We've all gotten those calls from telemarketers. Yes, those pesky people who famously call during the wee minutes of our scrumptious dinner to try and sell everything but the kitchen sink. Futilely, I may add, since the only thing most of them draw from us is an expletive and maybe a "not interested" followed by a dramatic hang-up.
Slick-monotone-hard-to-understand-robot: This is picture that is commonly painted of our rarely American telemarketer friend. Not surprisingly, the once tolerate job of a telephone sales representative has almost become a stigma in American culture.
Telemarketers love student loan consolidation and for good reason.
True, Telemarketers can call at the absolute worst times selling anything from credit cards, to vacation plans and time shares. Now, if you are one of those lucky ducks with student loans, then you probably have had your fair share of calls about consolidating your loans, as well. But, let me say, don't let the thought of telemarketer on the phone leave a bad taste in your mouth about consolidation. Consolidating your student loans is thought by many to be one of the best ways to manage your student loans after college.
In fact, consolidating your loans can give you many money-saving benefits including a lower interest rate, lower monthly payments, and borrower incentives. So speaking to the right person on the phone can really be worth the time. And what I mean by right person is speak with a Student Loan Consultant, someone who is specifically trained to be an expert on the subject of student loans and whose sole purpose is to help student loan borrowers in need of better loan management.
A Student Loan Telemarketer is not the same as a Student Loan Consultant
Though both may call you, it's important to know the difference between a telemarketer and a student loan consultant. A telemarketer says and does what they're told to, while a student loan consultant's main role is customer service and satisfaction. Many times, if you get a great student loan consultant on the phone, they'll be happy to inform you of everything you ever wanted to know about student loan consolidation and the options available to manage your loans after college better. A good student loan consultant is happy to answer your questions because they genuinely want to help.
So choosing to consolidate your loans should not be the biggest issue, it's with WHOM you should consolidate that should be your concern. After all, consolidation puts you into a relationship with your lender for years to come and the student loan consultant you speak to can be a good indicator of the type of company they represent, and who you will be dealing with.
As mentioned, student loan consolidation is a great financial tool, but pay close attention to these tell-tale signs to make sure the person you're speaking to is not more interested in filling their own pockets then filling yours.
Tips on How to Handle Consolidation Calls
1) Don't be bullied or rushed into making a decision. It's important to feel comfortable and not rushed by the person you're speaking with.
Make sure you're treated with respect: Work with a company who makes it a point to listen to their clients needs. Find a company that doesn't take one single call they make or receive for granted. Real customer service oriented Student Loan companies want to know that each of their borrowers is happy with their consolidation solution. This is why companies like OneSimpleLoan thrive on testimonials from their customers, daily. Check out [http://www.onesimpleloan.com/testimonials.asp] for real testimonials from OneSimpleLoan's happy customers to see exactly what I'm talking about.
2) Make sure you're talking with a student loan professional and not a telemarketer (some people are trained to make calls, not to help you consolidate your student loans properly and efficiently). You can tell right away if someone is reading from a script or going through the motions. Consolidation involves your personal finances and it's nothing for someone to play around with.
Work with a company who has an excellent Training program: Few student loan companies invest enough into the training of their student loan consultants. It's important to work with a company that does. OneSimpleLoan for example puts their Student Loan Consultants through a tiered training program, which each include an entire week of in-house training letting them excel into three levels of service.
3) Do some research on the company you're speaking with before you decide to consolidate your loans. Visit their website, check out to see if they've had any Better Business Bureau complaints issued against them. Ask questions...if the answers don't sound right, hang up!
Make sure the company is credible: Find out what kind of credentials the company you're speaking with has, such as membership in their local or state chamber of commerce and Better Business Bureau. Companies, like OneSimpleLoan, pride themselves because of these prestigious memberships and for having superb understanding and implementation of student loan laws and regulations.
Look for Consistency and valuable resources: The worst thing is having to go through a detailed process with one person and then having to explain it to someone else. Is the consultant willing to give you their full name? Can you call them back with questions? Borrowers who consolidate with OneSimpleLoan appreciate the fact that they are assigned to one consultant to help them through the entire consolidation process.
4) Listen to the person on the phone. Do they mention grace rates, borrower benefits, deferment, or forbearance? If no, they may be holding back on giving you a full range of options to help you manage your student loan debt.
Make sure they're easy to understand: Sure, the person on the phone may sound like they know what they're talking about, but do you? It's important that the Student Loan Consultant tries to make the process of consolidation as easy to understand as possible by using simple to understand terms and treating each borrower like a personal friend whom they're helping.
5) Make sure you're speaking with someone with expertise on the subject. Get the phone number and name and even the lender ID code, if available, of the company that's calling you or that the person represents.
Work with a company that experiences successful growth: They may be few, but there are student loan companies that do hire and train professional staff, have a resourceful website and a dynamic stature that make them successful members within the student loan industry.
Find out how simple and quick the process is: Before you start the consolidation process, ask the company you're on the phone with how long their consolidation process will take. It's better to know and prepare yourself from the beginning than grow impatient later.
It's important to work with a company who's process is hassle-free. A good student loan company can help you complete your consolidation paperwork in less than an hour - some even do most of the written work for you! In fact, many borrowers who have consolidated their loans with OneSimpleLoan comment on how easy and quick the consolidation process is because of the quality of attention and service they received from the Student Loan Consultant who helped them.
Most of all, work with someone who you can tell enjoys their job of helping you.
In addition to their employees, many student loan companies do have your best interests at heart - after all, a job is a choice and many who love customer service choose to help student loan borrowers make the best choices about their loans. In fact, customer service is at the heart of many of the most successful student loan companies, of which OneSimpleLoan is no exception.
source:http://ezinearticles.com/?id=678368&What-To-Do-When-A-Student-Loan-Telemarketer-Calls=
Showing posts with label Student. Show all posts
Showing posts with label Student. Show all posts
Thursday, September 6, 2012
Wednesday, September 5, 2012
Useful Tips About a Student Loan Application
Since there are not many people who can finance a college education without some sort of financial assistance, at some point most students will have to fill out at least one student loan application. This process can be daunting, but fear of completing a student loan application is no reason to give up on higher education. Unfortunately, sometimes the easiest student loans to apply for are those with the most unfavorable terms.
For this reason, any student who is attempting to procure financial aid should become familiar with the types of loans available and the student loan application procedures that need to be followed in order to qualify for these loans.
FAFSA: The First Step in Financing an Education
The Free Application for Federal Student Aid or FAFSA is the most important scholarship and student loan application that any student must complete. It is also frequently the most complex and tedious application for students and their parents. This is because the FAFSA requires a lot of detailed financial information, including tax returns, from both students and parents. While the application requires time, this form is essential for all students. Filing a FAFSA is not only the sole method of obtaining federal funding for education including Stafford Loans, but this exhaustive form is also a prerequisite for most state and institution based loan programs. Since these types of loan programs tend to offer the most favorable terms for students, filing a FAFSA should be every student's first step in the financial aid process.
Applying for Federal Aid
Even though the FAFSA is free and can be completed online, its exhaustive nature causes too many students to give up and accept private loans with high interest rates and unfavorable repayment terms. A little preparation can help families avoid this undesirable situation, however. Anyone seeking financial aid should be sure to file a tax return as early as possible. As soon as the tax return is done, families should gather the completed return, bank statements and financial paperwork and fill out the FAFSA. Having paperwork on hand will make the process go more quickly, and early filing is crucial in ensuring eligibility for the maximum amount of aid available. It is imperative that families not only file the form before the FAFSA deadline but before the deadlines for individual school and private loan programs. A completed FAFSA is frequently required before students can even submit any other student loan application, and often these deadlines are earlier than the federal deadline.
School Based Financial Aid
Most higher education institutions have financial offices and offer many forms of financial aid and counseling to their students. While a FAFSA is usually required to qualify for school based programs, there are also additional applications to fill out. Since the deadlines for school based aid are often very early, every student should contact the financial aid office of his or her school as soon as a matriculation decision is made and obtain the necessary paperwork. This paperwork will often include a general financial aid application, applications for specific scholarships and a student loan application for any loans offered specifically by the school. These applications may require personal information in addition to the financial information required for the FAFSA.
State Loans
Many states offer specific loan programs including low-interest loans, loan forgiveness incentives and career based loans. As with school based loans, these require the completion of a FAFSA and additional application paperwork, often including an additional student loan application, but they are well worth investigating. Because they are partially funded by the state, these loans are more favorable to students than higher interest private loans. In addition, students planning on going into high demand careers or settling in certain areas may find that they qualify to have all or part of their loans forgiven once they satisfy graduation, career and residency requirements.
PLUS Loans For Parents and Graduate Students
The PLUS loan program allows parents or graduate students to borrow money to pay for a college education. The student loan application process for these loans, unlike the loans described previously, requires a modest credit check to establish the credit worthiness of the individual parent or graduate student. Some schools also require a FAFSA on file before they will certify a student's eligibility for one of these loans. Those who qualify have the advantage of obtaining a loan with a relatively low-interest rate that is guaranteed by the federal government. This type of loan is useful for families when other types of financial aid and non credit based loans are not enough to cover educational expenses
Private Student Loans
Private student loans require a credit check, but the student loan application process for them is usually simple, and no FAFSA is required. This makes sense, since these loans are offered by banks and other financial institutions who are trying to make a profit. Because of this, the ability of families to get favorable terms for thee loans is based on credit scores. The simple application process for these loans has led many students to rely exclusively on private funding and ignore all other options. While private loans are a valid avenue to use in funding an education, they should not be the first option considered. Even with great credit, after all, the terms for these loans are almost never going to be as favorable as those available with government backed loans.
The Bottom Line
The student loan application cycle can be challenging, and students need to be informed and educated loan consumers. Financially savvy families must gather records, file tax returns and fill out the FAFSA as early as they possibly can. After the FAFSA has been processed, they need to fill out school and state based financial aid paperwork, being careful to respect all deadlines.
source:http://ezinearticles.com/?id=6352353&Useful-Tips-About-a-Student-Loan-Application=
For this reason, any student who is attempting to procure financial aid should become familiar with the types of loans available and the student loan application procedures that need to be followed in order to qualify for these loans.
FAFSA: The First Step in Financing an Education
The Free Application for Federal Student Aid or FAFSA is the most important scholarship and student loan application that any student must complete. It is also frequently the most complex and tedious application for students and their parents. This is because the FAFSA requires a lot of detailed financial information, including tax returns, from both students and parents. While the application requires time, this form is essential for all students. Filing a FAFSA is not only the sole method of obtaining federal funding for education including Stafford Loans, but this exhaustive form is also a prerequisite for most state and institution based loan programs. Since these types of loan programs tend to offer the most favorable terms for students, filing a FAFSA should be every student's first step in the financial aid process.
Applying for Federal Aid
Even though the FAFSA is free and can be completed online, its exhaustive nature causes too many students to give up and accept private loans with high interest rates and unfavorable repayment terms. A little preparation can help families avoid this undesirable situation, however. Anyone seeking financial aid should be sure to file a tax return as early as possible. As soon as the tax return is done, families should gather the completed return, bank statements and financial paperwork and fill out the FAFSA. Having paperwork on hand will make the process go more quickly, and early filing is crucial in ensuring eligibility for the maximum amount of aid available. It is imperative that families not only file the form before the FAFSA deadline but before the deadlines for individual school and private loan programs. A completed FAFSA is frequently required before students can even submit any other student loan application, and often these deadlines are earlier than the federal deadline.
School Based Financial Aid
Most higher education institutions have financial offices and offer many forms of financial aid and counseling to their students. While a FAFSA is usually required to qualify for school based programs, there are also additional applications to fill out. Since the deadlines for school based aid are often very early, every student should contact the financial aid office of his or her school as soon as a matriculation decision is made and obtain the necessary paperwork. This paperwork will often include a general financial aid application, applications for specific scholarships and a student loan application for any loans offered specifically by the school. These applications may require personal information in addition to the financial information required for the FAFSA.
State Loans
Many states offer specific loan programs including low-interest loans, loan forgiveness incentives and career based loans. As with school based loans, these require the completion of a FAFSA and additional application paperwork, often including an additional student loan application, but they are well worth investigating. Because they are partially funded by the state, these loans are more favorable to students than higher interest private loans. In addition, students planning on going into high demand careers or settling in certain areas may find that they qualify to have all or part of their loans forgiven once they satisfy graduation, career and residency requirements.
PLUS Loans For Parents and Graduate Students
The PLUS loan program allows parents or graduate students to borrow money to pay for a college education. The student loan application process for these loans, unlike the loans described previously, requires a modest credit check to establish the credit worthiness of the individual parent or graduate student. Some schools also require a FAFSA on file before they will certify a student's eligibility for one of these loans. Those who qualify have the advantage of obtaining a loan with a relatively low-interest rate that is guaranteed by the federal government. This type of loan is useful for families when other types of financial aid and non credit based loans are not enough to cover educational expenses
Private Student Loans
Private student loans require a credit check, but the student loan application process for them is usually simple, and no FAFSA is required. This makes sense, since these loans are offered by banks and other financial institutions who are trying to make a profit. Because of this, the ability of families to get favorable terms for thee loans is based on credit scores. The simple application process for these loans has led many students to rely exclusively on private funding and ignore all other options. While private loans are a valid avenue to use in funding an education, they should not be the first option considered. Even with great credit, after all, the terms for these loans are almost never going to be as favorable as those available with government backed loans.
The Bottom Line
The student loan application cycle can be challenging, and students need to be informed and educated loan consumers. Financially savvy families must gather records, file tax returns and fill out the FAFSA as early as they possibly can. After the FAFSA has been processed, they need to fill out school and state based financial aid paperwork, being careful to respect all deadlines.
source:http://ezinearticles.com/?id=6352353&Useful-Tips-About-a-Student-Loan-Application=
Student Loans For College
It seems as though it is easier to get a student loan for college these days. The hard part about how to get a college student loan is "getting a good interest rate." Some people spend years repaying their college student loans. I bet they never imagined how long it would take to to repay their student loans.
Applying for a Student Loan for college
It has become very convenient to apply for a student loan for college. You can be approved for a student loan quickly. Even if you have bad credit you can still get approved for a student loan.
More than likely you may have already received mail or email regarding your pre-approval for a student loan. The catch with these offers is the terms of the student loan. The main objective of the sender is to try and lock you into thinking you qualify for a student loan, without paying much attention to the terms of the loan. Then they hit you with high interest rates and high monthly payments once you graduate.
Repaying a College Student Loan
There is a high number of college students who graduate in debt. They took out a student loan for college and are becoming overwhelmed with monthly payments which results in Student Loan Debt. Fresh out of college a good job plus financial freedom. Exactly that makes it so easy to want to put your payments on student loans "off" so you can buy a car or rent an apartment. This is not good because to avoid student loan debt repaying your student loans has to be a priority once you graduate. Think logically or think "student loan debt."
Some students have graduated and have no clue about their student loan payment options. This happens all of the time because a lot of college graduates do not know where to find information regarding their student loan debt.
Student Loan Debt Relief
Is there a solution for student loan debt? If you need more financial freedom from your student loans your lender won't mind extending your student loan payment time. This is because they will still be paid, just over a longer period of time.
Usually this results in the student paying more money over time with these low monthly long term payments. Student debt relief? Absolutely 15 years later when you finally finishing paying off your loan.
College Student Loan Alternatives
A scholarship is the first thing that should come to mind when you think about college tuition. Contrary to this a student loan should be your absolute resort.
Before considering a student loan following these steps will help you make the best out of your college financial aid query:
The steps listed above start with free sources of financial aid for college. The last few steps of applying for student loans and making payments.
When you can't get any scholarships or grants and you need a student loan you should take the following steps:
Find a good Student Loan -Lender
Compare rates to accomplish step 1
Have someone who can be a co-signer of the student loan
Try to be in good credit standings
Get a few free credit reports to accomplish the previous step
When you find a good rate think about the long term
Don't get rates that you can't pay when you graduate college
Began making payments immediately upon graduation (with the exception of the grace period)
Student Loans for College Recap
When applying for a student loan for college, understand the terms clearly.
*When repaying a college student loan make it a priority and understand your grace period options.
Shop around for the best student loan interest rate and payment terms.
Remember it is a loan for college, don't let the payments linger for 30 years.
It is strongly advised that you consider all of your sources for free college financial aid before considering a student loan. Follow the appropriate steps listed in this article and you will find financial aid for college or have a better understanding of how to approach Student Loans for College.
source:http://ezinearticles.com/?id=1113194&Student-Loans-For-College=
Applying for a Student Loan for college
It has become very convenient to apply for a student loan for college. You can be approved for a student loan quickly. Even if you have bad credit you can still get approved for a student loan.
More than likely you may have already received mail or email regarding your pre-approval for a student loan. The catch with these offers is the terms of the student loan. The main objective of the sender is to try and lock you into thinking you qualify for a student loan, without paying much attention to the terms of the loan. Then they hit you with high interest rates and high monthly payments once you graduate.
Repaying a College Student Loan
There is a high number of college students who graduate in debt. They took out a student loan for college and are becoming overwhelmed with monthly payments which results in Student Loan Debt. Fresh out of college a good job plus financial freedom. Exactly that makes it so easy to want to put your payments on student loans "off" so you can buy a car or rent an apartment. This is not good because to avoid student loan debt repaying your student loans has to be a priority once you graduate. Think logically or think "student loan debt."
Some students have graduated and have no clue about their student loan payment options. This happens all of the time because a lot of college graduates do not know where to find information regarding their student loan debt.
Student Loan Debt Relief
Is there a solution for student loan debt? If you need more financial freedom from your student loans your lender won't mind extending your student loan payment time. This is because they will still be paid, just over a longer period of time.
Usually this results in the student paying more money over time with these low monthly long term payments. Student debt relief? Absolutely 15 years later when you finally finishing paying off your loan.
College Student Loan Alternatives
A scholarship is the first thing that should come to mind when you think about college tuition. Contrary to this a student loan should be your absolute resort.
Before considering a student loan following these steps will help you make the best out of your college financial aid query:
1) Apply for Scholarships
2) Apply for Grants
3) Apply for student loans
4) Take advantage of Student Loan options
5) Don't fall victim to Student Loan Debt
The steps listed above start with free sources of financial aid for college. The last few steps of applying for student loans and making payments.
When you can't get any scholarships or grants and you need a student loan you should take the following steps:
Find a good Student Loan -Lender
Compare rates to accomplish step 1
Have someone who can be a co-signer of the student loan
Try to be in good credit standings
Get a few free credit reports to accomplish the previous step
When you find a good rate think about the long term
Don't get rates that you can't pay when you graduate college
Began making payments immediately upon graduation (with the exception of the grace period)
Student Loans for College Recap
When applying for a student loan for college, understand the terms clearly.
*When repaying a college student loan make it a priority and understand your grace period options.
Shop around for the best student loan interest rate and payment terms.
Remember it is a loan for college, don't let the payments linger for 30 years.
It is strongly advised that you consider all of your sources for free college financial aid before considering a student loan. Follow the appropriate steps listed in this article and you will find financial aid for college or have a better understanding of how to approach Student Loans for College.
source:http://ezinearticles.com/?id=1113194&Student-Loans-For-College=
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