Executive Summary: College students have few assets and little-to-no history of loan repayment. Most banks won't touch them. This has left government programs in a virtual monopoly position when it comes to student loans, and monopolies aren't famous for their great value and stellar customer service. If you fee like you're getting hosed, chances are you are. And you're not alone. The problem is so pervasive, that even though we are primarily dedicated to pulling families back from the brink of bankruptcy, we felt compelled to help.
Our authorized Federal student loan consolidation program allows us to slash your monthly loan payments and lock in a fixed interest rate that you can plan on. Payment reductions of 50% or more are possible, so think about how much you’re paying right now and imagine it cut it in half. Sound good?
Better yet, we have four different ways to repay your loan. Depending on the size of your student loan and your current income situation, one of these plans may have your name all over it:
The Standard Plan: This plan offers a fixed monthly payment throughout the life of the loan — typically 15 years. Your new, reduced payment goes towards both principal and interest. It’s as uncomplicated as it gets.
Extended Plan: For borrowers with balances between $30,000 and $59,999, the Extended Plan can make a lot of sense. Rather than increasing the amount of your monthly payment now when you can least afford it, a lower payment is stretched out over 25 years.
Graduated Plan: Some borrowers enter their chosen fields as interns for a year or two before becoming full-fledged members of their profession. For them, our Graduated Plan may be especially attractive. This plan offers a low, interest-only monthly payment for the first two years of the loan. The payment then increases to include both interest and principle and will remain the same as long as the borrow stays in the graduated plan.
Income Sensitive Plan: Borrowers must meet certain qualifications in order to be eligible for this plan, and reapplying every 12 months is required. But once approved, the Income Sensitive Plan is like nothing else we’ve ever seen. A minimum monthly payment amount is determined based solely on the borrower’s income – regardless of the size of the actual loan. Not only is this an amazing deal, it’s a great way to build a solid loan history.
Best of all, you’re not “stuck with a plan.” We know your current financial situation is merely a snapshot, and five years down the road you will be in a different place entirely. That’s why our customers can move from plan to plan as their situation changes, as often as once a year.
No one should start out in life with a sizeable and unfair loan burden on their shoulders. Call us or e-mail us with your current loan details and let us provide you with a quote. No cost, no obligation. This is your no-brainer move for the day.
