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Government Assisted Consolidation Loans – The Free Federal Program to Consolidate Your Debt and Save

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Government Assisted Consolidation Loans – The Free Federal Program to Consolidate Your Debt and Save

Do you have some federal student loans that are choking your monthly budget? Then the U.S. government may have just the cure with their Government Assisted Consolidation Loans. They are a federal program designed to merge all your debts and bills into a single payment.

This means, that if you have several monthly payments or a number from several different loans, you can make things easier by consolidating them into one single loan to pay off the total debt. This offers you an easy to manage payment, and in most cases, at a lower rate of interest.

The official term for this government program is called Direct Consolidation loans and they are provided to U.S. citizens by the Department of Education.

These Direct Consolidation loans are funded directly by the U.S. government instead of a private lender or financial institution. They allow borrowers to lock in low interest rates and extend their repayment period beyond that provided by the original loan. This results in lower monthly payments for the duration of the new consolidated loan.

How You Qualify For The Program

As stated at the beginning, you must have outstanding federal student loans. Then you must qualify based on your need which is evaluated on the basis of your income, family size and the total outstanding balance of your federal student loans.

Some Benefits Of The Government Assisted Consolidation Loans:

The ability to defer payments up to 3 Years
No payments for the first 6 months
No loan origination costs or fees for consolidation
Extended loan payment period of up to 30 years.

Do You Qualify For Direct Consolidation Loans?

 

Debt Consolidation Vicksburg has lots of quality inforamtion on Debt Consolidation Vicksburg.

Government Funding

For more information on Debt Consolidation Westfield you can visit: Debt Consolidation Westfield

Article from articlesbase.com

cnn debates
Government Funding
Video Rating: 4 / 5

Government Assisted Consolidation Loans – The Free Federal Program to Consolidate Your Debt and Save

Posted on by

Government Assisted Consolidation Loans – The Free Federal Program to Consolidate Your Debt and Save

Do you have some federal student loans that are choking your monthly budget? Then the U.S. government may have just the cure with their Government Assisted Consolidation Loans. They are a federal program designed to merge all your debts and bills into a single payment.

This means, that if you have several monthly payments or a number from several different loans, you can make things easier by consolidating them into one single loan to pay off the total debt. This offers you an easy to manage payment, and in most cases, at a lower rate of interest.

The official term for this government program is called Direct Consolidation loans and they are provided to U.S. citizens by the Department of Education.

These Direct Consolidation loans are funded directly by the U.S. government instead of a private lender or financial institution. They allow borrowers to lock in low interest rates and extend their repayment period beyond that provided by the original loan. This results in lower monthly payments for the duration of the new consolidated loan.

How You Qualify For The Program

As stated at the beginning, you must have outstanding federal student loans. Then you must qualify based on your need which is evaluated on the basis of your income, family size and the total outstanding balance of your federal student loans.

Some Benefits Of The Government Assisted Consolidation Loans:

The ability to defer payments up to 3 Years
No payments for the first 6 months
No loan origination costs or fees for consolidation
Extended loan payment period of up to 30 years.

Do You Qualify For Direct Consolidation Loans?

 

Debt Consolidation Vicksburg has lots of quality inforamtion on Debt Consolidation Vicksburg.

Government Funding

For more information on Debt Consolidation Westfield you can visit: Debt Consolidation Westfield

Article from articlesbase.com

cnn debates
Government Funding
Video Rating: 4 / 5

Related Federal Programs Articles

Save Your Home From Foreclosure With Government Programs

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Save Your Home From Foreclosure With Government Programs

There are so many bad elements to foreclosure that it’s almost difficult to fathom going through that process. Unfortunately it is a reality for many people, though.

If you are in the position where you feel control slipping away and you aren’t sure how to get it back, then it might be time to do something about it. You can save your home by using some of the government programs that are out there. You have to act before it is too late, though. You will have to get yourself into a plan that makes more sense right away.

Hector Milla Editor of the “Stop Foreclosure Loans” website — http://www.StopForeclosureLoans.org — pointed out;

“…So which government plans are the best for this purpose? Many people are turning to President Obama’s loan modification efforts to bring themselves back into a lender’s good graces. The nice thing about these plans is that they have offered solid incentives to those lenders who ultimately want to buy in. Many lenders want to jump on board, so Obama and company have provided them with credits for each customer that they work with on modification. This means that it does not matter if you are working with Bank of America, Wells Fargo, or someone similar. You have a chance to modify your loan…”

How does modification work? Basically it is a program where your mortgage lender takes great strides to bring your monthly payment down if you have faced some sort of issue in the past few months. If you have hit a financial wall and you are paying a huge amount of your monthly income to your mortgage lender, then there is a problem. You cannot possibly hope to sustain that, and the government programs will help you get payments back to levels that are much more sustainable. In order to qualify, you need to have this kind of financial issue and it has to be the direct result of hardship.

“…How is hardship defined? This is a very important consideration as you look to go into one of these programs. Financial hardship can be anything from your spouse dying to you losing your job. It covers pretty much every disaster that you can imagine, especially if that disaster has a direct impact on your ability to make money every month. Additionally, you will find that each lender looks at things on an individual basis, so you will need to consult them for an opinion on your chances…” added H. Milla.

Further information about how to get professional assistance with a mortgage loan modification by http://www.StopForeclosureLoans.org

Government Funding

Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.

More Government Programs Articles

Save Your Home With Government Programs To Stop Foreclosure

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Save Your Home With Government Programs To Stop Foreclosure

Too many people have been put out of their family home over the last few years, so the government has come in to do what they do.

President Obama has been trying to help out the economy and help individual families stay in their homes for the last couple of years, and he’s done this with a few government programs. If you find yourself in a situation where you are in danger of getting kicked out through foreclosure, then you need to think about some of the ways to stop it. At the very least, you need to consider loan modification as a way of saving your home.

Aurora Lillo Editor of the “Best Loan Modification Companies” website — http://www.BestLoanModificationCompanies.com — pointed out;

“…The president has been serious about helping those people who have a serious financial need. The fact is that bad things happen sometimes and when they do, you can run out of options in a hurry. The smart move is to make sure that you are tapped into everything that your lender is willing to do and everything that the government is willing to do. Loan modification is a process where your lender works with you to get your payment down to something that you can handle. It is senseless to pay half of your monthly income to your mortgage lender. That leaves very little money for you…”

With modification, you have to be under that kind of financial pressure and you also have to be in a situation where you’ve suffered undue hardship. What this means for you might be different than what it means for someone else. For instance, your hardship might have been losing your job or being temporarily disabled from an accident. For another person, hardship might be defined as losing a spouse or having their home value drop so much that they owe more money than it is worth. These things are real, and they happen to responsible people all the time.

“…When you tap into your lender’s program, you will be working with both the lender and with the government. Together, they will either cut your interest rates significantly or they will extend your loan term to make payments a little bit easier right now. Modification, in its truest form, will be a way of coming up with a plan that makes sense for your current situation. It is worth looking into, because it can truly help you keep your home in the face of foreclosure…” added A. Lillo.

Further information about how to get professional assistance with a mortgage loan modification by http://www.BestLoanModificationCompanies.com

Government Funding

Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.