College Loan Consolidation, Federal Loan Consolidation, Private Loan Consolidation, Student Loan Consolidation

America's Top Student Loan Provider

Free Yourself from Financial Plague, Part 1
While student loans are a huge financial burden, it certainly isn't the only form of debt that most college grads carry. According to the College Board, the average student graduates from college with more than $2,700 in credit card bills. That's just the average, of course. Many students have lots more debt than that; some have none. But if you've been battling the credit card blues, take heart. You can whip that seemingly unbeatable monster called credit card debt. You just have to know the best strategies to do it—and be willing to implement a proper plan of action.

Personally, I do not agree with 99% of the experts out there who say you should pay off the high-interest debt first. My reasoning is simple: that strategy didn't work for me when I had $100,000 in credit card debt. And frankly, I haven't seen it work for thousands of others of people who are struggling with credit card bills despite their best efforts to tame the credit card beast month after month, or year after year. I believe you must attack your area of pain first to get the psychic and economic rewards of paying off your debts, and to keep yourself motivated.

I managed to pay off my debts in three years—without paying off the cards with the highest interest rate first. Some of you may wonder how that is possible, or even why I would not pay off high-rate debt first. Well, in my case, the problem wasn't really that I had high interest rates at all. In fact, even though I had a massive amount of credit card debt, I never missed a single payment. That kept me in good graces with my creditors, and allowed me to maintain relatively low interest rates. When I called up creditors to negotiate, I had leverage.

If a card had a moderate interest rate, with one simple phone call I was usually able to get it knocked down. At one point, all of my credit cards had interest rates below 6.9%. I had some at 4.9% and several, in fact, that were at 0%. The point I'm getting to is that for many consumers, the interest rate on their debt is not the true problem. The real culprit may be something else.


Article Title : Free Yourself from Financial Plague, Part 1
Comment not found for this article.

Related articles
• Free Yourself from Financial Plague, Part 2
• Free Yourself from Financial Plague, Part 3
• What to Do If You Receive a Wage Garnishment Notice, Part 1
• Repayment Assistance Programs, Part 1
• Credit Card Tricks, Part 1

Share this story:
  • BlinkList
  • blogmarks
  • Digg
  • Facebook
  • Google
  • Sphinn
  • MySpace
  • NewsVine
  • Simpy
  • StumbleUpon
  • Technorati
  • E-mail this story to a friend!
  • Print this article!
  • Faves
  • Furl
  • Netvouz
  • Slashdot
  • Spurl
  • Yahoo! Buzz

EdFed introduces… Awareness… Learnal
At, EdFed, we proudly introduce 'articles on student loans' and 'Learnal - the journal to learn from', our free newsletter on student loan management, which is sure to keep you informed of the latest events and happenings in the student loan market. To receive your copy of the above just use the RSS feed below and add this to your "My Yahoo", blogs, newstickers, and other similar channels accepting distributable content.
Click here to sign up for our Weekly Newswire now!

How EdFed Helped others!
Thank you, and I definitely will refer anyone that needs loan consolidation.
- Kristie B.  Los Angeles, CA
* Your Name: * Your E-mail Address:

We respect your privacy.
* Your Friend's name: * Your Friend's E-mail address:
Include a Message:
+ Privacy Policy

Student Loan Consolidation Info - How to Choose the Right Loan Company

This column is sponsored by Granted, America's top job search engine. The Career Resources column is presented by Granted, America's leading job search engine dedicated to getting people jobs.

Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.

read more
Schools Will No Longer Receive Paper FAFSA Forms
(September 20, 2007)

news desk
Stafford Loan Payment Calculator
PLUS Loan Payment Calculator
Loan Consolidation Payment Calculator
Glossary of Terms
Loan Comparison Chart
Scholarship Search
One of the most common reasons college graduates hesitate to consolidate their federal loans is they do not understand the huge benefits of doing so. Browse this site to learn more about the benefits of consolidation.
US School Directory
Comprehensive List of Schools at which EdFed Assists Students.
EdFed is a FFELP lender with lender identification number 834241.
© Copyright 2016 EdFed. All Rights Reserved.

Home · About Us · Contact Us · News · Sitemap
Career Advice · Tell a Friend · Privacy Policy · Resume Service
Resume Distribution Service · Post Resume · Job Search Course
Sign up for the latest news on student loans.
Email Address:
+ Most Recent Newsletter
+ Newsletter Archives