Cedar Education Lending Provides Guidance on the Private Student Loan Consolidation Process

Save time and money with a private student loan consolidation from Cedar Education. Make sure you have all your private student loan information handy before you begin the consolidation process.

New York, NY (PRWEB) October 26, 2011

As the expiration of the private student loan deferment period nears, many May graduates should consider their eligibility for a Cedar Education Private Student Loan Consolidation. In order to make the parameters of Cedar Ed’s private student loan consolidations as clear as possible, please review the tips listed as follows:

1) The borrower is a recent graduate (within the last 5 years) from an accredited school (see our application page for details).

2) Recent undergraduate students should consider consolidating between $7,500 and $100,000 in private student loans and up to $150,000 for graduate students.

3) Borrower and/or co-signer is a US citizen or US permanent resident

4) Borrower has good credit and minimum annual income equal to loan amount or must apply to creditworthy co-signer

5) Make sure you have all the loan details handy. The borrower will need to know the loan amounts and contact details of the lender.

Federal student loans cannot be consolidated with a Cedar Ed private student loan consolidation. For more information on a federal student loan consolidation, more details on the process can be found here: http://www.loanconsolidation.ed.gov/

Cedar Ed will soon announce a Private Student Loan Consolidation Calculator applicants to estimate the cost savings and potential monthly payments of a consolidation loan to determine whether or not consolidation is right for you. The calculator uses borrowers’ remaining loan balances and existing monthly payments to determine the impact of a consolidation loan on their monthly finances.

Take your post-education finances seriously. Visit us at: http://www.cedaredlending.com

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For the original version on PRWeb, visit: http://www.prweb.com/releases/prweb2011/10/prweb8908193.htm

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