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Good Lord, This Can’t Be the Best Student Loan For College Students

The best student loan you will ever find will come from the Federal Government.  That is exactly what we found out after speaking to hundreds of students, several financial aid advisors and friends at the local bank.  I’ll share with you the top 7 reasons why these people are “spot on”.

7 Reasons Why The Government Student Loans Has the Best Student Loans on the Market

1. Aside from the application process through FAFSA, these are the easiest student loans you can get.

2. The government will overlook your credit report when determining if you qualify for one of their loans.

3. Federal Student Loans are guaranteed and the minute you receive your FAFSA report you can begin shopping around for your student loan. The report you will receive from FAFSA is called Student Aid Report or SAR for short.  Also, each college will have a list of financial institutions that offer student loans for you.

4. Believe it or not, federal student loans have the best interest rates in the industry.  Over the next 3 years these interest rates will be falling dramatically.

***Helpful Hint, if you have money saved up for college, use all of it now and start borrowing your last few years or semesters in college. In 3 years the interest rate will fall from 6.8% down below the 4% range.

5. Government Student Loans allow you to defer payments until after you graduate. In fact you will receive a grace period before you have to begin your student loan payments.

6. Federal loans have a favorable and flexible repayment options. If you need to change your payments or consolidate your student loans they allow you to do so, hassle free.

***Eager Beavers do not worry, you can payoff your loan early without penalties.

7. If you are a graduate student seek a federal student loan first and if you still need more money then start looking for a Graduate PLUS loan. This is mainly based on interest rates and the lower the rate, the less you need to pay back.

Become good friends with your college financial aid advisor. They are a tremendous help with it comes to borrowing money for college.  They also have a list of lenders who are reliable and have a lot of experience.

Anytime you have someone begging you to borrow money from them or ask you to consolidate your student loans run the opposite direction.  These people are scam artists and they are very good at what they do. Don’t fall for their trap, it could set you back many years.

Reliable lenders have the experience to guide you, advise you and offer the best student loan for your situation.

The lenders we use are Discover for our graduate student and our local bank (US Bank) for our undergraduate.  Other lenders that we’ve heard excellent results is Chase. I know there are more options out there and even though the banking industry is a mess right now, you can still receive your money for college.

Student Loan Consolidation From Chase: Your Best Choice

Chase is one of the leading banking institutions that caters to financial aid for students facing difficulties brought about by the various loans they have incurred while pursuing a higher education. There are many other institutions out there that give out the same offer yet, a lot of people go for Chase Student Loan Consolidation. Chase, along with Citigroup, Bank of America and Wells Fargo, make up the four biggest banks in the United States. You can definitely be assured that Chase is a banking institution that you can depend on.

JP Morgan Chase has a reported US $2 Trillion asset and considered to have the second highest market capitalization. Their financial services are offered worldwide with their headquarters located in New York City. Their financial products would include consumer and corporate banking, financing and insurance, investment banking, mortgage loans and credit card loans. If you are facing problems with the various loans incurred while in college, you would want to apply for a student loan consolidation offered by Chase. Here are the benefits in choosing to consolidate your different student loans through this reputable lender:

a. The loan product merges all your eligible student loans together into one single loan. Because of this, you only have to focus on one monthly payment.

b. You can extend your repayment period to as long as 30 years. Longer repayment period would give you a lower monthly payment. This will allow you the breathing space you need as you continue to apply for a better paying job. Lower monthly payment can also give you extra cash in your pocket.

c. Interest rate in consolidating through Chase is competitive and slightly lower compared to the combination of interest rate of your individual loans. The interest rate offered by Chase is also lower compared to other private lending institution.

d. You can consolidate 3 or more private loans from other lenders and apply any time after graduation.

e. There is no penalty if you choose to pay off your account early than the original repayment period. This is, in fact, being highly encouraged for the student to save money in the long run.

f. Your application for a student Loan Consolidation can hasten if you have a parent or other relatives or friends to apply with you.

g. Chase Bank has competent and efficient staffs that will help you in applying for your student loan consolidation.