Credit Card Debt Consolidation services can make it happen, and there's no doubt about it. There's no reason to delay and nothing to lose. Credit card debt consolidation can also help you avoid creditor harassment , one of the main elements that trigger stress induced health problems. Credit card debt consolidation usually makes the combined balance more manageable especially if a lower interest rate is provided. But, if there are multiple other accounts involved that were not part of the consolidating effort, it may take some time to get them all reduced to a manageable level.
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Monday, September 28, 2009
Tuesday, September 15, 2009
New Rules For Ditching Student Loans
Hoping some of your student loan debt will be wiped away because you've chosen a selfless career? That may depend on what state you're from, what type of loan you have, and, of course, what profession you're in.
Most states have quasi-governmental agencies that monitor the status of federally subsidized student loans and administer loan forgiveness programs for those who follow certain career paths. Many of these agencies temporarily foot the bill for loan forgiveness before being reimbursed by the federal government. But some have been using excess revenues and state government funds to create their own loan forgiveness benefits.
Now, with loan markets in turmoil and states facing record deficits, some state loan forgiveness initiatives are on shaky ground or have been cast aside altogether.
The Pennsylvania Higher Education Assistance Agency, for example, recently cut its forgiveness programs for nurses and members of the military. PHEAA had been using money it made from activities like buying and selling student loans on the secondary market to help students wipe away loan debt. With that line of business (among others) no longer profitable, something had to give. "We've had to modify the programs we offer simply because we don't have the funds coming in that we did in the past," says Keith New, the agency's spokesman.
Others states that have cut loan forgiveness programs include Kentucky and New Hampshire.
Source
Most states have quasi-governmental agencies that monitor the status of federally subsidized student loans and administer loan forgiveness programs for those who follow certain career paths. Many of these agencies temporarily foot the bill for loan forgiveness before being reimbursed by the federal government. But some have been using excess revenues and state government funds to create their own loan forgiveness benefits.
Now, with loan markets in turmoil and states facing record deficits, some state loan forgiveness initiatives are on shaky ground or have been cast aside altogether.
The Pennsylvania Higher Education Assistance Agency, for example, recently cut its forgiveness programs for nurses and members of the military. PHEAA had been using money it made from activities like buying and selling student loans on the secondary market to help students wipe away loan debt. With that line of business (among others) no longer profitable, something had to give. "We've had to modify the programs we offer simply because we don't have the funds coming in that we did in the past," says Keith New, the agency's spokesman.
Others states that have cut loan forgiveness programs include Kentucky and New Hampshire.
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