Student Loan Consolidation May Get You up to 20 More Years to Pay Off Your Student Loans

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If you’re a former student or a college parent with any outstanding federal student loans, you may be able to get up to 20 more years to repay just by consolidating your eligible federal parent or student loans.

If you’re a former student or a college parent with any outstanding federal student loans, you may be able to get up to 20 more years to repay just by consolidating your eligible federal parent or student loans. With that longer repayment term, since you have more time to repay, the amount you have to pay each month will typically go down. You may be able to cut your monthly student loan payments by up to 42% — just by consolidating!

Cut Your Payments on Your Student Loans by up to 42%strong>

Here’s an example of how you can lower your monthly student loan payments when you consolidate your federal href="http://www.nextstudent.com/private_loans/private_loans.asp">college loans and take advantage of a longer repayment term: Estimated monthly payments on a $75,000 student loan consolidation fixed at 7.25% and repaid over an extended term of 30 years are $512, versus estimated monthly payments of $879 on a $75,000 Federal Stafford Loan issued at 7.22% and repaid over 10 years — that’s a 41.8% reduction in monthly payment amount. (Your actual payment reduction may vary and will depend on the terms of the parent or student loans you’re consolidating.

Get More Time to Repay Your Student Loans

Federal PLUS parent loans and Stafford student loans are issued with standard repayment terms of 10 years. You may be able to get up to 30 years to repay these federal parent and student loans when you consolidate them into a student loan consolidation.

How long you get to repay will depend on the total outstanding balance of your education debt: If your outstanding education debt totals $20,000 – $39,999, you’ll have 20 years to pay back your student loan consolidation. If your outstanding education debt totals $40,000 – $59,999, you’ll have 25 years. If you have $60,000 or more in education debt when you consolidate your federal student loans, you’ll have 30 years to pay back your Federal student loan consolidation.

No Fees. No Credit Checks. No Prepayment Penalties.

Even though you can get more time to repay your federal parent and student loans by consolidating, there are no prepayment penalties on a Federal Consolidation Loan, so you won’t be assessed any additional fees for paying more than the minimum each month or for paying off your student loan consolidation early, should you choose to

There are also no application fees, no processing fees, and no credit checks when you consolidate through the federal student loan consolidation program

Replace Your Variable-Rate Student Loans With a Fixed-Rate Consolidation Loan

If you took out your Federal PLUS Loans or Stafford Loans prior to July 1, 2006, those loans are subject to variable interest rates that will adjust every year. So when interest rates rise, your monthly student loan payments may also go up. But you can put an end to rate increases and rising payments when you consolidate your parent or student loans.

The federal student loan consolidation program gives you the security of a fixed interest rate. By consolidating your federal student loans, you’ll replace your variable-rate college loans with a fixed-rate consolidation loan, so you won’t have to worry about interest rates rising and leaving you guessing about your monthly payment amount.

Make Just One Payment for All Your Federal Student Loansstron

If you have multiple student loans in repayment and you’re dealing with the hassle of multiple bills, multiple due dates, and multiple monthly payments to multiple lenders, a Federal Consolidation Loan could help make your student loan repayment easier to manage.

With the federal student loan consolidation program, you can bundle all your eligible federal parent or student loans into one single consolidation loan with just one monthly bill, one lender, and one monthly payment that’s fixed for the life of your consolidation loan.

Consolidate Your Private Student Loans

If you have private student loans in addition to your federal student loans, you won’t be able to consolidate your private student loans under the federal student loan consolidation program. But you may be able to consolidate your private student loans separately with a Private Consolidation Loan, which offers the same convenience of a single consolidated loan for your private student loans.

Forex Trading Systems Make Online Trading Fast And Efficient

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In the FOREX market, you can use two distinct types of trading systems. The first type is the mechanical trading system. The mechanical trading system is relatively easy to use because an automated process makes all trade decisions for you. This trading system is based on technical and systematic analysis. Traders call it mechanical trading because they use computers to get trading signals.
At the other side of the spectrum, the discretionary trading system uses gut instincts. It is based on an investor's experience, knowledge, and intuition. Some investors choose to use mechanical systems to understand current market conditions, and then analyze the details on their own before trading.
Mechanical Trading SystemOf course, most FOREX traders use the mechanical trading system, simply because it automates the process and you can set it up with little effort. It is the easiest way to become a FOREX trader because it requires less training and education than discretionary trading. Mechanical trading systems are widely available online and some software is available in stores.
Mechanical trading systems take the human element out of FOREX trading. Through such a system, you have no opportunity to make trading decisions based on greed, gut feel, or bad judgment. Because a wise investor always invests with his head and not with his heart, mechanical trading can help those investors who often base his or her decisions on emotions.
In recent years, the internet has made FOREX trading much easier by providing online trading platforms. The brokerage firm you use will provide one for you. Some brokers have also developed mechanical trading systems that their clients can use to trade. You can buy this separately, or have one provided for you. Your broker may also provide valuable tools like economic calendars, detailed analyses, and current currency charts. If your broker does not provide these to you, you can buy them on your own or find a different brokerage firm to work with.
Discretionary Trading SystemsEven when you opt to use the FOREX mechanical trading system, you should still understand the basics of the FOREX market to become an informed investor. There are various courses and books on becoming a FOREX trader and you should take full advantage of them.
Those with limited knowledge in this area can gain just from testing a broker's trading software. The trading software can easily teach you terms, how to read charts, and some basic trading theories. Used with a book or online course, you can quickly grasp the principles behind FOREX. An informed trader can therefore use both discretionary and mechanical trading systems to achieve maximum profits.
If you're interested in entering the FOREX market, carefully consider your choices. It may be best to start off by using mechanical trading systems before deciding of your own. In this way, you can minimize losses and lessen the risk of betting over your head. Once you are familiar and learned, you can start setting up the discretionary system of trading. Stay educated; it will pay off
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