Student Loans

LIBOR or Prime Rate?

2008-07-18T15:47:00.007-04:00

With the start of college just a few weeks away, it's not too early to begin figuring out how you're going to finance the new school year.

If you're like most people, you may need some private student loans to help fill the gap that's remaining after you've accounted for savings, scholarships, Federal student loans, and Mom & Dad.

Like anything else, comparison shopping of student loan rates and benefits is important, to help keep your borrowing costs and debt down. Many lenders offer loans touting LIBOR (London Interbank Offered Rate) rates, and others, the Prime rate. Both rates are interest rate benchmarks or indices used by most financial institutions around the world to set interest rates for their own particular credit products.

Both have their similarities and differences. Click here for the similarities and differences between LIBOR and Prime Rates.

What's important is sorting out the bottom line costs while you borrow and after you borrow. Take the time to ask questions.

Just be forewarned though...the lowest interest rates are usually available to those who have very good credit, or who have cosigners with very good credit. If your credit score is under 660, it would be wise for you to get a creditworthy cosigner.

And while we're talking about student loans, be sure to include OneSimpleLoan® on your private student loan shopping list. In addition to great rates, the Student Loan Consultants are wonderfully knowledgeable people who will answer all your questions!

Get the Facts about Student Loans & College Financial Aid

2008-06-21T11:43:00.016-04:00

If finding financial aid to help you pay for school leaves you feeling more befuddled and confused, you're not alone. To help you, there's a new website we've created called StudentLoanTruth.org.

StudentLoanTruth.org is designed just as its name says: to give you the information you need to help you understand Student Aid 101 basics, including:

• College Financial Aid Timelines to follow while in high school to maximize "free money" opportunities in the form of scholarships and grants

• What you need to know about FAFSA and why it's so vital

• All about credit and credit scores

• Federal and Private Student Loans — which is right for you?

There's lots more on this new site. At OneSimpleLoan.com, we're here to help you get the facts you need to afford your college education!

Get the money you need for college -- now!

2008-01-24T10:19:00.007-05:00

Hi Blog Readers!

With many of you returning to classes this week, I just wanted to remind you that you can still get the money you need for your college expenses --- not just for your tuition!

If after exhausting your Federal aid, grants and scholarships, you still need extra funds to pay for your college-related expenses, you can apply for a private student loan from OneSimpleLoan -- it can be used on college expenses like:

Tuition and fees
Books
Housing costs/rent/utilities
Commuting costs to and from class/transportation
Computer equipment/Internet access for online research
College meals/food
Estimated Family Contribution (EFC)
and more!

You can still apply for a private student loan from OneSimpleLoan and get the money you need in as little as a couple days! Unlike some Federal aid, the check comes to you and Private student loans can be used on ANY college related expenses!

Best of all, you don't have to pay anything back until after graduation!

So, call us at 1-877-663-7467 or check out http://www.onesimpleloan.com/ for more information on private student loans!

Good luck! :-)

Here's why you should fill out the FAFSA

2008-01-22T10:23:00.002-05:00

Financial aid isn't limited to low-income families. Yale University announced last week that it's increasing financial aid for families with income of up to $180,000 a year. The announcement followed similar moves by Harvard, Duke and other top schools to reduce the burden on even upper-middle-class families.

Of course, to receive this aid, your child must be admitted to one of these schools, and competition is particularly brutal this year. Harvard said last week that it has received more than 27,000 applications — a record high — for about 1,670 freshmen slots.

Still, if your child has what it takes to get into an Ivy League school, it's worth a shot, because you probably won't have to go into debt to pay the bills.

For most families, "If a child is accepted at Harvard and Berkeley, it's now less expensive to send that child to Harvard," says Terry Hartle, senior vice president for the American Council on Education.

But to qualify for these generous financial aid packages — or any financial aid — you must fill out a FAFSA. The form is used to determine eligibility not only for federal aid but for state aid and for scholarships and grants from private schools.

You need a FAFSA to apply for federal student loans. All college students are eligible for unsubsidized Stafford loans, no matter how much money their parents make, Kantrowitz notes. These loans, which the federal government guarantees, offer lower interest rates and more flexible repayment terms than private student loans.

Maxing out on federal student loans before taking out private loans is even more important this year. The fallout from the subprime mortgage market has affected all types of loans, including private student loans.

Private lenders are expected to tighten credit standards and increase interest rates and fees. Interest rates on most private loans are variable, so there's no limit on how high they can go.
The rate for unsubsidized Stafford loans is 6.8% for the life of the loan. The rate for new subsidized Stafford loans, available to students who can show financial need, will drop to 6% on July 1. And under a federal financial aid bill enacted last year, Stafford borrowers will never have to spend more than 15% of their discretionary income on loan payments.

Smoothing the way

Once you've resolved to fill out the FAFSA, here's how you can improve your chances of receiving aid:

Apply online. You'll immediately receive confirmation that your application has been received, along with a preliminary estimate of your Expected Family Contribution — the amount your family will be expected to pay under the federal financial aid formula. In addition, the online application lets you list up to 10 schools to receive your financial information, says Kalman Chany, author of Paying for College Without Going Broke. If you use the paper application, you're limited to four schools, he says.
Know your deadlines. If you're applying to a state school in Connecticut, get busy, because the deadline for financial aid applications for such colleges is Feb. 15. That's the earliest state deadline, but several others impose a March 1 deadline. Some private schools and scholarship programs also impose early deadlines. You can find deadlines for state schools at www.fafsa.ed.gov. Private schools and scholarship programs usually provide deadlines on their websites.
Start collecting your documents. To complete the FAFSA, you'll need your 2007 income tax returns, bank statements, brokerage statements and mortgage information (see box for checklist).
If you haven't done your 2007 taxes, you can estimate your earnings and revise them later if necessary.
Make sure to use the student's full legal name and Social Security number when filling out the form. If the student's name doesn't match the number in the Social Security Administration's database, your application will be delayed.

Article featured in USA Today, January 22, 2008. http://www.usatoday.com/money/perfi/columnist/block/2008-01-21-fafsa-financial-aid_N.htm

Click here for more information about FASFA.

'Professional judgment’ could be password for more college money

2008-01-15T10:33:00.002-05:00

[As published in the Kansas City Star, Saturday, January 12, 2008]

Wouldn’t it be great if you could whisper a secret financial aid password at just the right moment and suddenly get a much better college deal?

What if knowing just how to use these magical words could help you sidestep rigid financial aid rules and “supersize” your award package by thousands or even tens of thousands of dollars?

Listen closely: The password is “professional judgment.”

To the eager ears of college financial aid officers, these two simple words carry considerable weight: They invoke the authority that has been granted to college officials by the federal government to make financial aid adjustments on a case-by-case basis.

Are your family’s special circumstances not fully addressed in the financial aid formulas? Have any aspects of your finances changed since the date you submitted your forms? If so, you’re a great candidate for a professional judgment adjustment that can reduce what you’re expected to pay and boost your financial aid award.

To give you a better idea of what I’m talking about, here are just a few of the special family circumstances that can help you build a compelling professional judgment case:

One-time taxable income: If you’ve received extra income because of a family inheritance, insurance settlement or employment bonus, then this one-time windfall may overshadow your family’s regular annual income.
Fluctuating job income: If your family’s income was unusually high because of factors that are not likely to recur (such as the availability of significant overtime wages or special sales commissions), then the income listed on your aid forms may overstate your family’s true ability to pay.
Noteworthy expenses: If your family bears the burden of high medical, dental or elder-care or child-care bills, then such expenses should be factored into the equation even though they are largely ignored by financial aid formulas.
Parents enrolled in college: If a parent is attending college to pursue a degree — especially for career advancement or a change in career path — then this is equivalent to having another sibling enrolled in college at the same time.
Private school tuition: Families with younger siblings who attend private elementary or secondary schools clearly have significant tuition expenses that are overlooked in the financial aid formulas.

Regardless of your specific circumstances, the key to leveraging professional judgment is to provide credible documentation. If you have high medical or dental expenses, for instance, provide copies of the bills. If your employment income last year was unusually high, supply tax returns from the prior three years as evidence.
Once you’ve received a college’s initial financial aid award letter, here’s what you do: Call to make an appointment with the financial aid administrator assigned to your case. Confidently drop the words “professional judgment” into the conversation. Explain that you would like to send some background documentation prior to your appointment to help the administrator gain a better understanding of your unique situation.

If you do this, your chances of success are quite good. According to a recent study, about half of all professional judgment reviews resulted in a financial aid increase. If you follow all of the above guidelines to clearly document and structure your argument, your odds will be even better.

How much additional college dough might you get?

It depends on your situation, but I’ve actually witnessed a family gain an extra $30,000 in financial aid.
If good fortune like this falls into your lap, you probably won’t want to just whisper the secret password. So go ahead — shout out, “Professional judgment rocks!” all the way to the bank.

Deducting Student Loan Interest

2008-01-10T13:59:00.001-05:00

Attention College Students,

"You can deduct up to $2,500 in student-loan interest paid in 2007 if your income for the year was $55,000 or less if single, or $110,000 or less if married filing jointly," Kiplinger reports. "Single people can take a partial deduction if they earned up to $70,000 for the year, or $140,000 if married filing jointly. You can take the deduction regardless of whether you itemize. You may even qualify to take the write-off yourself if your parents paid the interest on a loan for which you were legally liable (your parents, however, cannot claim the deduction if they weren't liable for the loan). You cannot deduct student-loan interest if you are being claimed as a dependent on your parents' tax return."

You can read the complete January 7, 2008 Kiplinger article on-line to learn more.

Apply Early For Federal Student Aid With The FAFSA, New Features Make Filing Easier And Faster!

2008-01-09T10:41:00.002-05:00

[The following is a news release issued by the U.S. Department of Education.]

The start of the calendar year also marks the beginning of the college financial aid season with the release of the U.S. Department of Education's 2008-09 Free Application for Federal Student Aid (FAFSA). The FAFSA is the qualifying form for all federal grants and loans as well as many state and private student aid programs.
Each year, the U.S. Department of Education disburses more than $80 billion in higher education grants and loans to students attending postsecondary schools, but, to qualify, students must first complete the FAFSA.
"We want to make sure students and families take full advantage of the billions of dollars in federal financial assistance available to them for postsecondary education each year," Secretary Margaret Spellings said. "Most families are eligible to receive some type of financial aid; they just have to take that first step and complete the application."

Each year, an estimated 14 million applicants apply, and more than 10 million receive some type of federal grant or loan.

More than 95 percent of FAFSAs are submitted online, and now, with several added features, it is easier than ever to apply online. Students and families can:

Request a personal identification number (PIN) and immediately receive it to electronically sign the application.
Submit an online FAFSA and immediately receive a confirmation with a preliminary expected family contribution.
List up to 10 schools to receive the provided financial aid information.
Copy parental information to another FAFSA application for a second or third child.

To determine aid eligibility, students and families should fill out the FAFSA as early as possible after Jan. 1 for the academic year beginning July 1. Many factors contribute to a student's eligibility for federal financial aid besides income, such as the size of the family and the age of the oldest parent. Completing a FAFSA is the only way students and families can find out how much federal aid they are eligible to receive.
Although completing the FAFSA online is the preferred method for most families, there are other FAFSA filing options available, including downloading the form or ordering a hard copy. Both online and hard copy FAFSAs are available in English and Spanish at the Federal Student Aid Web site,

www.federalstudentaid.ed.gov, by clicking FAFSA Filing Options. Federal Student Aid, an office of the U.S. Department of Education, ensures that all eligible individuals can benefit from federally funded or federally guaranteed financial assistance for education beyond high school. To learn more, visit www.federalstudentaid.ed.gov.

Original article appears at http://www.nasfaa.org/publications/2008/eafafsa010908.html

What to do when a student loan telemarketer calls - Final Part

2008-01-04T16:22:00.001-05:00

As mentioned, aquiring student loans or deciding to consolidate your existing student loans are great financial options, but pay close attention to these tell-tale signs to make sure the person you’re speaking to isn’t more interested in filling their own pockets then filling yours.

Tips on How to Handle Student Loan-Related Phone Calls & How to Choose the Best Ones to Pursue

1) Don’t be bullied or rushed into making a decision. It’s important to feel comfortable and not rushed by the person you’re speaking with.

Make sure you’re treated with respect: Work with a company who makes it a point to listen to their clients needs. Find a company that doesn’t take one single call they make or receive for granted. Real customer-service-oriented Student Loan companies want to know that each of their borrowers is happy with their student loan or consolidation solutions. This is why companies like OneSimpleLoan® thrive on testimonials from their customers, daily. Check out http://www.onesimpleloan.com/testimonials.asp to see exactly what I’m talking about.

2) Make sure you’re talking with a student loan professional and not a telemarketer (some people are trained to make calls, not to help you get a student loan or consolidate your student loans properly and efficiently). You can tell right away if someone is reading from a script or going through the motions. Aquiring a student loan or consolidating your existing loans involves your personal finances and it’s nothing for someone to play around with.

Work with a company who has an excellent Training program: Few student loan companies invest enough into the training of their student loan consultants. It’s important to work with a company that does. OneSimpleLoan® for example puts their Student Loan Consultants through a tiered training program, which each include an entire week of in-house training letting them excel into three levels of service.

3) Do some research on the company you’re speaking with before you decide to work with them. Visit their website, check out to see if they’ve had any BBB complaints issued against them. Ask questions…if the answers don’t sound right, hang up!

Make sure the company is credible: Find out what kind of credentials the company you’re speaking with has, such as membership in their local or state chamber of commerce and Better Business Bureau. Companies, like OneSimpleLoan®, pride themselves because of these prestigious memberships and for having superb understanding and implementation of student loan laws and regulations.

Look for Consistency and valuable resources: The worst thing is having to go through a detailed process with one person and then having to explain it to someone else. Is the consultant willing to give you their full name? Can you call them back with questions? Borrowers who consolidate with OneSimpleLoan appreciate the fact that they are assigned to one consultant to help them through the entire consolidation process.

4) Listen to the person on the phone. Do they mention grace rates, borrower benefits, deferment, or forbearance? If no, they may be holding back on giving you a full range of options to help you manage your student loan debt or aquire the best student loan for your particular situation.

Make sure they’re easy to understand: Sure, the person on the phone may sound like they know what they’re talking about, but do you? It’s important that the Student Loan Consultant tries to make the process of consolidation or aquiring a student loan as easy to understand as possible by using simple to understand terms and treating each borrower like a personal friend whom they’re helping.

5) Make sure you’re speaking with someone with expertise on the subject. Get the phone number and name and even the lender ID code, if available, of the company that’s calling you or that the person represents.

Work with a company that experiences successful growth: They may be few, but there are student loan companies that do hire professional staff, have a resourceful website and a dynamic stature that make them successful members within the student loan industry.

Find out how simple and quick the process is: Before you start the consolidation process or decide to get a student loan, ask the company you’re on the phone with how long their consolidation process will take. It’s better to know and prepare yourself from the beginning than grow impatient later. It’s important to work with a company who’s process is hassle-free. A good student loan company can help you complete your consolidation paperwork in less than an hour – some even do most of the written work for you! In fact, many borrowers who have consolidated their loans with OneSimpleLoan® comment on how easy and quick the consolidation process is because of the quality of attention and service they received from the Student Loan Consultant who helped them.

Most of all, work with someone who you can tell enjoys their job of helping you get the financial option you need.

In addition to their employees, many student loan companies do have your best interests at heart – after all, a job is a choice and many who love customer service choose to help student loan borrowers make the best choices about their loans. In fact, customer service is at the heart of many of the most successful student loan companies, of which OneSimpleLoan® is no exception.

What to do when a student loan telemarketer calls - Part 1

2008-01-03T17:00:00.001-05:00

We’ve all gotten those calls from telemarketers. Yes, those pesky people who famously call during the wee minutes of our scrumptious dinner to try and sell everything but the kitchen sink. Futilely, I may add, since the only thing most of them draw from us is an expletive and maybe a “not interested” followed by a dramatic hang-up.

Slick-monotone-hard-to-understand-robot: This is picture that is commonly painted of our rarely American telemarketer friend. Not surprisingly, the once tolerate job of a telephone sales representative has almost become a stigma in American culture.

Telemarketers love the student loan industry and for good reason.

True, Telemarketers can call at the absolute worst times selling anything from credit cards, to vacation plans and time shares. Now, if you are one of those lucky ducks with student loans or in need of student loans, then you probably have had your fair share of calls about consolidating your loans or getting more loans, as well. But, let me say, don’t let the thought of telemarketer on the phone leave a bad taste in your mouth about student loans or student loan consolidation. Student Loans are making it possible for millions of Americans to attend college and achieve their goals, while consolidating your student loans is thought by many to be one of the best ways to manage your student loans after college.

In fact, consolidation and student loans can both give you many money-saving benefits including a lower interest rate, lower monthly payments, and even borrower incentives. So speaking to the right person on the phone can really be worth the time. And what I mean by right person is speak with a Student Loan Consultant, someone who is specifically trained to be an expert on the subject of student loans and whose sole purpose is to help student loan borrowers in need of student loans or better loan management.

A Student Loan Telemarketer is not the same as a Student Loan Consultant

Though both may call you, it’s important to know the difference between a telemarketer and a student loan consultant. A telemarketer says and does what they’re told to, while a student loan consultant’s main role is customer service and satisfaction. Many times, if you get a great student loan consultant on the phone, they’ll be happy to inform you of everything you ever wanted to know about student loan consolidation and the options available to manage your loans after college better. A good student loan consultant is happy to answer your questions because they genuinely want to help.

So choosing to consolidate your loans shouldn’t be the biggest issue, it’s with WHOM you should consolidate that should be your concern. After all, consolidation puts you into a relationship with your lender for years to come and the student loan consultant you speak to can be a good indicator of the type of company they represent, and who you will be dealing with.

Make sure to work with a company whose telephone representatives are real Student Loan Consultants, such as in the case of OneSimpleLoan which is offically listed as a Dun & Bradstreet Student Loan Consulting Firm.

Visit http://www.onesimpleloan.com/ to learn more about the OneSimpleLoan service difference.

Myths and Facts of Student Loan Consolidation: Final Part

2007-12-20T13:07:00.000-05:00

Myth: As long as I'm in school, I cannot consolidate any of my Federal student loans until I graduate or leave school. Fact: Not entirely true. If you are in graduate school, you can consolidate your undergraduate school loans. Also, if you're in a post-graduate program, such as medical school or law school, you can consolidate your undergraduate and graduate school loans!

Myth: Even if I have a high interest rate but I’ve already consolidated before, I can’t consolidate my student loans again to take advantage of a low fixed rate.
Fact: Not true. You can reconsolidate if you either received a new eligible loan since the consolidation or have left an eligible loan out of the original consolidation.

Myth: Student Loan Consolidation will hurt my credit rating.
Fact: Not true. If anything, Federal student loan consolidation may help your credit rating, so that you can have the ability to obtain additional credit for things like a mortgage or a new car!
When you apply for any form of credit, such as a mortgage loan or credit card, lenders will evaluate your credit score as part of the application process. Your credit score takes into account the number of creditors you have as well as the balance of outstanding loans. By consolidating your student loans into a single loan, you can effectively decrease the number of creditors on your credit history, thereby enhancing your overall credit score.

You’ll be happy to know that at most student loan companies, there are no credit checks!

Myth: The word “consolidation” is frowned upon in the credit industry.
Fact: Not true. There are two types of consolidations in the credit world. One is consumer debt consolidation and the other is a federal student loan consolidation. Each is very different from the other. Consumer debt consolidation is usually meant for people who have had trouble paying off their bills and can really hurt their relationships with their creditors. Student loan consolidation, on the other hand, doesn’t hurt anything. No relationships are harmed because, by consolidating all your federal student loans, lenders will be paid in full and one single new loan (a consolidation loan) will be issued in its place. In fact, your credit rating may actually improve after you consolidate!
If there’s one good thing that the government has given the American student, it’s the option of student loan consolidation. If there’s anything a student should consider after graduation, it’s student loan consolidation.

To learn more about student loan consolidation visit http://www.onesimpleloan.com/loan_consolidation.asp

Myths and Facts of Student Loan Consolidation: Part 1

2007-12-19T11:29:00.000-05:00

If you’ve got student loans, then please pay close attention! You’re about to learn a lot of valuable information about student loan consolidation that, if acted upon, could put a lot of money back in your pocket after college.

Myth: Consolidation of student loans is just too complicated to invest time in!
Fact: While it may seem complicated or time consuming, the process of consolidating Federal student loans is rather simple and the rewards are bountiful. In fact, the process has been made easier than ever by student loan companies who will do all the work for you. They will walk you through the entire process and even help you pick out the repayment package that’s best for you. Student loan consolidation can transform your loans into one, simple, manageable repayment package that’ll make paying back your student loans easier than you can imagine.

Myth: If I have a single lender, I have been told I can not consolidate.
Fact: No longer true! In June, 2006, the single lender rule was repealed by Congress and President Bush. In fact, a student loan company, OneSimpleLoan, filed a lawsuit challenging the Department of Education in June 2006. That effort was a catalyst in overturning the single lender law!

As a result, you now have the freedom of choice to consolidate your student loans with anyone you choose, regardless of who your original lender is. Make sure you choose a company that has your best interests at heart all the time.

Myth: If I consolidate my loans, I must extend the terms of my loan.
Fact: Not true. You can, indeed, maintain the exact same terms and monthly repayment amount as your original student loans. (This is a good idea, since you may be able to pay off your consolidated loan even faster!)

For more informaiton on student loan consolidation, visit http://www.onesimpleloan.com/loan_consolidation.asp

Private Student Loans 101 - Final Part: Choosing Your Perfect Private Student Loan Lender

2007-12-17T16:21:00.000-05:00

Private loans could very well make funding your entire college education possible, but choosing the right one for you will determine just how much is possible it is to get all the money you need. Read on to learn some of the things you should look for when searching for your perfect Private student loan.

Unlike Federal student loans that are guaranteed by the government, Private student loans or Alternative student loans are guaranteed by Private institutions such as:

Banks
Private Lending Institutions and
State Institutions that grant Private Education loans
Schools, colleges and universities

Each Private student loan lender has its own eligibility but if you’re in college as an Undergraduate or Graduate student, simply continuing your education or studying a professional degree such as in the medical or law field, you should find many private loans options are at your disposal.

Look for the best Private loan terms for your good merit

Depending on the type of loan you’re seeking, most Private loan lenders will also have their own Private loan repayment terms. Since your eligibility for Private Loans are based on terms of merit such as creditworthiness and reliability to pay back a loan, make sure you work with a Private loan lender who gives you a break, such as the borrower benefits mentioned in Part 3, for your own good merit upon repayment.

How 'easy' is the lender's application process?

When choosing a Private loan lender it’s also important to consider how easily you’ll receive the funds you need. Take into consideration:

Website - How inviting is the company’s website? Is it informative, easy to navigate and understand? Is it resourceful?
Application process - What application methods are available to you? Online, Phone, Mail? If the lender offers an online application, is it easy to understand? How long will it take to fill out? What kind of information is required of you? Most importantly, is it secure? If the company has a paper application, do they offer to mail it to you? How prompt will they be? What is required of you once you receive it? Based on your preference, make sure to work with a Private loan lender that gives you the choice of a paper application or online application.
Customer service – Is courteous customer service available? Is the customer service staff trained to answer your questions? What type of quality assurance does the company have? Make sure to work with a lender that has trained Student Loan Consultants – if they invest the time to maintain the quality of their employees they’ll be more likely to invest quality time in their clients.
Processing time – Take into consideration how long the company takes to send you the money you need. Finding out who is the company’s guarantor could determine how long it will take to get the funds to you.
Credibility – How long has the lender been in business? Does the lender have any credentials? It’s important to find out what types of certifications or memberships the lender you choose has. Is it a member of the Better Business Bureau? A Chamber of Commerce? Has it had any complaints? It’s important to check. Working with a lender you can trust to handle your finances and personal information is an important decision, after all.

The perfect Private student loan and lender could get you the extra funds you need to pursue your education!

Now that you’ve made it through Private Student Loans 101 and learned about an alternative way to pay for your college-related expenses, don’t let anything hold you back from pursuing the dreams of success you want. A great education is a wonderful thing and nothing should ever stand in your way of achieving your goals.

As you start or continue your education, remember the availability of private loans, such as those from OneSimpleLoan, offers you an option to fund your education when you don’t know where else to turn for the money you need.

Private Student Loans 101 - Part 3: Taking Advantage of Private Student Loan Benefits

2007-12-12T10:14:00.000-05:00

Of course the primary purpose of obtaining a student loan is to help you obtain a sound education so you can realize your career aspirations. And using credit wisely is important. That’s why you’re encouraged to seek out as much Federal student aid, grants and scholarships first before applying for a private loan.

Private loan application process — get pre-approved in minutes if you qualify!

However, once you determine that a private student loan can be a viable alternative funding source to cover your education finance gap, you could be pre-approved for a private loan within minutes of applying! Many times the application process is very simple and can, with most lenders, even be handled over the phone or online.

Longer pre-payment terms and no pre-payment penalties can help you better manage your cash flow after college

When it comes to paying back your private loans, many lenders give you up to 20 or 25 years to do so. The absence of pre-payment penalties means that as long as you make your minimum monthly payment, you can pay off your loans as fast or as slow as you want within your repayment term.

Interest rate discounts can help lower your cost of private loan borrowing even more!

Many private loan lenders would like to have your business. So be sure to shop around, and make sure to ask each lender about these and other private loan “borrower benefits” such as:

• An interest rate discount for automatic payment from a savings or checking account
• An interest rate discount for simply making on-time payments.
• Little or no origination fees, if you or your co-signer has good credit

For more information on Private Student Loans visit www.onesimpleloan.com/private_loans.asp

Private Student Loans 101 - Part 2: Types of Private Student Loans

2007-12-11T12:35:00.000-05:00

Most Private student loan lenders have a variety of Private student loans available for college students in different areas or lengths of study. Many Private loan lenders will even lend to parents of students who are in non-public elementary schools or secondary schools.

Although each Private loan lender has their own line of Private student loans available for lending, those listed below are commonly available by most. Keep in mind also that each Private loan lender has its own list of eligible schools so make sure to apply for a Private loan with a lender for which your school is eligible.

Common types of student loans that most Private student loan lenders offer:

Undergraduate Private Loans – Generally speaking, these loans are available to students who attend undergraduate colleges and career, technical, and trade schools across the nation and who will be attending their school of choice and usually be attending at least half-time.

Continuing Education Private Loans – These loans are generally available to part-time (less than half-time) students who attend schools across the nation. This includes students that are completing a degree or certification program or taking classes to further their career or personal development.

Graduate/Professional and Bar Study Private Loans – These loans are generally available to students pursuing advanced degrees at participating colleges and universities across the nation. Students must usually attend at least half-time.

K-12 Education Private loan – These loans are generally to parents or other adult sponsors (relatives or friends) of children who attend participating non-public elementary schools across the nation including private, religious, preparatory, military or special education schools.

For more information on Private Student Loans visit www.onesimpleloan.com/private_loans.asp.

Private Student Loans 101 - Part 1: Introduction to the Private Student Loan

2007-12-10T11:51:00.000-05:00

One of Uncle Sam’s greatest gifts to the American student is Federal student loans, making it possible for millions of young Americans to pursue higher education. But Federal student loans may always not be enough. That’s where a private student loan may be an excellent financial resource to fill in the gap to cover college-related expenses.

Private student loans — not just for tuition!

All the talk these days is about the higher costs of college tuition. But what often gets overlooked are all of the other college expenses that can make going to college more crushing financially.

However, most private student loans can cover virtually all kinds of college expenses, including:

Room & Board
Off-campus housing
Registration fees
Text books
Laptop/Internet access
Travel expense to get to and from classes

Who is eligible for a Private Loan?

Keep in mind that each private loan lender has certain eligibility requirements. However, for most private student loans, you must meet the following criteria:

• Must be creditworthy applicant or have a creditworthy co-borrower
• Must be a U.S. citizen, U.S. permanent resident, or international student with a qualified U.S. citizen or U.S. Permanent Resident co-signer
• Must be within age of majority by your state of residence (typically 18 years of age)
• May be a full time, half time, or less than half time (including continuing education) student

How can you qualify for a private student loan?

Because private student loans are made by private institutions such as a bank or other private lending institution, your ability to get a loan will be based on merit, specifically good credit, essentially, a high enough credit score. The availability of a co-signer with good credit is even better from the lender’s perspective because taking into account a co-signer’s good credit, your combined probability of repaying the loan is higher. So, the lender can be more likely to approve you for a private loan.

If you think about it, most consumer loans require collateral, such as a house or a car. If a borrower doesn’t repay the loan, then lender can repossess your property, so it can sell it to recoup the money it had loaned out.

In the case of education loans, there really is no collateral; i.e., how can a lender repossess your education? It can’t. That’s why lenders rely on a good credit record, since that is a strong indicator that you and/or your co-signer have a proven track record of repaying on your credit cards or other loans in a timely and responsible manner.

Co-signers with good credit can help you qualify for a private loan, lower your borrowing costs and improve your own credit score!

Because private student loans are based on merit, the rate you receive is based on your credit history and income. If you don’t have one or the other or both, that’s where having a creditworthy co-signer can be invaluable.

Since the loan amount and your interest rate will be based on several criteria, often a credit-worthy co-signer can help you qualify for a private student loan. In fact, a co-signer with good credit can help you obtain a private loan with a lower interest rate, saving you a ton of money over the life of the loan.

Another added benefit of a creditworthy co-signer is “guilt by association but in a good way.” This means that the timely, responsible repayment of your private loan under a co-signer arrangement will be a positive way to build up your own credit record.

For more information on Private Student Loans visit http://www.onesimpleloan.com/private_loans.asp

Recent College Grads! See how consolidating your student loans after college can change your life!

2007-12-06T10:15:00.000-05:00

Sure, your student loans get you through college but don’t you just wish they would go away after graduation? I mean, after college you’re ready to get move on with you life and pursue your dreams. The last thing you want lagging behind you for years is your student loans.

But have no fear students and grads, because there is a way to get rid of the hassle of dealing with your student loans after college, and let me tell you, it could really change your life for the better!

Student Loan Consolidation, a Federally-backed program, lets you take all your student loans, all your high interest rates and all your payments and transform them into one simple manageable repayment package. What student loan solution could be better than that!

Some of the benefits of student loan consolidation:

When you consolidate your student loans, you no longer have to think about when and to whom you owe money to. Consolidation will simplify your life by transforming all your loans into one simple manageable repayment package created just for you thereby giving you just one new loan and one new lender. Furthermore, you can consolidate multiple Federal and Private student loans into just two consolidation loans, thereby minimizing the amount of loans.
Consolidation can offer you a low interest rate, so you can stop paying different rates to different lenders for different student loans. No more worries about facing the possibility of an escalating interest rate every year! A consolidation loan takes the average interest rate of all your open loans and that average, usually lower, would be your new interest rate!

On top of an already low interest rate, many student loan consolidation companies, like OneSimpleLoan for example, offer borrowers a money-saving interest rate reduction for making your monthly payments via secure auto-pay from your checking or savings account.

The interest you pay on your new consolidation loan may be tax deductible! An annual tax deduction of up to $2,500 is available for interest paid on tax qualified education loans. Visit www.irs.gov/taxtopics/tc456.html or contact your tax advisor for more information.

Consolidating your student loans may also improve your credit score. Because student loans constitute money owed, having many outstanding loans could adversely affect your payment history and your outstanding debt, which compromises part of your total credit score. By consolidating your student loans, your many loans become just one new consolidation loan, thereby minimizing your debt image. By improving your credit score many students may be more likely to qualify for many post-college comforts such as getting an apartment, house, or new car since credit scores play a major role in determining whether or not you qualify for such luxuries.

As you can see, it’s obvious that based on the benefits, consolidating your student loans could easily save you thousands of dollars in fees you are now or might soon be paying in higher interest rates and high monthly payments. However, there are some situations where consolidation may not be advantageous. That’s when speaking to reputable student loan consultants such as those at OneSimpleLoan may be beneficial to you.

All in all, who couldn’t use a couple thousand extra dollars in their pocket? That extra money coupled with the possibility of an improved credit score could help you buy a new car, put a down payment on a house, or even move to the big city in pursuit of your dream job after college.

So, if there’s anything you should consider after graduation, it’s exploring the possibility of consolidating your student loans and you could see just how different your life can be after you do!

Real-Time PINs Available Soon for FAFSA Applicants

2007-12-04T10:40:00.000-05:00

Attention all students!

As the new year dawns upon us, many of you will be applying for financial aid for the 2008-2009 school year using the FAFSA form (fafsa.ed.gov). You'll be happy to know that soon you will not have to wait until you recieve your PIN numbers in the mail before you can sign your applications for processing! Read more below.

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Beginning January 1, 2008, students and parents will be able to apply for and receive a "real-time" PIN when completing a FAFSA on the Web (www.fafsa.ed.gov) or when applying for a PIN on the Department’s PIN Web site (www.pin.ed.gov).

After determining that 97 percent of PIN applicants provide correct information (i.e. social security number), the Department decided to make this real-time PIN available not only for first-time PIN applicants but also for those who have lost or forgotten a previous PIN. After receiving the real-time PIN, applicants will be able to change the PIN to a number that is meaningful to them.

First-time PIN applicants will instantly receive a conditional PIN that will allow them to electronically sign their FAFSA on the Web. The conditional PIN can only be used to sign the original application that students and/or parents are completing at the time they applied for the PIN. The data supplied by the PIN applicant will then be verified with the Social Security Administration (SSA). If the applicants’ PIN information is accurate, the conditional PIN will then be good for all processes that require a PIN in the future. If the applicants’ data does NOT pass the SSA match, they will receive a SAR with a rejected signature comment and the school will receive a rejected ISIR. The students and/or parents will then need to provide the required FAFSA signatures. Students and parents will need to correct PIN data to receive their PINs.

Source: http://www.nasfaa.org/publications/2007/rnpin120407.html

The 2008-09 Process Guide for Student Web Application Products provides more guidance about how the real-time PIN process will work.

Thinking of consolidating your student loans? Choose your Student Loan Consolidator carefully.

2007-11-30T10:13:00.000-05:00

If you're faced with a lot of student loan debt after graduation or are expecting to graduate with enormous student loan debt, student loan consolidation may be a way for you to transform your debt into one new repayment package with a lower interest rate and lower monthly payments. Sounds like a great debt management option doesn't it? It can be.

However, it's important that college students (or graduates) are careful of who they decide to consolidate their student loans with. For example, consolidating student loans through the Department of Education or using a student loan company that is a member of the Federal Family Education Loan Program (FFELP), such as OneSimpleLoan, offer a student a reputation that they can trust. When it comes to customer service, it is thought that student loan consolidators that are members of FFELP can provide superior customer service since it is those companies' choice to consolidate loans for students. Because it is a choice and a livelihood of business, student loan companies that are part of FFELP, and like OneSimpleLoan, offer student loan consolidation tend to invest more time in the quality of their student loan consultants in an effort to provide optimal service and information for students.

It is also important for students to work with a student loan consolidation company that remains up-to-speed on current student loan regulations. This ensures that the students get accurate answers to their questions and know of implications that could affect their financial situation.

Work with a student loan consolidation company that has your best interests at heart. For example, the certified Student Loan Consultants at OneSimpleLoan are up front and personal and will tell students when and if student loan consolidation would be ideal for their particular situation.

So, when it comes to consolidating your student loans (or the thought of it), do a lot of research, consider a reputable FFELP member and turn to a company that offers superior customer service.

Think you're maxed out on Federal student loans? Don't worry!

2007-11-21T16:27:00.000-05:00

If you're maxed out on subsidized loans, you may still be eligible for unsubsidized Federal loans or vice versa. If you have not yet maxed out both Federal aid options, fill out a Free Application for Federal Student Aid (FAFSA) form to see what other financial aid from your school, such as scholarships or grants, you may still be eligible for.

According to the Federal Government, subsidized and unsubsidized Federal loans have annual limits which increase with each year in school, ranging anywhere from $3,500 to $10,500 a year depending upon your student status.

There are also lifetime limits for subsidized and unsubsidized Federal student loans, from $23,000 for dependent students all the way up to $138,500 for graduate students (even higher for medical students).

If you have maxed out your limits on Federal student loans (both subsidized and unsubsidized), you have the option to apply for private student loans through student loan companies like www.onesimpleloan.com, for example. Many students turn to private student loans because they can be used to pay for virtually all college-related expenses, including tuition, books, laptops, commuting and living expenses, etc. In addition, unlike traditional consumer loans, private loan interest may be tax-deductible; be sure check with your tax advisor for details.

You see, there are always options available to apply for and get the money you need for all your college-related expenses...so don't worry!

Welcome to the only Blog you need for Student Loan Solutions!

2007-11-19T15:20:00.000-05:00

OneSimpleLoan, a student borrower advocate, is glad to offer Undergraduate, Graduate, and Professional Degree seeking students a place to get information about the best student loan solutions!

These include:

Federal Student Loans
Private Student Loans
Federal and Private student loan consolidation

OneSimpleLoan has been a proud advocate for the student borrower since being a catalyst in the repeal of Single-Holder Rule, in it's case against the U.S. Department of Education in 2005.

If you're looking for advice, news, and updates about student loans or student loan consolidation as it pertains to your education and achieving your educational goals, then make sure to visit us often! Need private student loans or student loan consolidation solutions? Feel free to visit www.onesimpleloan.com anytime to apply for the solutions you need!

College Aid Offices May Not Have Best Loan Deals: John F. Wasik

2006-08-07T22:38:00.000-04:00

[Editor's note: OneSimpleLoan® knows that most school student aid offices do a fine job. However, according to the following editorial commentary by John F. Wasik of Bloomberg News, some finanical aid admnistratiors could provide their student borrowers with greater lending options.]

July 31 (Bloomberg) -- When students or parents approach a college financial-aid office for a federal loan, they may not be getting the best possible deal.

Borrowers are often given a ``preferred list'' of lenders certified by the college. You may believe that these are the best loans available since they are chosen by the aid office.

Getting a loan outside of the preferred list may even be discouraged by the college, which is heavily marketed by lenders.

``My client approached a school for a loan and was told by the school that his loan would be processed faster if he went with a lender on the preferred list,'' said John Pearson, a certified public accountant and certified college-planning specialist in Norwalk, Connecticut. ``The preferred system can often deter students from getting the best deal on a loan.''

``Colleges won't tell you that you can get a loan down the street and save money,'' adds Brian Greenberg, a CPA and certified college-planning specialist in Marlton, New Jersey. ``Anything is negotiable. You can get your money anywhere.''

How does a lender get on a school's preferred list? Is there some quid pro quo? The college-controlled lending process has been challenged recently by MyRichUncle.com, which is owned by MRU Holdings Inc., a small specialty finance company with $24 million in student loans through March 31.

Raza Khan, president of the company, alleges through national advertising that lenders offer colleges revenue-sharing deals, or a percentage of the profit of a loan; ``opportunity pools'' of loan money for high-risk borrowers; and gifts and trips to aid officials.

`Shop Around'
``We'd like to see the preferred lender list go away,'' Khan says. ``The students are not always getting the best deal. The only way they can do better is to shop around and compare.''

``The preferred lender lists are at the root of all of the allegations regarding these improprieties,'' said Henry Howard, a former college-aid officer and chief executive officer of U.S. Education Finance Group, a student-loan company based in Miami. ``The preferred lists are no longer necessary and should be eliminated.''

Doubtless, smaller lenders are peeved that they don't have unfettered access to borrowers through aid offices. There are plenty of finance companies and banks that want to do business directly with colleges.

For lenders, the Federal Family Education Loan Program is not only highly profitable, it's virtually risk-free because of government guarantees. At present, federal and private loans constitute an $86 billion business, accounting for 39 percent of the $222 billion spent on higher education. As college becomes costlier, more students turn to borrowing.

Competition for Loans
Yet does the preferred system quash competition because only the largest companies with marketing clout are represented?

Dallas Martin, a former aid official at three colleges and president of the Washington-based National Association of Student Financial Aid Administrators, which represents college aid officials, said while he estimates that 60 percent of universities have preferred programs, ``the vast majority of institutions are trying to look out for what's best for students. They don't want to send them off to a place that's not best for them. It could come back to haunt the institution.''

Doing pay-for-play deals, or offering ``inducements'' for student-loan business, is forbidden under the federal Higher Education Act.

The U.S. Education Department's Office of Inspector General, the agency's watchdog, has investigated potential abuses involving lender incentives to colleges. The office only probed two schools in 2003, issuing an ``alert memorandum'' to Sally Stroup, assistant secretary of education.

Lender Inducements
``Our review concluded there are bargaining practices between schools and lenders for federal preferred loan status,'' the Aug. 1, 2003, memo to Stroup stated.

More recently, Catherine Grant, a spokeswoman for the inspector general's office, stated in an e-mail that it found ``no specific evidence of improper lender inducements and does not have any audits or inspections under way following up on this issue at this time.''

Nevertheless, the inspector recommended that the Education Department ``re-evaluate the anti-inducement provision of the Higher Education Act.''

Martin, who said he is aware of opportunity pools and acknowledges that finance companies may entertain aid officials and appoint them to advisory boards, notes colleges are ``bombarded with lenders.''

Ways to Save
``We've heard of abuses and referred them to the Department of Education, and the department has gone after them. A lot of it is hearsay. But providing gifts to colleges is clearly outside the law. In the final analysis, if a school refuses to certify a loan, it should be reported to the department.''

While most aid administrators are probably acting ethically, don't assume that your college will give you the best deal.

Say you borrowed $20,000 through a 10-year federal loan at 6.8 percent annually. You'd pay $230 a month for total payments of $27,619, which includes $7,619 in interest.

Drop the rate on your loan 1 percentage point and you save $10 a month but $1,214 in total interest. Discounts are available if you compare lenders. The Internet is a good place to start.

With the recent increase in federal-loan rates, it's essential to ask questions:
-- Does your college receive any inducements from lenders? If so, these incentives should be disclosed.

Repayment Fees
-- Do the loans you're applying for have any pre-payment penalties? What would trigger the loan adjusting to a higher rate? Avoid loans with added expenses such as repayment or insurance fees.

-- What kinds of discounts apply to your loans? Can you get a rebate of origination fees or discounts for using auto-debits or paying on time? Keep in mind that the best loan terms are offered to borrowers with the best credit rating.

Although most colleges trumpet academic freedom, that sentiment may not apply to students trying to find the best loan deal on campus. Keep in mind that no matter what the college recommends, you're free to obtain better terms elsewhere.

(John F. Wasik, author of ``The Merchant of Power,'' is a Bloomberg News columnist. The opinions expressed are his own.)

Consolidate Your Student Loans Now, Before July 1, 2006:

2006-02-24T14:04:00.000-05:00

To help fund the No Child Left Behind Act as well as reduce the Federal deficit, President Bush and Congress have changed student loan consolidation provisions of the Higher Education Act, with the added Deficit Reduction Act, to take effect July 1, 2006.

Specifically:

• Interest rates - GOING UP!

• Spousal consolidation loans - GONE!

• In-school consolidation loans - GONE!

If you want to take advantage of these consolidation options before July 1, 2006, please apply now. We'll work with you to maximize grace period and other repayment options that'll be in your best interest.

Ever Wonder Why Student Loan Laws Are the Way Are? Some Insights...

2006-02-24T13:46:00.000-05:00

SALLIE MAE CELEBRATING HUGE WIN IN CONGRESS ON STUDENT LOANS

(Credit to http://www.freemarketnews.com)

If you are at all interested in education, politics or economics, you will probably want to take a couple of minutes from your busy schedule to ponder this matter.

And this isn't about the economic decision Congress recently made to raise interest rates on new student loans.

As much as that decision will hurt students and parents, this change is worse.

They're reducing competition in the marketplace.

For years students and parents have converted their variable rate federally guaranteed college loans into fixed-rate federally guaranteed consolidation loans to lock-in favorable interest rates, in much the same way that homeowners do with their mortgages. And for the same reasons.

But when the new laws, which were just passed as a part of the Budget Deficit Act, go into effect this July, the vast majority of students and parents who have already consolidated, or do so in the future, will be legally barred from ever refinancing again, no matter what other lender later offers them a lower rate.

Legally barred from ever refinancing? Yes. And there's much more to the story.

Borrowers whose loans are owned by a single lender have always been prohibited from shopping around for the best deal when it came time to consolidate. Congress has been promising to repeal that anticompetitive law, know as the Single Holder Rule, but the proposal was mysteriously dropped from Budget Deficit Act at the very last minute.

Chicago Sun-Times columnist Terry Savage, in her February 6, 2006, column nicely summed up the refinancing issue with this question: "If you can refinance your mortgage to take advantage of lower rates, why not your student loan?"

Savage went on to point out that some people would argue that because the government is subsidizing student loans, open market refinancing is not appropriate.

But the facts are well documented: Under the just repealed laws allowing reconsolidation, lenders, not the taxpayers, absorbed the cost of lower rates offered to borrowers. And every government report on the subject clearly documents the fact that the lower the interest rate and monthly payment, the lower the default rate.

Finally, Savage asks, "If refinancing to a lower rate doesn't cost the government any money, why object?"

That's a very good question. And, so far, it appears that the only objections to the concept of open market refinancing are coming from Sallie Mae and the other big lenders who don't want the lure of lower rates tempting their customers to switch to competitors.

Nevertheless, the laws allowing reconsolidation were repealed.

Can you imagine the uproar if homeowners were suddenly told that they could no longer refinance their home loans?

But in the lawmaker's defense, the Budget Deficit Act contained hundreds of pages of changes to current law. So, it's not really fair to say that the lawmakers who voted "yes" on the Budget Deficit Act were actually voting "no" on reconsolidation. In fact, the American Journal recently reported that very few Senators and House Members were even aware of the issue. And the few that had heard about it were incorrectly led to believe that the just repealed reconsolidation provisions were somehow costing the taxpayers money.

Then, adding insult to injury, Sallie Mae, like a football player spiking a ball after a game-winning touchdown, began celebrating. Tom Joyce, a Sallie Mae VP, was quoted as by USA TODAY as saying, "The consolidation loan program was never meant to be a refinancing bonanza for students." And later, his crowing got even louder when he told the Orlando Sentinel, "Smaller corporations will now think twice about getting into the student loan business."

Those ugly statements by Sallie Mae's chief media spokesperson seem to confirm what some industry insiders already suspected: Sallie Mae pretends to have the best interests of the students and parents at heart, while they covertly work to pass anticompetitive legislation that will end up costing students and parents billions of dollars. That's right, billions of dollars.

And the billions lost to higher interest rates resulting from this type of restriction- of-trade legislation will never show up in the Congressional Budget Office cost estimates that everyone in Washington is always quoting.

If you are wondering where those dollars end up, you only need to look as far as the bottom line of Sallie Mae's income statement. That's why they have lobbied so hard for these restrictions. And as of now, they are winning most of the battles and the war.

This story graphically emphasizes the immediate necessity of Republicans and Democrats joining together to reinstate open competition in this very important marketplace. And when it comes to Sallie Mae's requests for legal trade restrictions, perhaps it's time they become reacquainted with two very important letters: N and O. And I am not referring to the abbreviation for New Orleans.

Senator Lamar Alexander, the former Secretary of Education, in recent testimony before the Commission on the Future of Higher Education, said, "I urge you to join me on the bandwagon for deregulation of higher education. The greatest threat to the quality of American higher education is not under-funding. It is over-regulation."

The House of Representatives will soon have a new chair of the committee that oversees student loans. Buck McKeon will be replacing John Boehner, who was just elected House Majority Leader. McKeon is known as a tough and fair-minded businessman who is likely to give this issue a fair hearing. But first, he must hear from someone besides Sallie Mae.

If you want to join Senator Alexander on the bandwagon, please let Mr. McKeon and your U.S. Senators and Congresspersons know that you believe students and parents should be afforded the same rights as homeowners when it comes to refinancing.

You may reach any Senatorial or Congressional office by calling 202-224-3121.

Student Loan Consolidation — It's Your Right, So Take Advantage of It!

2005-08-15T13:37:00.000-04:00

A personal note from Paul Simino, President of Loan Consolidation for Profressionals of America ("LCPA"):

Does this sound like your situation? If you're about to graduate college or graduate school, weighed down by the burden of repaying student loans, there is a solution!

Read on...

"My best friend is in his last year in residency...he was on a 7-year track and incurred over $256,000 in Federal Student Loans and another $60,000 in private loans.

He was only making $65K, so he was starting to second-guess the decision he made to become a dermatologist. He was struggling to make payments on his student loans. On top of that, he had no idea how he was going to continue paying his school debt and try to open up his own independent practice.

Fortunately, the government offers payment postponements — deferment and forbearance. By consolidating his loans, my friend was able to extend his repayment term from 10 years to 30 years, which significantly lowered his monthly payments. Further, he qualified for an economic hardship deferment which allowed him to postpone payments on his loans for 3 years!"

That's why Loan Consolidation for Professionals of America ("LCPA") came into being: given my friend's situation, we knew there had to be an alternative solution.

For all you medical residents, interns and fellows, for all you law students, doctoral candidates, for all you nursing, pharmacy and other health care students, in fact, for any of you with student loans — do not dismay!

There is a solution, along with many tools and resources available to help you manage your student loan debt responsibly and plan for your financial future as a doctor, lawyer, professional (or Indian chief -- sorry!).

That solution is student loan consolidation.

Our advice is free and so is the government's program. We as taxpayers pay for it, so you should take advantage of the rights you have as a federal loan borrower. Your debt is an investment in both your future and the future of your profession in this country.

It is our mission to ensure you have well informed, objective, unbiased resources at your disposal. Hopefully, LCPA serves as one of those resources. Any questions that anyone has, please feel free to email me personally or reply to this post....

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Paul Simino, President
Loan Consolidation for Professionals of America
http://www.onesimpleloan.com
psimino@onesimpleloan.com • 1-877-OneSimpleLoan (877-663-7467)
Simplified Loan Solutions!
Student Loan Consolidation • Reconsolidation • Federal Student Loans
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Deferment while in Medical School? Yes!

2005-08-15T12:35:00.000-04:00

Did you know that you can take advantage of student loan deferment and/or forbearance while you are in medical school and/or in residency?

There are differect criteria for both circumstances:

1) Medical School
Rule (see http://www.onesimpleloan.com/medical_loans.asp)
As long as you are attending a Title IV eligible institution for 6 credit hours or more, your loans are eligible for an in-school deferment status.

2) Medical Residency
Many Rules (see http://www.onesimpleloan.com/forms.asp)
This link will bring you to two links for Deferment and Forbearance. Click on the appropriate link to find out what criteria is required for either payment postponement option.

Recent College Grads - Maximize Your Savings and Maintain Your Grace Period

2005-05-31T09:37:00.000-04:00

If you recently graduated and are still in your grace period (i.e., you have not started repaying your loans), you may be eligible to get an additional 0.60% interest rate reduction for the life of your loans.

Don't delay - this special rate reduction could save you thousands of dollars. You can also request to maintain your grace period while locking in the lowest rate.

Call 1-877-663-7467 or email us at consolidate@onesimpleloan.com.