Citizens Bank Student Loans Consolidation

Consolidate your student loans using Citizens Bank’s online loan consolidation calculator. See how much money you could save by consolidating your federal student loans and private student loans including Perkins Loans, PLUS Loan, Sallie Mae loans, Health Education Assistance Loans (HEAL), and National Direct Student Loans (NDSL). Just enter a few details about yourself and our free interest rate calculator will do the rest! You’ll find out if student loan consolidation makes financial sense for you.

Citizens Bank Student Loans Consolidation

What is consolidation?

It’s the process of combining two different loans into a single loan with a lower monthly payment. 2. How does it work?

Consolidating student loans means getting rid of unneeded debt, making payments less frequent and lowering interest rates. When you consolidate student loans, you’ll get a fresh start in paying down your debt. In addition to paying off lower principal, you may pay less interest over time. If you’ve already consolidated student loans, you should know that Citizens Bank makes student loan consolidation easier than ever. We offer flexible repayment plans, including graduated repayment plans, based on your current financial situation, to help you complete your consolidation successfully.

Who qualifies?

You probably think of yourself as pretty smart, but did you realize you qualify for student loan consolidation if you’re a graduate or have attended school at least half-time for 1 year (or longer) and you have an outstanding balance between $0-$10,000? Remember, no matter how small the amount of your remaining balance, we’ll still consider you eligible for student loan consolidation. You just need to meet some basic requirements.

Is it safe?

Yes! There’s no risk involved in consolidating your student loans. Your credit history won’t be affected and you don’t need to worry about having any negative marks on your record. Even if you haven’t yet paid back your education loan, you could apply for a standard personal line of credit without putting your credit score at risk.

Should I do it now?

If you decide to choose a graduated repayment plan, you’ll want to take advantage of the 0% introductory APR promotion until Feb. 15, 2012. After that date, the rate will increase to 15%.

Who else offers student loan consolidation?

Well-known banks like Chase, Bank of America, Citibank and Wells Fargo all offer student loan consolidation programs. But if you’d prefer to deal directly with the lender who issued your student loans, you may find that Citizens Bank has special deals to fit your particular circumstances. Check out our website at http//www.citizensbankloan.com/ to learn more about these programs.

Will consolidation affect my income security?

No, not really. You may actually end up saving on taxes because you’ll be able to deduct the interest you pay on your consolidated loans. However, keep in mind that while your total interest cost will go down, your individual payments will remain unchanged. That means each month you’ll still need to fork over a set amount of money toward your debt. So, it’s important to weigh out what’s best for you financially.

Citizens Bank Student Loans Consolidation

Consolidate student loans can help reduce interest rates while saving money. Citizens Bank’s consolidation program lets qualified customers take out a single loan and have their debt paid off over time at a lower rate than they would pay if they took individual loans. In addition, some states offer additional incentives for consolidating student loans. See if you’re eligible, then apply today!

Citizens Bank Student Loans Consolidation

This video was created about how I am paying off $30,000 of debt in 18 months after obtaining two Citizen’s Bank student loans. In addition, my interest rate dropped from 10% to 4.5%. Not only did CB give me a loan consolidation, they gave me a much lower APR than any competitor!

I have several people ask me about Citizens Bank Student Loans before. Have questions? Before trying to apply for a student loan online you should know these answers.

The company is called Citizens BankStudentLoans for good reasons. You may want to contact them if you are interested in obtaining this loan.

You need to shop around now – there are places that want your business (high pressure sales tactics)!

Can you really walk away from $20k federal loan money? Yes, of course you can! Here are some options though… there will be many others that differ per state.

Determining what state(s) you live in can determine which type of Citizens Bank Loan Plan would work best for your situation either HOPE or PAYE/SURE.

To qualify, students must demonstrate income potential, the ability to afford payments once enrolled in school and commitment to making their student loan debt manageable, according to the website.

If you sign up for HOPE right out of college, monthly installments of those loans cannot exceed 12 percent of your discretionary income. Discretionary income includes everything earned outside of your salary or wages. So if you’re planning to go to grad school and plan on earning $50,000, any loan taken out along side of that degree program could not cost more than $1,500 PER MONTH.

Students who graduate and take out private student loans incur un-mercifully high rates of interest, sometimes over 600%.

If you decide to refinance your student loans into an Income Based Repayment or Revised Pay As You Earn plan, then it is possible to pay back higher amounts, but you make larger monthly payments, as well as a ‘balloon payment’ upon graduation.

Income based repayment plans require minimum monthly payments under 5% of your discretionary income. These types of loans are great because they provide the opportunity to repay your loan without accumulating additional debt in the future. However, minimum payments are determined by your income and payments vary depending on your income.

It provides you with guidance on managing your student loans and determining whether you might qualify for consolidated loan forgiveness.

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Citizens Bank Student Loans Consolidation

Description: Citizens BankStudentLoansConsolidation is a debt reduction strategy provided by Citizens Bank in partnership with Bancorp Financial Inc. If you have student loans, you need to know about Citizens Bank Student Loan Consolidation! I highly recommend checking out their website if you want to learn more about their products and services.

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