Which Better Payday Loans or Pawn Shops? - Payday loans can be beneficial to you and a temporary finance-saving help to turn to when you are having a crisis. But on the other side it can turn into a horrible financial or debt-trap as many pawnbrokers have become to their customers. However, payday loans online are completely different from pawnbrokers, although the similarities are great.

Pawnbrokers would usually ask for your property as collateral to guarantee your loan. Usually the amount of money you are applying to borrow is only a fraction of the property’s value. To easily understand this, you may bring in your car as collateral which is valued $3,000 but you only receive $1000 as a pawn loan. The pawn shop will charge you interest on the loans which is usually a short term loan that lasts for one month. By the end of the month you are expected to pay back the amount of money you borrowed plus the interest that the loan has accrued.(see HERE)
Should you fail to repay the loan and interest on time, the lender will sell your property in order to get the money back but then also earn profit as the value of the property is significantly greater than the money they lost by lending to you. Pawn shops would usually not send you any reminders to repay the loan and will just sell the property without notice when the loan term is up and no payment has been made.
Payday loans online, however, does not require you to have a collateral to be eligible for a loan. The application for a loan is easier as you can do it online from home. All you need to do is to prove that you earn money which is directly deposited into a bank account. A legitimate payday loans online company will then verify this information.(see HERE)
Once you are approved to get a loan, the money will be available to you within about 24 hours. You are usually given a little time to repay the money without having any interest accrued to the loan. Usually payday loans companies give you 2 weeks to repay it. If after 2 weeks you are still unable to pay, then the interest will begin accumulating.
Before deciding where to get your loan from this time, make sure you ask a lot of questions first . Payday loans are usually competitive with one another and it is best for you to consider a few companies first before making any decisions.

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Student Loan Defermest - Deferring payment on student loans is necessary when circumstances prevent a borrower from staying current on payments. There are many types of deferments available depending on the kind of student loan and the situation. For instance, deferments on private loans are completely discretionary to the lender. If a private lender wants to grant or deny a deferment they can, without consequences. Ironically, they may also charge a borrower requesting a deferment because they're unable to pay. Sallie Mae often charges $150 for a three month deferment.

For deferments of federal loans there are rules to be followed and made available to borrowers. The most common deferment on a federal student loan is the "in school" deferment. In other words, if a borrower is

in school for at least half-time, payments on the federal loans will be deferred. For Stafford loans there are also deferments available when a borrower is unemployed, in a rehabilitation training program, in a graduate fellowship, in the military service or following active duty, temporarily totally disabled or caring for a disabled spouse or dependent. Deferments are also available for economic hardship.

Economic hardship deferment applications must be in writing and can be issued in one year increments for a maximum of three years. To qualify for an economic  hardship deferment a borrower must show that they are receiving federal or state public assistance, are a Peace Corps volunteer, have an economic hardship deferment on another loan or is working full time but still at 150% of poverty. An unemployed borrower seeking a deferment must be registered with an employment agency and must show proof of eligibility for unemployment benefits. To obtain an economic hardship deferment on a Parent PLUS loan, all cosigners to the loan have to be unemployed.

In addition to deferments, borrowers can verbally request a discretionary forbearance for causes such as poor health or other personal problems. While a forbearance may be needed for a short term crisis it's important to remember that when a forbearance ends, all interest is capitalized, creating a long term significant increase in the amount of the student loan debt.

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They Won't They Let Education-Loan Debtors Refinance  - Just about any time I turn on the radio, I hear an ad exhorting people to refinance their loans.  Interest rates are lower than they've been in decades, those ads remind us.  Even some people with less-than-stellar credit--including those whose home mortgages are "underwater" or even in foreclosure--are getting those rates.

It's not only the homeowners who've overpaid for their McMansions who can refinance.  People with credit card debt, even if it's a result of gambling, will be considered for lower interest rates, especially if they have collateral--including homes with "underwater" mortgages!  Car loans aren't exempt from consideration, either.

In fact, there's only one kind of loan for which it's all but impossible to get lower interest rates.  Since you're reading this blog, you've probably guessed what it is:  Federally-guaranteed student loans. 

The government and banks point fingers at each other when it comes to this issue.  The government blames the banks for not wanting to reduce the interest rates on such loans, which are often carried by people who don't have collateral.  The banks blame the Federal government for regulating the interest rates on those loans. 

Of course, both sides don't want to give up the handsome profits they're making.  They also realize that most student debtors are a captive market:  Unlike, for example, credit card holders who can shift their balances from, say, Capital One to Barclays, those who are struggling to pay education loans don't have the option of moving their debts and balances to another credit provider.

Plus, the loans are one of the few areas in which the Government actually makes a tidy profit.  According to the Center for American Progress, these loans are expect to give Uncle Sam over $34 billion in profits this year by financing $864 billion of the $1trillion in outstanding student loans. In the current budget environment, nobody wants to ask the government to cut off such a cash cow.

Most of those loans are saddled with interest rates of 6 percent or more.  According to the CAP, simply applying a rate of 5 percent to all student loans that currently have interest rates higher than that will save borrowers around $14 billion. 

Then maybe, just maybe, they could take advantage of those lower interest rates on home and other kinds of loans. And they might start to buy the homes, cars and other things their parents were able to buy without having gone to college and endebting themselves for the privilege.

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HR 432, Restoring Bankruptcy Protection Rights To Student Loan Borrowers - Last Wednesday, HR 432, which would allow private loans to be discharged in bankruptcy, was introduced by Congressmen Danny Davis (D-Ill.) and Steve Cohen (D-Tenn.). This is the fifth time that that this type of legislation has been presented for passage.

As most of my readers are aware, I am in full favor of restoring bankruptcy protection rights to borrowers with private student loans. The same goes for federal loans, too. However, there are valid concerns about the potentially, negative consequences of a bill like this passing - this is always the case when legislation is passed. That's to say, the outcome can result in unforeseen problems. The most significant concern I have is the following: if the bill passes, Congress and higher education policymakers might pat themselves on and declare, "The problem is

solved, so there is nothing to worry about now." That is not what we want our dear Congressmen, Congresswomen, and policymakers to conclude! Far from it.

And, as I've mentioned previously, the lenders, who are culpable - just as the U.S. government is - in creating this crisis, would not be held accountable if this law were passed. Furthermore, bankruptcy is not a walk in the park. It is a difficult procedure, which would in the end hurt the borrowers (not to mention taxpayers, too).

Again, I want to be clear - bankruptcy protection rights need to be restored. In fact, they should have never been taken away in the first place. Indeed, they were taken away as a result of false claims made about scores of doctors and attorneys, with high levels of student loan debt, who purportedly rushed to bankruptcy attorneys, declared bankruptcy, and got off the hook in - if memory serves me - the late 1980s and 1990s. Based upon extensive research I have done, searching to find proof of this fact, I haven't found a shred of evidence that confirms the claim. In fact, the argument reminds me of President Reagan's problematic description of the black "welfare queen" who, so he fallaciously claimed, abused the welfare system, bought fancy cars, flashy clothing, and so forth. While there are people who do abuse the welfare system, the majority of recipients use the support to feed and clothe their families. In addition, these people, who receive a minimal amount of support from the government, are also the working poor, a class of people in the U.S. that continues to grow - unfortunately - exponentially. Furthermore, the majority of welfare recipients are not African Americans, but poor, whites who live in the South in rural areas. Mind you, whites make up the majority of Americans, but it is a important reminder of how this remark by President Reagan became part of the national conversation as an accepted truth, one of which has had negative ramifications for the welfare system and those who receive support from it. This assertion led to an aggressive dismantling of the system. Naturally, the same goes for the myth that countless doctors and attorneys recklessly declared bankruptcy after they earned their degrees.

The bill is currently under review by the House Committee on the Judiciary.

What do you think? Will it pass, and if so, will the results be positive? Why or why not?

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Money Does Not Grow on Trees - It has now been over one month since my student loans entered repayment.  One month of numerous letters, emails, and telephone calls.  The letters arrived first to remind me of my upcoming payments.  Then the emails began and finally telephone calls.

     In reply, I have sent mail to all of my lenders and I have called them.  As I have stated in earlier posts, my lenders are unwilling to make different repayment schedules based on my financial situation.  That is, with the exception of my federal loans.
     My federal loans account for approximately $33,000 of my student loan debt.  Therefore, they represent about 25 percent of my total debt.  $33,000 is by no means a small amount and so I applied for Income-based Repayment.  I applied about a month ago through the Department of Education’s website and Nelnet.  It was a simple process that took approximately 15

minutes to complete.  Income-based repayment, or IBR, uses tax information from the IRS to determine how much money is owed per month.  Since I had current IRS information, a lot of work was streamlined.

     The decision has now been made regarding my application.  I found out this past week that I qualify for the IBR plan.  Five loans are under the plan, which amounts to $26,800.  Since I qualify, my monthly payments have been reduced from $304.55 to $0.  Yes, zero dollars.  The reason for that is because of my total debt to income ratio.  Although I wanted to qualify, I was unsure if I would.  Now that I have, it’s a good start to my student loan debt.

     By saving the $304.55 per month, my income almost covers my private loan debt.  However, I am still in the red by about $100 per month.

     Now that I know I qualify for the Federal guidelines of the IBR plan, it reaffirms my commitment in seeing new repayment plans for private loans.  If private lenders adopted a similar plan to IBR, student loan debt would be manageable.

     I am thankful for the Federal repayment plans and am hopeful that they will one day extend to all student loans.  After all, Money Doesn't Grow on Trees.

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How To Applying Online For Apprentice Loans - After admission top school, a lot of of us accept some abashing apropos our added education. It is never an simple decision, accessory Universities. Universities are expensive, although you can yield out a loan, it will yield years to pay aback even if you become acutely acknowledged with the career choices you make.
Today, ample numbers of lenders are accessible in bazaar to action you academy loans. Due to added competition, some lenders are alms adorable apprentice accommodation bales even with assorted liberties in repayments like transaction holidays. That’s why acceptance are brash to accomplish a analysis on their own afore finalizing a deal.

You can use Internet to seek for clandestine apprentice accommodation as able-bodied as government apprentice loan.

WHY administer online for apprentice loans?
1. Online apprentice loans are affordable with actual low amount of interest.
2. They are unsecured, so your home disinterestedness or retirement accounts are never at risk.
3. They are actual simple and fast, crave no government forms and no borderline and quick approval.
4. Online apprentice loans accord you adventitious to acquire on your investments and savings.
5. Crave no paperwork.
HOW to administer online for apprentice loans?
You can administer via lender or can anon login to the website, and can administer for an online apprentice loan.
If you are a graduate, you will be asked to accommodate the afterward information:
1. Information , name and abode of the applicant.
2. Two Personal references.
3. The Balance and amount of absorption of your accepted apprentice loans.
4. Your best of online apprentice loans transaction plan.
As a cessation online apprentice accommodation are easy, beneath time consuming, charge no cardboard plan and action you apprentice accommodation with aggressive absorption rate. However it is recommended that you accomplish a absolute analysis online to accept the best deal. Do not postpone, you can save a lot of money by accepting a apprentice loan.

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Start Save Money to Pay Down Student Loan Debt Tax Act 2013  - How would you like to pay off your student loan debt?
As a mother of seven children who are young adults and college educated, I know what it is like to struggle to pay for school and manage student loan debt.
Be free of student loan debt
I believe that every person can be free from the worry of student loan debt and pay them off by following steps to save money.
The key is to free up funds to put toward retiring those debts. It’s also important to write a check (or make a payment online) toward the loan at the time you save the money.

Otherwise, your hard work at cutting back will only get reabsorbed into the family spending.

Here are some key areas where you can begin to reach that goal.

Save in Your Community

Begin the savings adventure close to home by supporting your local schools and businesses.

    School Discount Cards – Help your favorite student by purchasing their schools discount card, almost every school offers these as part of their fundraisers.Each card costs around $10 and is good at dozens of local businesses for savings on things like oil changes, dry cleaning, haircuts, pizza and more, depending on the card. We saved loads at a local coffee shop’s “buy one/get one free” offer. My friends kept wondering why I chose the same location each time we met for java but I saved $350 over the course of a year!

    Entertainment.com offers a coupon book and costs between $25 and $45. Preview the coupon booklet for your area first. You’ll save on movie theaters, theme parks, sporting events, and at local shops. The average advertised total book savings is $17,000. If you redeem 25% there would be an annual savings of $4250. Even a mere10% redemption is a savings of $1700 per year to put toward student loan debt

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Get Ready for the Student Loan Bubble to Rock Obama's Fragile Economy - Student loan debt is nothing more than slavery. The promise of a good education and easy money has many students going tens of thousands of dollars in debt without ever having a significant income all thanks to the federal government's program to make education obtainable to all. The only thing that is truly obtainable in programs like these is trouble down the road of many who buy into the promises of this government program.

This year, student loan debt may mean more trouble for the troubled US economy.

Fair Issac reports:

Research by FICO Labs into the growing student lending crisis in the U.S. has found that, as a group, individuals taking out student loans today pose a significantly greater risk of default than those who took out student loans just a few years ago. The situation is compounded by significant growth in the amount of debt that new graduates are carrying.

The delinquency rate today on student loans that were originated from 2005-2007 is 12.4 percent. The comparable figure for student loans that were originated from 2010-2012 is 15.1 percent, representing an increase in the delinquency rate by nearly 22 percent

See the crisis brewing as another easy money lending plan delivered to you by the federal government in the name of fairness threatens the entire economy just like the housing bubble eight years ago.

You know who owns all the student loan debt now, so it will be the American tax payer, many who don't have a dime of student loan debt, who will be left to bail out these bad loans.

It was just a year or so ago that American students, graduates, and college drop outs hit a significant milestone. There is now over $1 trillion in unpaid student loan debt enslaving people from around the United States. If we are nearing a 20% delinquency rate in student loan repayment, that means we are rising above $200 billion in bad student loans which taxpayers will soon be asked to pay back in the forms of more bank bailouts just like the housing bailouts.

America's borrowing culture is kicking America from every angle.

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Is Student Loan Consolidation The Right Option? - As we know that educations is never decreased instead it's increasing from time to time, therefore the students force to deal with debt. Thus, applying for a student loan consolidation become an imperative to manage the debts.

If you are a new student, surely you are enjoying an independence and study, however things are often not as good as you expected, responsibilities attached to this condition. You worry about the things that you should think about before, such as payments. There are still other payments such as peripheral to think about like room, books and supplies, transportation, food, and tuition fees.


It will not be surprising if students encounter difficulties, particularly in the financial sector. As most of the time and effort students mostly centers on their studies, not to mention the fact of limited revenue streams, bills will be more difficult to pay. What can a student do when this unavoidable fact finds them and will be around for an indefinite period?

Student loan has become a popular option today. Apart from conventional loans, there are also direct loans from the government.

These direct loans works like the 'study now, pay later "program that will allow the student to borrow a certain amount it does not have to pay until graduation and getting a good job . They are called as such because they do not require a monetary deposit or guarantee.

Now, if it already has a lot of outstanding loans? That would really put a lot of difficulties in the future.

Imagine the interest in summarizing the unmanageable proportions! This is a good thing, a student could consolidate all his loans in existence to one single payment each month to a single lender.

There are many benefits associated with the consolidation loan student. Not only did he get a warrant more lenient to pay his debts, but it may pay an amount much less than what he originally bargained for.

Because it also has a grace period of six months before you actually start to repay its loans, the loan appears too possible for the student. With a smaller monthly payment, it can also manage other costs that will be taking care of the future, such as food, utensils, car expenses, mortgages, and education related fees for their children among other things.

Potentially, interest rates could be minimized, as there would be a pillar that would be used to determine the applicable interest and above.

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How To Consolidate Cheap Student Loans? - Today, the cost of higher education is becoming increasingly expensive. Some families may not be able to afford to send their son or daughter for further education. Therefore get a student loan help. There are two main types of student loans available. Government student loans and private student loans. Student loans or federal government funded and administered by the U.S. Department of Education. It is classified under the student aid federal loans. They have very few requirements other than you are a student in an American college or university. International students may also apply if the approval is on a case by case basis.


Each year, the program through student loans pay nearly $ 60 billion making it a good choice for a government student loan. Thus, interest rates are very low. Private student loans are funded and administered by banks and other financial institutions. These lenders offer student loans at an interest rate higher compared to federal student loans. Some common student loans available are from Citibank and Sallie Mae

You are allowed to ask for private student loans and federal education needs your although I would not recommend it. For some students who have a few student loans to repay at the same time, it can be a financial burden on their family finances. This is where student loan consolidation comes in.

Student Loan Consolidation essentially consolidates all your student loans into one loan so that it is easier to manage and make payments. When you find a student loan consolidation whether from the government or the private market, your existing student loans are paid for and cleared by the lender to consolidate student loans. Balances are transferred to the new student loan consolidation. So you start a new loan and only needs to make a single payment each month.

There are several advantages to using student loan consolidation. Interest rates will be lower because it takes the average interest rates of your previous student loans. Thus, due to government legislation, the maximum interest rate can not exceed 8.25 percent.

It becomes much easier to manage a single student loan and payment are easier. Repayment options are quite flexible. To consolidate federal student loans, you can opt to start repaying after you have graduated from school. There are also several other options.

Another beneficial side-effect of student loan consolidation is that it can also improve your credit score. Since you are effectively clearing all your old student loans and taking a new one, your credit score will increase and it is important if plan to take other types of loans in the future ....

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Consolidation student loans is a program that allows students to consolidate loans outstanding education in a new single loan. This is not limited to a single lender. Even if lenders hold these loans, you can always opt for the consolidated loan. Consolidating student loans is beneficial because it will reduce your monthly payments since the payment will be extended.

Consolidating student loans is convenient for students and parents because it simplifies the loan. The monthly amortization will also be lower due to the repayment can be spread over a longer period. The interest rate will also be reduced since the borrower will have many options benefit plan. The best time to consolidate loans is right after graduation before the grace period ends. This will allow the borrower to secure the lowest possible rates on the loans.


Government consolidation loans have lower monthly payments and have flexible terms and conditions of repayment. Rates may be as low as 3.5% and are calculated at a fixed rate. This will also benefit you if you want to get rid of the release of many controls. With student loans, the government consolidated, you will get a refund and unique easy since you only have to sign one check each month. Students over $ 10,000 in outstanding student loans are eligible for this program.

The borrower must also not be in school half-time or more. There are many types of loans that can be consolidated with this program. They are Stafford loans, Federal Consolidation Loans, Perkins Loans, Parent Loans Plus, HEAL / HPSL Student Loans, Federal Direct Consolidation Loans and many more.

Private student loans can also be consolidated. However, you should not consolidate federal and private student loans. This is because you are not able to defer payments on the loan consolidation private, but you can with the consolidation of federal loans if you want to return to school.

With the consolidation of private loans, you can not stop payment if you have economic difficulties. Private loans are not eligible to claim tax deductions. In addition, if the borrower has died, federal loans are forgiven as private loans, loans have gone to the nearest relative.

It is important to consolidate student loans from the federal government because it reduces the number of credit loans that you may have. This will also create a good credit score will allow you to better conditions for the consolidation of private loans.

Credit check is not required also the consolidation of government student loans from the government of the United States guarantees federal student loans. Application consolidation of student loans is very easy. Advisors ready on your school will be able to advise you on the procedures. You may apply online, by mail or by phone. It will only take 1-3 months to build.

If, however, you will not be eligible, you may consider refinancing your home or investment property to repay your loans. You may also consider a personal line of credit from the bank or consider consolidating private loans. Reimbursement has different terms.

For borrowers with loan balances of $ 10,000 to 19,999 dollars, have a repayment period of 15 years. Twenty years is allocated for those with loan balances $ 20,000 to $ 39,999. There is 24 repayment for one year for those loan balances $ 40,000 to $ 59,999. If your loan balance is $ 60,000 or more, the 30-year program will cover.

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Every mother or father understands of the fact that they have to invest lot cash for their child's schooling. Many anticipate these expenses and try to invest less towards college tuition and higher knowledge fees. Not all the mother and father are able to preserve enough cash. It becomes difficult for them to strategy on pension benefits. As a result they send their children to an average or a average higher knowledge, that too after spending lots of money. But there are some brilliant mother and father who gather all the necessary details and invest less accordingly and invest get make their children be a part of in their desire higher knowledge. If you are the mother or father of a college-bound student, you may be thinking and concerned how you could afford for your child's knowledge. To get the children be a part of their desire higher knowledge may impacts the pension plans of some mother and father. In such a situation, grants and sports grants performs vital role in every past or present student's life.

There are ways to cut price on schooling and invest less towards the pension strategy. There are several economical helps available for almost all the mother and father. It is noticeable that many middle and upper-class family members were able to reduce the price of their child's knowledge by planning in enhance. Thus they don't choose any other means for their child's knowledge.

Many mother and father thoughtlessly believe that they will get a solution for economical aid from their child's assistance advisor or from the economical aid night. Unfortunately those mother and father end up in paying large amount than needed. It is said that secondary university assistance therapists are not trained to advice mother and father on economical helps. They are just intended to assist in submitting the types. It is same in the case of economical aid night time. In most cases these ability may not be conscious of the techniques and describing those to aid the mother and father.

One of the significant things to keep in mind before applying is to check whether those educational institutions have the ability to prize grants to their learners, because, most of the educational institutions have very little to provide away. Choosing the right educational institutions in enhance which can provide its best economical aid to the learners can reduce your visit to the university thereby saving your cash.

According to the report from the Division of Education, 90% of the economical aid types are posted with any errors. Every simple and reckless error can end up in rejecting the types. To reprocess your form, it will take another 4 to 6 weeks. As many economical helps are granted on first-come, first-served basis, and publish the types promptly, such errors are likely to happen. Due attention and care while posting such types can help you to helps you to save lots of money. You can even get tax benefits when discussed with a good advisor who understands of techniques and techniques.

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Rep. Bill Cassidy of Louisiana calls for repeal of health-care law

NEW YORK (MarketWatch) — President Barack Obama is urging Congress to reach agreement on a bill to fund transportation projects and move to stop student-loan rates from doubling.

“We are seven days away from thousands of American workers having to walk off the job because Congress hasn’t passed a transportation bill. We are eight days away from nearly seven and a half million students seeing their loan rates double because Congress hasn’t acted to stop it,” Obama said in his weekly radio and internet address. See full video and/or transcript.

“Let’s make it easier for students to stay in college. Let’s keep construction workers rebuilding our roads and bridges,” Obama said.

Democratic and Republican lawmakers are still at odds over how to pay for a $6 billion plan that would keep student loans from spiking from the current 3.4% rate on subsidized loans on July 1.

Senate aides from both sides on Friday said congressional negotiators appeared to be near a compromise that would extend the 3.4% rate for another year, the Associated Press reported.

The Federal Reserve Bank of New York in May said student loan debt increased this year to $904 billion, even as other types of consumer debt declined. See Fed release on quarterly report showing student-debt growth.

In the Republican reply to Obama’s weekly address, Louisiana Rep. Bill Cassidy said if the U.S. Supreme Court does not repeal the whole health-care law, then Congress should.

“Unless the court throws out the entire law, we should repeal what is left and implement common-sense, step-by-step reforms,” Cassidy said. Read transcript/watch video on this site.

The high court is expected to rule on the law, the Affordable Health Care Act, by the end of the month, which would mean to the week ahead.

The court’s options include upholding it or repealing all or portions of the legislation, including its mandate that most individuals carry health insurance.

Most of the estimated 50 million currently without insurance would be able to get it through taxpayer-subsidized coverage. Some people, such as illegal immigrants, would be exempt from the mandate.

Source : dumboanddonkey.blogspot.com/2012/06/obama-urges-congress-to-act-on-student

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Student loan consolidation combines all of your student loan debts into one, lower-interest loan. When you consolidate student loans, you can lock in low, fixed interest rates, reduce monthly payments, and/or lengthen the amount of time you have to repay the loan. You can consolidate student loans using federal or private consolidation loans. You can apply for both right here on our site.

The benefits of consolidating your student loans are substantial. Almost anyone with student loans can benefit from a consolidation loan. With most student loans, your interest rates can rise considerably unless you lock in a fixed rate with a consolidation loan. Here are some of the reasons you might want to consolidate student loans:

* No credit check required for federal consolidation
* Apply online
* Combine all student loans into one easy monthly payment
* Lower your monthly payments by up to 50%
* Get up to 20 years more to repay your student loans
* Get a low, fixed interest rate that lasts for the life of the loan
* No cosigner necessary for federal consolidation
* No origination or application fees
* No prepayment penalty

Interest rates and payments

Consolidation loans have longer terms than other loans. Debtors can choose terms of 10–30 years. Although the monthly repayments are lower, the total amount paid over the term of the loan is higher than would be paid with other loans. The fixed interest rate is calculated as the weighted average of the interest rates of the loans being consolidated, assigning relative weights according to the amounts borrowed, rounded up to the nearest 0.125%, and capped at 8.25%. Some features of the original consolidated loans, such as postgraduation grace periods and special forgiveness circumstances, are not carried over into the consolidation loan, and consolidation loans are not universally suitable for all debtors.

Top consolidation lenders ranked by total FY 2006 consolidation loan originations

Lender name	# of loans	Amt of loans ($)
Federal Direct Student Loan Program	1,169,110	$19,197,268,873
Sallie Mae	866,295	$19,841,423,841
Citibank	232,126	$4,843,119,089
Nelnet	198,624	$4,796,065,812
NextStudent	89,284	$3,320,024,025
JP Morgan Chase	115,777	$2,668,451,098
Goal Financial, LLC	111,426	$2,494,856,673
College Loan Corporation	75,360	$2,245,128,826
AES/PHEAA	166,730	$2,037,618,548
Student Loan Xpress	114,790	$1,880,997,383
Wachovia Education Finance	80,174	$1,674,979,763

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