Fin. Aid Loans Student Loan Consolidation. Consolidation Loans combine several student or parent loans into one bigger loan from a single lender, which is then used to pay off the balances on the other loans. They also provide an opportunity for alternative repayment plans, making monthly payments more manageable. Consolidation loans are available for most federal loans, including Stafford, PLUS and SLS, FISL, Perkins, Health Professional Student Loans, NSL, HEAL, Guaranteed Student Loans and Direct loans. Some lenders offer private consolidation loans for private education loans as well. The interest rate on a consolidation loan is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest 18 of a percent. That interest rate is fixed for life. For example, suppose a student has just unsubsidized Stafford Loans originated. July 1, 2. 00. 6. These loans have a fixed interest rate of. When they are consolidated by themselves, the consolidation loan. So. the interest rate increases only slightly. Sound Equalizer For Windows Xp there. If the borrower has a mix of loans with different interest rates, the weighted average will be somewhere in between. For example, if the borrower has 5,0. Perkins Loans at 5. Disadvantages Program Direct' title='Disadvantages Program Direct' />Stafford Loans at 3. This weighted average, 4. If you are consolidating loans with different interest rates, the weighted average interest rate will always be in between. Dont be fooled if someone tries to suggest that this will save you money by getting you a lower interest rate. The interest rate may be lower than the highest of your interest rates, but it is also higher than the lowest of your interest rates. More importantly, the amount of interest you pay over the lifetime of the loan will be about the same. No Cost to Consolidate. Aside from a slight increase in the interest rate on the consolidation loan, there is no cost to consolidate your loans. There are no fees to consolidate. Under no circumstances pay a fee in advance to get a federal education loan or consolidate your federal education loans. There are no fees to consolidate your loans. Disadvantages Program Direct' title='Disadvantages Program Direct' />Incorporation, incorporate your business, texas incorporation, california incorporation, florida incorporation, incorporation new york, incorporate in florida. Image Source Disadvantages of Consuming Maida Flour. High intake of maida product will also add on to your body weight and you will soon progress toward obesity. Get answers to frequent questions about flex fuel cars, how a flex fuel engine works, and the pros and cons of flex fuel vehicles. While other federal education loans, such as the Stafford and PLUS loans, may charge some fees, the fees are always deducted from the disbursement check. There is never an upfront fee. If someone wants you to pay an upfront fee, chances are that it is an example of an advance fee loan. Who Can Consolidate. Both student and parent borrowers can consolidate their education loans. Students and parents cannot combine their loans through consolidation, since only loans from the same borrower can be consolidated. But they can consolidate their loans separately. Disadvantages Program Direct' title='Disadvantages Program Direct' />We, at Engineered Diesel, created this video to help our customers have a better understanding of how a common rail diesel injector works, which makes it. Students can consolidate their education loans only during the grace period or after the loans enter repayment. Loans that are in default but with satisfactory repayment arrangements may also be consolidated. Students can no longer consolidate while they are still in school. Parents, however, can consolidate PLUS loans at any time. Which Loans Can be Consolidated Any federal education loan can be consolidated. You can even consolidate a single loan. There are, however, a few restrictions on consolidating a consolidation loan. You can consolidate a consolidation loan only once. Disadvantages Program Direct' title='Disadvantages Program Direct' />In order to reconsolidate an existing consolidation loan, you must add loans that were not previously consolidated to the consolidation loan. You can also consolidate two consolidation loans together. But you cannot consolidate a single consolidation loan by itself. Note that when you reconsolidate a consolidation loan, it does not relock the rates on the consolidation loan. The consolidation loan is treated as a fixed rate loan within the weighted average interest rate formula used to calculate the interest rate on the new consolidation loan. Repayment Plans. Consolidation loans provide access to several alternate repayment plans besides standard ten year repayment. These include extended repayment, graduated repayment, income contingent repayment Direct Loans only and income sensitive repayment FFEL only. If you do not specify the repayment terms, you will receive standard ten year repayment. Consolidation loans often reduce the size of the monthly payment by extending the term of the loan beyond the 1. Depending on the loan amount, the term of the loan can be extended from 1. The reduced monthly payment may make the loan easier to repay for some borrowers. However, by extending the term of a loan the total amount of interest paid over the lifetime of the loan is increased. You do not need to pick an alternate repayment plan. We recommend sticking with standard ten year repayment, because it will save you money. The alternate repayment plans may have lower monthly payments, but this increases the term of the loan and the total interest paid over the lifetime of the loan. Repayment on a consolidation loan will begin within 6. Home Health Care Advantages Disadvantages. Facts compiled by the National Association for Home Care Hospice show that 7. United States receive home care services. Although the majority of home care recipients are over the age of 6. Yet despite a number of apparent advantages, home care offers some disadvantages as well. One of the major advantages of home health care is that it costs less than keeping a patient in the hospital. Home health care professionals provide a full range of services for people who are discharged from the hospital but who still need certain medical services throughout the length of their recovery. However, its important to keep in mind that although placing a loved one in a residential care facility can be expensive, the cost of home care can add up over time. Statistics gathered from a 2. National Private Duty Association show that home health services cost 2. What may seem like the least costly alternative at first can quickly add up when you calculate the expenses of continuing to maintain a home, family members missing work to help out, and the cost of more services and care as needed. Often a persons physical needs change or increase over time, eventually making home care impractical. What many people like about home care is that it allows a patient to recover in the comfort and security of her own home. Patients receive individualized care designed to meet their specific needs. In many cases, home care delays the need for families to place an elderly loved one in a nursing care facility. Maintaining independence is another primary advantage that home health services offer. Although this alternative gives an individual and his family more control over the type of care received, for a home care program to work successfully, someone must be responsible for finding and coordinating the needed services, along with figuring the costs. On the opposite side of the argument, although some people do better in familiar surroundings, other individuals may end up being isolated and spend most of their time sleeping in bed. In these cases, a senior community setting such as an assisted living facility or nursing home might actually be a better option. Another primary advantage of home care is that a person gets one on one attention, something she would not receive as a resident in a hospital or nursing facility. In a nursing facility, a single staff person is often responsible for caring for 1. On the other hand, unlike licensed nursing facilities, which are regulated by state and federal law, home care is basically an unregulated industry. If no family members are near to monitor an agencys staff, individuals who live alone are more vulnerable to potential abuse and neglect by caregivers. Help from friends and family is another reason why some people choose home care. Family members can be actively involved in a loved ones care, and caring for the person in his own home environment allows for more flexibility. This may make it easier to develop a daily routine that works for everyone. Then again, family caregivers who do not get enough support and respite from others can burn out quickly. It can also be difficult to handle medical emergencies at home. Even if your doctor indicates that you or a loved one needs home health care, your choices in which agency to use may be limited by the availability of caregivers employed by the agency or by the type of your health insurance coverage. For instance, most managed care plans require that you receive home health care services from an agency with which they have a contract. According to the U. S. Department of Health and Human Services, if you select a Medicare approved home health agency to provide home health care services, you are entitled to certain rights. A major advantage is that the health care agency must give you a copy of your care plan, outlining the types of services to be delivered, as well as how often you can expect to receive those services. In addition, home health agency staff must treat your personal property with respect. If not, you have the right to complain to the agency or a State Survey Agency. This is also the procedure if you do not receive treatment according to your care plan or if an agency staff member acts disrespectful toward you. Finally, you have the right to have a family member or other guardian act on your behalf if you are unable to do so.