|
You may want to consolidate your student loans but there are certain qualifications you’ll need to meet depending on what type of student loans you have and which company you’re trying to get the student loans from. Keep in mind that if you have federal student loans but you want student loan consolidation from a private lender, your chances could be slim since many private lenders don’t consolidate federal loans. Here are some tips on qualifying for student loan consolidation. If you choose to consolidate your student loans with a loan consolidation service, there are some things you’ll need to qualify for student loan consolidation. Most loan consolidation companies want you to present an asset in order to qualify for the loan, because this helps them recover their debts if you fail to repay the consolidation loan. The asset doesn’t have to be a car or house but instead, your computer or a piece of furniture. The loan consolidation may also ask for proof of income because they want to know if you’ll be able to make timely payments. Citibank is one of the best-liked places for student loan consolidation based on customer reviews, and if you have federal student loans Citibank lets you bundle those loans into one loan where you pay a certain amount each month with a low interest rate. You must have at least $20,000 in student loan debts and your loans can’t be in default. If you choose to get student loan consolidation through your lender if you only have private student loans, call your lender near the end of the grace period and discuss your interest in consolidating your student loans. Gibe the lender information on your student loans and any other information the lender requires. The loan application may last a few weeks before you’re approved of the loan. Because most private lenders require a good credit history, you should get a copy of your credit report from these credit bureaus; TransUnion, Equifax, and Experian. Look through your credit report and if you see any errors you should write letters to the bureaus stating that you paid certain debts and include copies of receipts proving the claim. Also pay down the debts that have a low balance so you’ll increase your chances of student loan consolidation. In conclusion, it’s not very hard to get a student loan consolidation if you know where to look and which companies offer the best interest rates and the most affordable monthly payments. Are you looking for more information on student loan consolidation? Visit http://studentloanconsolidations.org/ today!
Related Articles -
student, loan, consolidation,
| 
