New York, NY (PRWEB) September 23, 2011
Typically, Private Student Loans are deferred for 6 months post graduation. With November fast approaching, recent graduates should begin to take stock of what they owe and to whom. Cedar Education Lending recommends some basic things to consider for a Private Student Loan Consolidation:
1) Who are your loans with? Are they with one lender or are you going to have to write checks to several different lenders if you have multiple loans? Wouldn’t you prefer writing just one check or having one simple ACH debit?
2) What are the rates on these loans? Are they all variable, fixed or some combination? If you took out your loans several years ago, today’s interest rates may be a compelling reason to consolidate.
3) What is your total monthly outlay for your combined Private Student Loans and Federal Student Loans? Use our consolidation loan calculator to calculate the monthly and total savings possible with our Consolidation Loan.
4) Are your Private Student Loans cosigned? Private Student Loan Consolidation allows the cosigner to be releases after 12 consecutive on-time principal & interest payments.
5) For those applicants who qualify for a Private Consolidation Loan, an interest-only option may be available for the first four years of your repayment.
The clock is ticking. Get serious about your finances and don’t forget to also consolidate your Federal Student Loans.