Consolidating Your Government Student LoansWritten by Dale Ronewicz
A Consolidation Loan allows you to combine your federal student loans into a single loan with one monthly payment, which can be significantly lower than payment required under standard 10-year repayment option. Under Federal Family Education Loan (FFEL) Program, banks, secondary markets, credit unions, and other lenders provide Consolidation Loans. Under William D. Ford Federal Direct Loan (Direct Loan) Program, federal government provides loans.Most federal education loans are eligible for consolidation, including subsidized and unsubsidized Direct and FFEL Stafford Loans, SLS, Federal Perkins Loans, Federal Nursing Loans, and Health Education Assistance Loans. Private education loans are not eligible. PLUS Loan borrowers (parent borrowers) also can consolidate their loans. To apply for a Direct Loan Consolidation or an FFEL Consolidation borrower must contact lender and complete an application. Most lenders provide borrowers with ability to apply on-line or request an application over telephone. Once an application is completed and submitted, lender will request information from borrower’s other lenders or from its own system to determine amounts outstanding on borrowers loans. The borrower will then receive notification about consolidation loan, normal consumer disclosures, amount owed, and if appropriate, where to make payments.
| | Are you sick of the Financial Insecurity of Fluctuating Seasons and Income?Written by Mandy Nield
Find a stable and secure income that will come year in, year out, no matter what happens on farm. By investing off farm, you are not only providing a secure income now, but also preparing for retirement. This IS attainable by all levels of income earners and people of all ages.I am a farmer’s wife and have lived through some good and bad seasons on farm. If farming was all about money, then we wouldn’t still be here. Most of us farmers genuinely LOVE lifestyle that farming brings. However, being a ‘city girl’ and marrying a farmer, I struggle with insecurity and irregularity of income. These days, you’d have to be a top financial professional to get it right 100% of time. Some years we seem to have plenty of money and other we’re in debt before we even start paying for seeding expenses (and that doesn’t even include tax due!). Does this sound familiar? Well, I’ve got some great news for you. I have discovered a way that provides a regular income that is not affected by rainfall! My husband and I have been investing in real estate now for a couple of years and have found that even in bad times, we still have that income to fall back on. This brings real ‘peace of mind.’ Trust me, it’s really not as hard or as expensive, as it sounds, and we as farmers have an extra huge benefit that we can take advantage of, and that is – fluctuating seasons and income! (I bet that’s a surprise!)
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