Consolidation loan

Students have a lot of loan options with federal and private institutions standing on their toes just to offer them financial assistance. The use of best consolidation loan student reduces the risk to the students if they are associated with any existing consolidation loan schemes. But you must also remember at this juncture that the best consolidation loan student is a high cost loan which is secured by your property.

Of the several types of loans available to students, this article looks at simple student consolidation loans and compares them in an attempt to identify the best one amongst them.

Advantages of student loan consolidation?

Simply put, student loan consolidation is one of the easiest ways to start saving your money today! You can reduce your monthly student loan payments by as much as 50%, fix your interest rates before they can go up, and have the luxury of one payment, with one loan, with one lender. It's free, fast, easy to do, and requires no credit checks.

What is student loan consolidation?

Student loan consolidation is a federal program that allows you to reduce your monthly student loan payments by consolidating all of your loans into a single repayment program with a single authorized lender.

There Are Many Types of Best Consolidation Loan Student

At the loan store you will get the different types of loan explained. There are loans of every types from Federal Student Loans with various repayment programs to other secured loans. Also there are some online sites that offer some help for students to secure these loans.

The first benefit of taking opting for a consolidation loan is the rate of interest. If you are like I am, you will decidedly go to your bank and try and ask for this one benefit. In cases of consolidation of loans, students benefit in many ways like in monthly installment payments and interest. If you thought just you, but anyone of your family is entitled to this apart from you.

How do I choose the best consolidation company?

The only true difference in approved consolidation companies is what they give back to you in their Benefit Packages. By federal mandate, all authorized lends must offer you the same initial rate, monthly payment, and loan repayment term

What is a benefit package?

A benefit package represents additional savings over and above the terms of the loan that we give back to you in the form of interest rate discounts. The higher the discounts, the more you save over the life of the loan. You savings from a generous benefit package could be in the thousands, so choose wisely.

How can I determine the best benefit package for me?

Go with the company that gives you the best discounts. By federal mandate, all lenders must give you the exact same rate, multiple repayment options, and loan terms with no prepayment penalty. This is all done with no fees, no charge, and no credit check. So the only real difference between all lenders is how much we give back to you.

How can ELC offer a better discount than everyone else?

We choose to. We simply make less money over time on each loan than our competition. We pass along more savings to you, the borrower, through the most generous interest rate discounts in the industry. By being the most generous, we've gained a larger share of the student loan consolidation market. No big secrets, just good business.

What packages does ELC offer?

We offer two packages to fit your consolidation needs. First, the 24 PLAN for borrowers who have more than $15,000 in federal student loan debt. Second, the 48 PLAN for borrowers who have more than $30,000 in federal student loan debt.