Student Loan Consolidation Center

Loan Consolidation might be the solution to extend your loan deferral period, besides, debt consolidation will work for anyone right?

 

Well, that is more like a cheeky statement than anything else. It is not as simple as I have stated it above. In this life and particularly in these hard economic times, everyone is looking for that “sunshine day.” Alright people, put on your dark glasses and let me help your dilemma in these tough times by giving you a dose of a beneficial tip that a lot of folks are not aware of.

 

Firstly, what inspired this article was getting innumerable questions from people about this subject. A lot of people have been wanting to know if there existed a way for them to defer their student loan farther than the approved 3 year period. With the federal jobless rate now standing at 8.1% (March 2009), meaning there are going to be more defaulted loans being added to the system except that students are able to defer their loans longer.

 

So now the question is, how can you extend your student loan repayment for a further 3 years after the standard deferment period? Assuming that you are yet to consolidate your student loans with the Department of Education’s Direct Loan Center, then your loans can be transferred to them (re-consolidated) and that should give you a fresh 3 year deferment gain. It’s that simple. Therefore if your loan is presently with Salle Mae, Suntech and Chase, simply reconsolidate your student loans with the Direct Loan Center and you’ll extend the deferment period.  

 

Just remember that reconsolidation will not change your rates, and your current borrower benefits will not carry through to the Direct Loan Center. However, reconsolidation achieves your main objective of wanting to extend your deferment period.

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