New York, NY (PRWEB) October 26, 2011
With the expiration of the private student loan deferment period approaching, many May graduates should consider their eligibility for a Cedar Education Private Student Loan Consolidation. In order to make the parameters for Cedar Ed’s Private Student Loan Consolidations as clear as possible, please review the enumerated tips as follows:
1) The borrower is a recent graduate (within the last 5 years) from an approved school (see our application page for more details).
2) Recent undergraduates should consider consolidating between $7,500- $100,000 in private student loans and up to $150,000 for graduate students.
3) The borrower and/or cosigner is a U.S. Citizen or U.S. Permanent Resident
4) The borrower has satisfactory credit and a minimum annual income equal to the loan amount or must apply with a creditworthy cosigner
5) Be sure to have all of the loan details handy. The borrower will need to know loan amounts and lender details.
Federal student loans cannot be consolidated with a Cedar Ed Private Student Loan Consolidation. For more information about a federal student loan consolidation, more details about the process can be found here: http://www.loanconsolidation.ed.gov/
Cedar Ed will soon be announcing a Private Student Loan Consolidation Calculator for applicants to estimate the cost savings and potential monthly payments of a consolidation loan to determine whether or not consolidation is right for you. The calculator uses the borrowers remaining loan balances and existing monthly payments to determine the impact of a consolidation loan on their monthly finances.
Get serious about your post education finances. Visit is us at: http://www.cedaredlending.com
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