Tuesday, February 6, 2007

Student got free education due to loan error

Many people know that the best way to lower your student and school loan debt is to consolidate student loans.
In general there are two basic kinds of school loans - private and federal. In contrast to Private school loans federal loans are in a way less popular. It's all because of the nature of the federal loans. Mind you can never consolidate both private and federal loans into a single private loan. That is because only federal loans carry government's support, and what's more they can be refinanced then at a reduced interest rate than can privately financed school loans. So in case you come to consolidate school loans, do the federal loans together then look at consolidating your private student loans.
People are keen on money nowadays, they try to make money even out of air. Jeremy Wilson, a former student of Huston University, finished the high school in 2001 and had a plan of entering the university. But as many American students he was short of money. He decided to find a way out, and as the Private student loan consolidation rate was very law that was a kind of goal for him at that time. The whole procedure is not difficult at all. There are no fees, no credit checks, application or origination charges associated with your application. In other words if you have no money at the moment you can loan the money for your education. Jeremy loaned money in 2001 in August and entered University. That was a hard period of time for him and he hesitated what to do then: to continue his education or to give it up, as he was unable to pay for the loan. But fortunately he was a quick minded person and occurred to take one more student loan consolidation rate and cover the first one this way. Being a third year student of the University he was able to get fixed up in a job and earn good money. In spite of the fact that Jeremy was not able to pay for the loans the first two years of his studying, he managed to postpone the time of returning the money.

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