Like many in America, money is tight and budgets are being stretched to the limit. If there are numerous student loans, then it may be time to think about consolidating all the student loans into one neat package. A free student loan consolidation calculator may give all the answers needed to make this decision.
What are the Benefits of Consolidating Student Loans?
There are many benefits of taking out a student loan consolidation. With the help of this free student loan consolidation calculator, the student may look at all the advantages easily. Here are some of the main advantages of taking out a consolidation loan:
* Reduced monthly payments.
* Reduced monthly paperwork.
* Consolidation loan interest is tax deductible.
* Extended payment period.
* Fixed interest rates offered on many consolidation loans.
Government Student Loan Consolidation CalculatorThis federally maintained website has many calculators and much information about applying for a Government Student Loan Consolidation and a regular student loan also. The site is very extensive in giving all details for applying, what happens when the student is in school and how the loan is to be repaid after leaving school. Here is a list of the calculators that are offered on their website:
* Budget calculator
* Standard, extended and graduated repayment plan calculator
* Income contingent repayment plan calculator
* Income-based repayment plan calculator
* Direct consolidation loan calculator
There are many companies and the wise student should compare student loan consolidation offers and then decide. A free calculator is a marketing tool to convince the borrower that they can indeed save money by taking out a new loan.
Written By jeremy hunk on Sunday, June 13, 2010 | 7:48 AM