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STUDENT LOAN 

DEBT SOLUTIONS!

Contact us today to speak with our experts

REAL STUDENT LOAN HELP!

 

We offer solutions to your student loan debt obligations that will save you time and money!

Each Credilife® Student Loan Specialist is trained in the variations of federal government debt relief programs as well as the technical aspects of accessing the details of a your outstanding student loans. Trained to take into consideration not only the programs that have been made available to help borrowers reduce the burden of repaying their student loan debts, but also the impact of each program on a borrowers short and long term credit related goals, and the responsibilities toward a variation of commitments dependent on the program type selected.

We strive to help borrowers understand the federal direct loan program and the 5 repayment plans, as well as private student loan refinance options.

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YOUR STUDENT LOANS

 

Student loan debt has become an epidemic. We will help to evaluate and understand your options for student loan debt relief through student loan consolidation options, or rehabilitation programs in cases where a student loan has already gone into default.

We will review the status of your existing student loan debts, your current financial situation, and credit status, as well as a variety of other factors dependent on each program type. With these details we are able to identify the programs that you qualify for including federal programs for student loan debt forgiveness eligibility.

After careful consideration of each option, and the potential impact on your short and long term goals, we will help to facilitate the consolidation or rehabilitation process. We hold ourselves to the highest ethical and public serving standards, and we love what we do! If you have any questions concerning yourself or someone you know who is looking for guidance concerning their student loans, please do not hesitate to give us a call and schedule a free, no obligation assessment.

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Posted on October 9, 2020 by Brian Del Terzo

YOU WANT STUDENT LOAN FORGIVENESS? DO THIS ASAP!

Portrait of pretty student looking at camera while working in college library YOU WANT STUDENT LOAN FORGIVENESS? DO THIS ASAP! As if dealing with student loans wasn’t tough enough, now getting them forgiven is a hassle. A new report found that borrowers trying to qualify for forgiveness have had to put up with a plethora of loan

Posted on October 9, 2020 by Brian Del Terzo

THE STUDENT LOAN ZONE

THE STUDENT LOAN ZONE Student loan debt has soared to $1 Trillion in the United States. With the cost of higher education rising every year, student loans are the only way many students can afford college. If you are one of the nearly 40 million people with student loans & need help, seek out the

Posted on October 9, 2020 by Vickie An

STUDENT LOANS 101: WHAT YOU NEED TO KNOW ABOUT REFINANCING YOUR DEBT

STUDENT LOANS 101: WHAT YOU NEED TO KNOW ABOUT REFINANCING YOUR DEBT Brought to you by First Republic Bank With the price tag on higher education growing steeper every year, it’s become routine for most graduates to head into the real world not only with a degree, but also with about five figures of debt.

Posted on October 9, 2020 by Brian Del Terzo

PRIVATE VS. FEDERAL STUDENT LOANS

PRIVATE VS. FEDERAL STUDENT LOANS For most families, student loans are a big part of financing a college education. While student loans are quite easy to get, they aren’t as easy to understand. There are so many payment plans, variable interest rates, consolidation, and other options that muddy the waters. One common source of confusion

Posted on October 9, 2020 by Brian Del Terzo

HOW TO GET STUDENT LOANS FORGIVEN

HOW TO GET STUDENT LOANS FORGIVEN The college years can be among the most fun years of your life, even with all that hard work and studying, the all-nighters and the exam anxiety. But if you’ve taken out student loans to help you get through the college years financially—and many students have—your future financial burden

Posted on October 9, 2020 by Eric Rosenberg

HERE’S EXACTLY HOW STUDENT LOAN INTEREST WORKS

HERE’S EXACTLY HOW STUDENT LOAN INTEREST WORKS Back when you signed the dotted line and took out your student loans, how well did you understand the terms? Maybe things were a little fuzzy, but you knew you needed them to pay for college. Student loan interest is one of the more complicated aspects of student loans.

Posted on October 9, 2020 by Brian Del Terzo

CREATE YOUR FEDERAL STUDENT AID ID

CREATE YOUR FEDERAL STUDENT AID ID In 2015, FAFSA (Free Application for Federal Student Aid) switched from using a four-digit PIN to a more secure Federal Student Loan (FSA) ID. If you haven’t already, you’d be well advised to create your FSA ID for imediate access to Federal Student Aid’s online systems. It also serves as a

Posted on October 9, 2020 by Brian Del Terzo

5 TIPS TO PAY OFF YOUR STUDENT LOANS IN RECORD TIME

5 TIPS TO PAY OFF YOUR STUDENT LOANS IN RECORD TIME It can be quite difficult for students to put themselves through college because of the costly tuition fees. Most students will take out private or public loans to help pay for their studies. However, the drawback to these loans is that it can often

Posted on October 9, 2020 by Brian Del Terzo

4 MUST KNOW FACTS ABOUT OBAMA’S NEW STUDENT LOAN PLAN

4 MUST KNOW FACTS ABOUT OBAMA’S NEW STUDENT LOAN PLAN Student loan borrowers affected by the changes proposed for 2015 should still be research repayment options and choose the plan that best fits their budget. President Barack Obama announced some big news this week that stands to help many student loan borrowers. Most people met

FREQUENTLY ASKED QUESTIONS

Should I consolidate my loans?

Carefully consider whether loan consolidation is the best option for you. Loan consolidation can greatly simplify loan repayment by centralizing your loans to one bill and can lower monthly payments by giving you up to 30 years to repay your loans. You might also have access to alternative repayment plans you would not have had before, and you’ll be able to switch your variable interest rate loans to a fixed interest rate. However, if you increase the length of your repayment period, you’ll also make more payments and pay more in interest. Be sure to compare your current monthly payments to what monthly payments would be if you consolidated your loans. You also should consider the impact of losing any borrower benefits offered with the original loans. Borrower benefits from your original loan, which may include interest rate discounts, principal rebates, or some loan cancellation benefits, can significantly reduce the cost of repaying your loans. You might lose those benefits if you consolidate. If you want to lower your monthly payment amount but are concerned about the impact of loan consolidation, you can consider reevaluating your budget and income situation. You can also consider deferment or forbearance as options for short-term payment relief needs. Once your loans are combined into a Direct Consolidation Loan, they cannot be removed. The loans that were consolidated are paid off and no longer exist.

What are the requirements to consolidate a loan?

Here are some tips on qualifying for a Direct Consolidation Loan: You must have at least one Direct Loan or FFEL Program loan that is in a grace period or in repayment. If you want to consolidate a defaulted loan, you must either make satisfactory repayment arrangements on the loan with your current loan servicer before you consolidate, or you must agree to repay your new Direct Consolidation Loan under the… Income-Based Repayment Plan, Pay As You Earn Repayment Plan, or Income-Contingent Repayment Plan. Generally, you cannot consolidate an existing consolidation loan again unless you include an additional Direct Loan or FFEL Program loan in the consolidation. However, under certain circumstances you may reconsolidate an existing FFEL Consolidation Loan without including any additional loans.

What is Credilife®?

Credilife® is an established, ever evolving, compliant, accurate, and successful Credit Life Improvement Program that thrives on customer service, research, and strategy. The result? A blueprint for success with great purpose. A credit services organization need not subscribe to Credilife® to be credible, but for those that do, rest assured, they are working to raise the bar for the industry as a whole when it comes to helping consumers improve their credit, get out of debt, and carve a new path toward financial independence. Through a combination of coaching initiatives, budgeting and credit building strategies, complemented by a factual technical credit disputing process, Credilife® is much more than a traditional credit repair program. See the Credit Builder Blueprint® as an example of the additional effort that is placed into ensuring each consumer’s successful transition from credit challenged to a viable, healthy credit life! We believe in promoting strong affiliate awareness because a healthy referral network made up of select industry professionals is the best way to find consumers that are motivated and deserving of such an opportunity… goal driven consumers, who are motivated and prepared to embark on a path that will lead to a future full of opportunity… diamonds in the ruff! Ready to join us, or want to know more? Connect with one of our affiliated businesses to subscribe to a new way of life… a Credilife®.

What is the interest rate on a consolidation loan?

A Direct Consolidation Loan has a fixed interest rate for the life of the loan. The fixed rate is based on the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of 1%. There is no cap on the interest rate of a Direct Consolidation Loan.

What types of loans can be consolidated?

Most federal student loans, including the following, are eligible for consolidation:

– Direct Subsidized Loans
– Direct Unsubsidized Loans
– Subsidized Federal Stafford Loans
– Unsubsidized Federal Stafford Loans
– Direct PLUS Loans
– PLUS loans from the Federal Family Education Loan (FFEL) Program
– Supplemental Loans for Students (SLS)
– Federal Perkins Loans
– Federal Nursing Loans
– Health Education Assistance Loans
– Some existing consolidation loans

Private education loans are not eligible for consolidation. If you are in default, you must meet certain requirements before you can consolidate your loans.

A PLUS loan made to the parent of a dependent student cannot be transferred to the student through consolidation. Therefore, a student who is applying for loan consolidation cannot include the PLUS loan the parent took out for the dependent student’s education.

A complete list of the federal student loans eligible for consolidation is available in the application.

When can I consolidate my loans?

Generally, you are eligible to consolidate after you graduate, leave school, or drop below half-time enrollment.

When do I begin repayment?

Repayment of a Direct Consolidation Loan can begin 60 days after the loan is disbursed, or sooner. Your loan servicer will let you know when the first payment is due. The repayment term ranges from 10 to 30 years, depending on the amount of your consolidation loan, your other education loan debt, and the repayment plan you select. Note: If any loan you want to consolidate is still in the grace period, you can delay entering repayment on your new Direct Consolidation Loan until closer to your grace period end date. You will indicate this when you apply, and the consolidation servicer will wait to process your application until the appropriate time.

VIDEOS

Dave Ramsey | $136,000 debt and a $20,000 income? That’s stupid!

PBS Looks Into The Student Loan Problem

Scholarslip: A documentary about the student debt crisis

Tonight with John Oliver: Student Debt

Voices of Debt – The Student Loan Crisis: Don’t Major in Debt

GLOSSARY

Academic Year

This is the amount of the academic work you must complete each year, and the time period in which you are expected to complete it, as defined by your school. For example, your school’s academic year may be made up of a fall and spring semester, during which a full-time undergraduate student is expected to complete at least 24 semester hours, usually called credits or credit hours, over the course of 30 weeks of instructional time. Academic years change from school to school and even from educational program to educational program at the same school. For purposes of the Teacher Loan Forgiveness Program, an academic year is defined as one complete school year at the same school, or two complete and consecutive half years at different schools, or two complete and consecutive half years from different school years (at either the same school or different schools). Half years exclude summer sessions and generally fall within a 12-month period. For schools that have a year-round program of instruction, nine months is considered an academic year.

Accreditation

Confirms that the college or career school meets certain minimum academic standards, as defined by an accrediting body recognized by the U.S. Department of Education. Schools must be accredited to be eligible to participate in federal student aid programs.

Additional Eligibility

From the 2009–10 award year through the 2010–11 award year, eligible students could receive up to two Federal Pell Grants within a single award year. The Additional Eligibility field on the Grant Detail page in a student’s My Federal Student Aid account indicates whether a student was eligible for two Pell Grants in a single award year.

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