidation is becoming more and more necessary. Read some tips for student loan consolidation given below.

By consolidating a student loan, you basically put all of the separate loans into one big loan. This in effect makes it possible to get better rates. This is so, because more you borrow, the less interest you have to pay.

There are benefits and negatives when you consolidate a loan.

Below we have mentioned some of these benefits and negatives are:

Benefits:
1. If you have several federal student loans, you can get a better rate by putting them into one student consolidation loan.

2. It is a big benefit of student loan consolidation is that it is easier to manage. Student loans that come at various times in the month can really cause havoc on your finances. Having a repayment date for one loan makes life easier.

Negatives:

1. The problem with the time thing is that if before you found it easy to deal with small amounts of loans that is spread out, one big loan may not help you.

2. Secondly student loan consolidation is not available to everyone. So if you have less student debt, then you may not be able to consolidate your student loan.

So you have to do is to do some research regarding this before choosing one particular student loan consolidation program.

How to Save Money – 20 ways

Saving money is at the heart of all of your financial goals. Want to get out of debt? Want to save for retirement? Want to just make ends meet each month? Here are 20 ways to save money.

Computer Screen savers does not reduce energy consumption. Automatic switching to sleep mode or hibernate is better.

Consider buying a laptop. They use less energy than desktop computers.

Consider buying LCD monitor. They use less energy than CRT monitor.

Stop renting the cable modem. You can buy a cable modem for cheaper cost in the future.

Plug your computer and other electronic into a good UPS. So can save money by not buying a new circuit board that is fried.

Use open source software like Linux Operating System and Open Office.

Upgrade an existing PC rather than buying a new one. Usually it is cheaper to upgrade. But if your computer is very old, you need to buy a new one.

Use low energy light bulbs, compact fluorescent light bulbs.

Clean your AC air filters. A dirty air filter reduces airflow, causing it to work harder and use more energy.

Look dishwasher for the ENERGY STAR label that uses less water and less energy.

Defrost freezers. Frost buildup decreases the energy efficiency of the unit.

Go to work by using bus, or maybe riding a bike.

Check your engine and tire pressure. Having unequal pressure can greatly affect the car's fuel economy.

Avoid rush hour traffic as much as possible. Stopping in traffic can burn up lots of gas.

Drive at constant speed to save gas.

Use the correct grade of the oil which tells about the viscosity. If you use the wrong grade, you may increase the friction in your engine, and uses more gas.

Information about Student Loans

You have seen that for many students, the dream of getting a higher education just isn’t possible without the financial aid of a student loan. Fortunately, there are many opportunities out there to apply for and receive a student loan and also give you all the knowledge you need to choose the best student loan for you. Below is some information I have given on regarding information about student loans.

There are two types of sources for getting student loans generally such as: the federal government and private financial institutions, such as banks. Both require repayment of the loan, but that’s where the similarities end. Let’s take a look at both federal and private student loans.

1. Federal student loans are sponsored by the government and account for the biggest chunk of educational loans.

Federal loan programs mainly contain the parts as: The Perkins Loan, The Stafford Loan, and The Parent Loan for Undergraduate Students, also known as PLUS.

A big advantage of this type of student loan is that it covers any remaining balance not covered by other forms of aid – in essence the loan limit covers your entire educational expense.

2. Second type is private financial institutions such as Banks. This is a loan from a financial institution that takes into account your creditworthiness, not your need for aid. Your credit is reviewed by lenders and if approved, you can get a substantial size student loan in minutes.
As I have mentioned above, you have several choices when it comes to student loans. Make sure that you choose the best option getting informed on these choices, and picking to student loan that best fits your needs.

Great Ways to Student Debt Recovery

So you are studying on student finance schemes & about to leave your college. You might be getting worried over how to pay for the student debt you owed as soon as completing your education. It is not your problem alone as great many students face the same dilemma after their education gets over. Here are given a few words of suggestion & tips that will prove useful in paying off debt thereby leading to complete student debt recovery.

Consider Saving Money
At the first instance the idea of saving money sounds attractive but it is not easy enough. More than that such money saving idea never strikes any student’s mind. Even if you’re in college or recently completed your education you can get a lower paying job or seek employment on a part-time basis in your locality so that you would be in a position to pay off your student debt installments with your paycheck.
Understand the Financial Aid Process
Take time off to honestly analyze your financial situation while you're still in college, or have recently graduated. Some sort of financial aid always contributes to majority of student debt comes from some sort of financial aid. By apprehending your financial status, you can make an organized payment plan. You can consult with your financial advisor if you’re on a financial aid.
Be Responsible & Stop Throwing away Money
Not all student debt is a result of taking out money to aid in the education process. Many students find themselves in debt due to irresponsibility. If you're caught up in the “college life” and you're throwing dollars around every chance you get, stop and think about the debt burden you owe.
Recover from Student Debt
By following the above mentioned steps like saving money, understanding your personal financial situation, and avoiding money overspending, debt recovery can be achieved easily.

Student Loans for Unemployed Students

Student loans are usually given at a low interest rate as it is strictly meant for education purpose. Students normally take the student loan for a particular time period and amount depending upon their specific requirement. They take only that much amount that they would be practically able to pay back. Student loans can also supplement scholarships, grants and personal savings.
There are broadly four types of student loans depending on their source:
1. Government Student Loans – Government student loans are issued by the Department of Education and are granted directly to the students. The students need to repay the loan with interest only after their studies get over. The government student loans usually give students a low interest rate. The amount of money a student can borrow is usually decided by the lender.
2. Parent Student Loans – Parent student loans are issued to the parents of dependent students. Here the parent is liable to make the repayments on completion of his/her child's study.
3. Private Student Loans – Private Student Loans are generally issued by private institutions like banks, lenders, etc. Like other student loans types, they finance the studies of the student by granting a loan, which is to be repaid on completion of the studies. Here rate of interest is found higher than the government student loans.
4. Other Loans - Other sources of student loans could be something like a home equity loan, which offers tax benefits.
The interest rate varies on the basis of secured or unsecured loans. For the secured loans interest rate is usually low and it is taken by a parent and family house is used as security. While in unsecured loans interest rate is slightly high.

Ongoing Effort to Save Student Loans in US

As the economy enters into a deep recession phase, the global financial market is feeling the heat inclusive of the education financing sector. Student loans have become beyond the rich of everybody as anybody can hardly pay for the more than tripled price hike in the premiums available on bonds in the last one year. It somehow encourages loan investors to look out for safest assets that can return value for their investment.
As one solution to the problem, the Treasury Department in US plans to create a conduit to buy existing and new student loans from banks. To support this endeavor, the conduit will then issue asset-backed commercial paper.
During the economic crisis, the student financing market has been in turmoil. Since May, the Education Department has been lending money to banks and buying up student loans. This initiative has helped with some of the securities, but lenders have been unable to refinance the older loans.

The Treasury Department in US has taken a bold new step in an attempt to give away investor’s fear & give them reassurance that the securities that are backed by student loans will remain liquid. Once this new conduit begins functioning smoothly, it's anticipated that the Education Department's efforts, which were originally planned to be temporary, will cease.

The Education Department's program was helpful, but rather limited. It was only extended to lenders with cash on hand. Under the new arrangement, when the conduit purchases old loans, many of the lenders who had been forced out of the action will be able to return.
The previous student loans management program as run by the Education Department was useful but rather restricted. It was only aimed at to extend support to lenders with cash only. Under the new provision, when loans will be purchased by the conduit, most of the lenders who had been out of action for quite some time can get back to work further.

Consider over Reasons for Avoiding Debt Negotiators

The debt-settlement companies or debt negotiators usually engage in deceptive marketing practices and do little or nothing to improve consumers’ financial impending. Following tips will help you avoid such debt negotiators & manage your borrowing in a successful manner.

There are very few debt settlement negotiators out there that are reliable enough. They charge astronomical fees which could go towards paying creditors or in some cases an attorney.

Most of the debt settlement companies prefer to advertise themselves as "law firms" & not non profit organizations because the FTC (Federal Trade Commission) has been going after these people. They are actually profit based organizations who keep debtors guessing as to where their money is going & never provide them with the credit counseling they claim for.

What these companies do is suck you in with millions of dollars in advertising and promise you so many things they can not usually do such as:

1. To get your creditors to forgive, stop, lower or delete interest, over limit and late charges which is quite impossible unless you enter into a settlement with your creditors for a hefty amount or they offer you concession as available in severe hardship conditions.

2. That they can get lawsuits stopped. Some of these companies will send really nasty threatening letters to the creditor’s attorneys trying to "bully" them into stopping or dismissing a lawsuit and the chances of that are very slim to none.

3. When they promise to settle your debts for "pennies on the dollar" Well, this is not impossible but highly unlikely. They might get your debts settled for .50 on the dollar at BEST, but why pay a company 100's SOMETIMES 1000's of dollars to do the SAME thing you could have done by hiring out a local attorney who almost charges the same.

How to Get out of Debt? - Learn The Tricks!

At one point in my life I was under heavy debt. So I know how it feels when your phone won’t get any respite from answering creditors’ umpteenth number of calls. You make excuses to pay by this day which again gets postponed to some other day. I had a hard time during that period. But somehow I was able to overcome that obstacle. Since the tips worked for me, I feel that can work for any of you under debt. If you are spending sleepless nights spent by getting worried about how to come out of your debt, then the following tips are just for you!

Make a list of your debt amount

It might sound weird, but often we get a momentary respite after paying one debtor just to realize that we have someone else to pay too. So the purpose of making a list is to get all of your debts in one place as well as some of the interest rate that goes along with it.

Starting working on your debt

Instead of getting worried, it’s worth trying to find out ways to get rid of your debts. If you have to worry about your debt, set aside 30 minutes every day for worrying, and schedule the next 30 minutes to actually work on getting out of debt.

Schedule one day to pay bills

Set aside one day every month where you just focus on paying all your bills and taking care of everything. Again, this will allow you to spend a lot more of your time focusing on fixing the problem and earning more money as opposed to worrying about the logistics of how to get out of debt.

Advice on How to Avoid Debt

Thanks to the expansion of the credit economy, most of us are now buried under in one way or the other. Some of the most commonly considered debts are credit card debt, house loans debt, and student debt. Debt situation gets worse when you are unable to pay off the debt in time and the interest rate keeps on mounting. After certain time duration, the debt amount becomes so high that it’s almost tough to pay it off. At that time legal action can also be taken against you.

So to avoid such extreme condition, it’s very important to start paying for your debt early. In case of any delay, contact your creditors and intimate them about any late payments. It is also important to record all payments that have been made and also the future payments that are to be made. To make things simpler, all documents and accounts should be organized, and a budget that you can stick to should be made when dealing with your debts.

Consulting an expert would be the best option, if you have any kind of debt issues in reference to your local area. Some usual areas consist of credit card debt, bank loans, property loans, college loans and rental debts. The essential point to understand here is that you can easily find support for any kind of debt issues, and that you are not alone in these kinds of situations. All you need is a right suggestion to go ahead and solve the debt issue.

How to Get a Waiver on Student Debt?

Student loans take care of most of our educational expenses during our tenure as students. But usually after six months from graduation you need to start repaying your government student loans. You can stretch the time period to an additional six months period but not more than that. But you can get a partial waiver or a full pardon of your debt payments provided you meet certain requirements. But for that you need to have a thorough idea about the kind of student debt that can be waived. It’s because all student debt can not be waived.
Only government student loans and certain private subsidized student loans can be waived. There are circumstances under which the government has reasons to partially or totally overlook student debt. The idea is that the borrower compensates the forgiveness by providing certain services that are otherwise hard for the government to get. Private student loans can be renegotiated, consolidated but not waived completely. Thus, you need to analyze how is your debt composed in order to see if you can benefit from a student loan waive or you should resort to other debt reduction and elimination means.
Once your education is completed, you can start your working on your choice of profession. There are certain careers that will provide you with this benefit as the government needs those professionals working on specific places. Among these professions you’ll find: members of the armed forces, teachers working fulltime on certain districts, special education teachers, etc. which will help you to access the debt waiver. Those of you have gone through law school, if you undertake a law enforcement job as a prosecuting solicitor or work in correctional offices, you’ll be eligible for a partial or full waiver on your student debt.

Consolidate Student Loans: - Is It a Good Option?

Many of you might be wondering if consolidated student loan is a good option or not? Well, Student loan consolidation is a great way to reduce the debt especially when you have finished your studies but yet to get into a job. With education getting expensive, most students have no other way than to rely on student loans to take care of their educational expenses. But things get worse when they fail to payoff the debt. The interest rates keep on increasing which makes the matter even worse.

The principal of the loan will not be affected in consolidate student loans, but students can lock in the interest rates to a fixed rate so as to reduce their monthly payments and make it substantially better. In this way, you can reduce your monthly payments by up to 40 percent. In addition to this, you can also stretch out your payment time to decrease your monthly payment amount even further.

Consolidate student loans are similar to housing refinancing loan scheme in many aspects. However, for consolidate loans, during the initial six month grace period; you must start making your payments right away. Otherwise it might be difficult especially in the cases where you are still jobless even after completing your graduation. Although you can wait until just before the grace period ends to consolidate and still receive the lower rates. Only hitch about consolidated loan is that once you have consolidated your student loans, you can’t un-consolidate them again under any circumstances. Hence, it’s recommended to consider your choice carefully before opting foe consolidated student loans.

All about Student Loans

Today quality education comes with a price tag. Right from the school days, parents find it hard to meet the various educational costs. That’s why students in colleges prefer to take help of student loans to fund their education. In fact student loans are the most preferable options for many students pursuing higher studies in undergraduate, graduate, medical, law or research oriented courses.

Student loans basically take care of all the fees like tuition fees, dormitory fees, canteen fees, and library fees and in addition they are also used to buy computers, books and other educational materials. Of the three types of loans, federal student loans allow the students to obtain loans in comparatively lower interest rate. The interest rate can even be lower than the national interest rate can also be consolidated after the student graduates, thus allowing the student loan repayment plan a bit longer time. But there are several federal forms to be submitted while applying for loans.

But in private student loans, there are no federal forms to be filled. But students have to submit their credit histories. However, the interest rate here are a bit expensive than federal loans. In parents’ loans, parents apply to encompass any additional cost for their child's financial aid which is not covered under general student loans. The interest rate is fixed in such loans.

Student Debt: - An Issue to be Considered Seriously

Many people take student loans for granted and don’t bother to pay it off in time. They feel student debts can hardly put them in bankruptcy condition. Although it can’t but it can certainly put you in bad credit situation. If you don't pay off your debts, this bad credit can haunt you the rest of your life. Bad credit report means no new car, no new home, and virtually no hope of ever borrowing money from creditors again which is a pretty serious matter. Hence if you have taken the debt situation lightly until now, it’s high time to take it seriously.

Ignoring your student debts won't make the debts go away. Rather the debts will worsen your credit score and your selected best rate credit application will get rejected. Even if you manage to get a credit, you will have to pay more for high interest rate and generally you won't be able to enjoy the best option. In addition, delaying the payment could generate more substantial costs in the form of interest and penalties. These costs will be added to your existing debts to make the burden of debts even higher.

There are various ways to handle your debts. Consolidation loan package at the best interest rate will meet your finance needs. By consolidating all student debts under your selected consolidation loan, you could save some money in term of interest rate and it makes easy for you to handle one loan repayment instead of multiple debt payment. Debt consolidation agencies are another option to handle student debts.

Student debts are no jokes, hence take it seriously and get rid of it with your best efforts.

Student Debt: - Can they be Re-consolidated?

Can student debt be re-consolidated? This is quite a discussion topic these days. But unfortunately, there is no unanimous answer to this question. Considering the flexibility of financial market, re-consolidation might not be a rule but certainly an exception.

Student debt reconsolidation depend a great extent on the type of student debt you have. For federal student loans, re-consolidation is possible but only once with a few exceptions. But for private student debt, there is no restriction on how many times you can consolidate your debt. However, if your objective is to obtain better interest rates or to reduce your monthly payments, then you will experience more limitations even with private student debt.

There are certain circumstances where federal student debt can be re-consolidated more than once. For instance, if you have obtained an additional federal student loan only after any of your earlier student debt consolidation was completed, then you will be able to add the new federal student loan to the previous consolidated federal student debt loan and consolidate it once again.

If for some reason you had to leave a previous loan out of the student debt re-consolidation process but you want to include it later, then you can consolidate your student debt once again by combining the outstanding consolidated student debt loan with the previous unconsolidated federal student loan. However, this is not a common scenario and occurs rarely.