New York, NY (PRWEB) December 21, 2011
During this Holiday season, Cedar Education Lending proposes that graduates bestow upon themselves the gift of time and money with a Cedar Education Private Student Loan Consolidation.
Harvey Berkey, COO of Cedar Education, pointed out that, according to a recent report published by The Project on Student Debt for 2010, seniors who graduated in 2010 had student loan debt averaging over $25,000. Approximately half the student loan debt was Private Loan debt, and the average debt was actually much higher at private, for-profit colleges.
“Despite increases in Federal student aid, private loans are a necessity for many students to bridge the gap between federal loans and tuition costs,” said Mr. Berkey. “Students should consider consolidating their student debt upon graduation, both Federal Loans and Private Loans. However, they should remember not to mix the two types of loans as they could lose some key borrower benefits and protections as a result.”
With several websites now offering Student Loan Consolidation Calculators, graduates can get a better perspective on what consolidating their loans would mean to them financially. “College graduates whose credit situation has improved since initially taking out their private student loans or who now would like to eliminate a co-signer on their loans (for most, one of their parents), a Private Student Loan Consolidation makes a lot of sense,” added Mr. Berkey.