Tag Archives: consolidation
ACS Student Loans
An ACS student loan is a loan that is serviced by the Affiliated Computer Services, Inc. It is a company known for outsourcing technology and business solutions. Universities across the country use the ACS student loan services because of the company’s reputation for using technology to effectively handle some of the more difficult aspects of loan services.
ACS student loans allow students to make payments online, instantly be able to see the status of an account, make changes to personal details such as name and address, and also to be able to receive email notifications when a payment has been processed.
Many different programs for financial aid fall under the heading of an ACS student loan. One of the major ACS student loan groups is the Campus Based Student Loan Program (CBSL), which includes Federal Perkins Loans, Nursing Student Loans (NSL), and Institutional Loan Programs, among others. Another major group of educational loans handled by ACS is the Federal Family Education Loan Program (FFEL), which includes the Stafford (GSL) Loans, PLUS loans to parents of students, and loan consolidation services. ACS also has the ability to handle many other groups of educational loans donated by a variety of private companies.
For those who do not already have an ACS student loan, applications and guidelines for different financial aid options are available online. The ACS website gives a clear example of how to fill out a Free Application for Federal Student Aid (FAFSA) form, and demonstrates what the results mean in terms of your eligibility for financial aid. Furthermore, applications for both Stafford and PLUS loans for parents can be found on the ACS website, and can be completed and sent in online.
If you are the holder of an ACS student loan already, you may be interested in knowing about the benefits of student loan consolidation. The ACS website provides information and application forms that could help you lock in a lower rate and reduce your monthly payment amount.
Some other tools that can help you with your ACS student loan are a repayment calculator, guidelines from the IRS about how to use your student loans for tax relief, and a glossary of important student loan-related terms.
All in all, an ACS student loan is one that will give the borrower plenty of ease and flexibility when it comes to loan servicing from application to repayment and consolidation. ACS works with a number of universities across the United States, including the University of Pittsburgh and the University of Vermont. Even if your specific university does not offer student loans handled by ACS, their website is a treasure trove of helpful tools and information, and well worth a look.
How to do Debt Consolidation
Doing a business? And you have taken a lot of loans on your part in different times? Now confused about how to pay back all these debts? If these all your problems and you are in search of a simple answer rather solution to these; here it is. In these situations you have to go for a debt consolidation. But wait what it is and what is its precise procedure with different options are given you here. Ponder upon these and then plan a stepwise mechanism to undergo this whole process.
The stepwise procedure is as follows
1. Add up all the debt amounts on you including the interests on you. Also include those small amounts that you have forgotten or are less in amount.
2. Now decided that you want to go for a secure or unsecured larger debt. Considering the advantages and disadvantages, a secured debt is far better because of a lesser and fixed payment interest. If you have a bad credit score and going towards the bankruptcy, it& 8217;ll be difficult to have an unsecured loan because of decrease in credibility and a bad credit report.
3. Think about all the available options that can be applied as a parallel option for receiving of loan. Like, you can take a loan in equity to your house. This resembles selling of a house on its price but with a promise that you& 8217;ll pay back the price soon to have your own property. This gives you the best results with the minimum possible interest.
4. Another option is cash-out refinancing. That means you sell your house for money more than you owe, use that money in paying your loans. And the extra amount of payment is a debt on you with a least amount of interest.
5. You can also refinance your car and then have a loan on its equity so as to pay back all of the smaller loans. This also offers a small amount of interest.
6. Along with these you can apply anytime for a personal bigger loan. This is the unsecured type of loan with least advantages as due to a bad credit report they will ask for a huge amount in the name of interest. This is an open big debt with many side effects.
7. As you are in a danger situation so leave no stone unturned to negotiate and convince the creditor on your terms. He may consider your credit score and threat to be bankrupted as a request and lessen your interest rate and payment amounts.
8. If you still find this process complicated one, many credit consolidation companies are working in the market. You can hire their services for a reasonable cost to provide you with the debt consolidation. They will work in a more professional way and have a feasible and trust worthy co-operation to work with.