consolidation
Loan Terms You Need to Know Part I
Wed, 03/11/2009 - 12:17 | by kcblank67Academic Year: A period of at least 30 weeks (1 semester) of instructional time beginning the first day of classes and ending on the last day of classes usually with examinations. During this time a full-time student is expected to complete at least 24 semester hours (depending on the institutional regulations) equal to 8 classes of 3 credit hours, 36 quarter hours or 90 clock hours.
Automatic Draft (or Direct Repay): The borrower authorizes automatic transfer of funds from checking or savings account to make monthly loan payments.
Recent College Grad
Wed, 11/05/2008 - 16:59 | by cdbraxtonI graduated from a small private college in Ohio this past May. As you can imagine I've been receiving the letters telling me that my student loan payments are coming due this December. At first I started looking to Consolidation. When I applied in July I was denied the agreement because I didn't have a co-signer. No problem some might say, just get a co-signer. I must explain my deal with co-signers. During my third year in school I took out a private alternative loan and had an aunt who VOLUNTEERED to be a cosigner. One of the biggest mistakes of my life because I have her constantly on my back about paying the 10,000 off so that I can get her name off of the loan. Mind you I just graduated and have only worked part time jobs so that I could pay the $100 a month interest payments.
