Student loan debt has become in 2012, what credit card debt was in 2009. Yes, that means one trillion dollars worth of student loan debt. The problem has gotten so bad that people cannot finish their education, because they have fallen to far behind on their current payments, and, having no idea where to turn, simply throw up their hands in frustration.
Here are some interesting facts to prove my point:
- 37 million people in the US have student loan debt.
- 10 million of them have defaulted.
- The average outstanding debt is 23 thousand and growing.
Here is the good news. The Department of Education, has a student loan consolidation program to consolidate federal student loans. Do not assume because you loan may have come from a bank that it is not federal. Let an expert evaluate it.
This is tremendous news for those of you debt oppressed from student loans. Student loan consolidation will provide the following benefits:
- One lower monthly payment
- Income based payment plans which again allows you to afford the monthly payment.
- Lower interest rates on defaulted loans from 18% to7%. This is accomplished by paying off the previous loans which
eliminates any mention of default, and begins to restore credit scores.
- The process also eliminates the IRS from keeping your refund, and the entire process takes less than 2 weeks.
To take advantage of this process and get a FREE student loan consultation. Simply visit: Consolidating Student Loan Debt.