Released on = March 20, 2007, 3:02 am

Press Release Author = Niaz Cannoth

Industry = Financial

Press Release Summary = Short and Long of Student Loan Consolidation

Press Release Body =
FOR IMMEDIATE RELEASE
20/03/2007

Student Loan Consolidation- The Long and Short of Consolidation Plan By Kelly Kilanski

From The Desk of Niaz Cannoth

Sydney, NSW, Australia - 20/03/2007

For a long time I was looking for good articles on Student Loan Debt and how to
consolidate those kind of Loans which are most often a big burden to any given
student. I was doing some research over the internet and found Kelly Kilanski\'s
fantastic articles.

Kelly Kilanski states that with tuition increasing at a rate greater than the cost
of living, college students are depending more and more on student loans to help
with the costs of higher education. Over the course of four or five years or longer
in the case of graduate students, this adds up to many loans. Whether the loans are
from the same lender or program or from different lenders and programs, most student
loans can be consolidated under the Federal Direct Consolidation Loan. Consolidating
your student loans can occur at any time after you take out your first student loan.
The benefits, at least at the moment, are that you only pay one lender and there are
several repayment plans to accommodate your financial situation.
I found this article at

Some of the repayment plans he recommends are as follows-
Federal Student Loan Consolidation Plans
There are 4 consolidation loan repayment plans with fixed interest rates to choose
from:
Standard Repayment Plan:
The Standard repayment plan takes the shortest amount of time to repay. The interest
is fixed and the monthly payments are fixed at a minimum of $50 for a maximum of 10
years.
Extended Repayment Plan:
Under this plan the borrower pays fixed monthly payments that are less than the
Standard plan. The repayment period can range anywhere from 12 to 30 years depending
on the total amount borrowed. While the monthly payments are less, the total amount
repaid is greater than the Standard plan because more interest accrues.
Graduated Repayment Plan:
Another option that might work well for those who expect their income to increase
gradually over time is the Graduated Repayment Plan. Rather than a fixed monthly
payment for the duration of repayment, monthly payments increase every two years.
Similar to the extended plan, the repayment period varies from 12 to 30 years
depending on the total amount borrowed
*Income Contingent Repayment Plan (ICR):
The Income Contingent Plan is more flexible than the other 3 plans because it
considers the borrower\'s adjusted gross income, family size and the total amount
borrowed when calculating monthly payments. The repayment period is a maximum of 25
years. Any unpaid portion of the loan at that time is discharged, but taxes must be
paid on the discharged amount.
When choosing a plan, consider your financial situation and what it might look like
in the future. Paying off your student loans sooner may be the best option for you,
but you may have other financial considerations to make and need to keep more of
your hard earned money for your current living expenses. Whatever the case may be,
look at each plan carefully and consider how it will affect you now and in the
future.

Email: linkdomain@gmail.com . Other helpful
information can be found at:

For More Information Contact:
Niaz Cannoth
linkdomain@gmail.com



Web Site = http://www.debtpayoffloan.com

Contact Details = Niaz Cannoth
60 Tambaroora Cr Marayong
Sydney , 2148
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+61404161940
linkdomain@gmail.com
http://www.debtpayoffloan.com