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| Student Loan Debt Controlling |
 4) Make your payments convenient
• Consolidate your loans (if this option is appropriate for you) so that you have one monthly payment.
• If you do not consolidate, have your lender combine your loan payments on one monthly bill.
• Have your monthly payments automatically deducted from your bank account.
5) Know what you are entitled to
• Some lenders propose you “advantages” that are not unique advantages; they are really just entitlements that all student loan borrowers get from the federal government. These include:
o Fixed interest rates
o No fees
o No credit checks
o No prepayment penalties
o Rates that are “0.6% lower if you consolidate while still in school, or in your grace period.”
• Another entitlement on your federal student loans is the right to have a deferment or forbearance on your loan if you meet the federal requirements. Selecting a particular lender will not influence this entitlement.
 6) Know what will cause you to lose the benefit the lender provides
• Many people evaluate a consolidation loan using the advantage offering. You should also know what can cause you to lose the advantage.
• Clear up what the grace period is for a late payment. Some loans do not offer any grace for payments. In this case, a payment due on Saturday has to be processed on Friday or you will be late.
• Seek for advantages that become “permanent.” Some advantages will not work if you have one late payment over the life of the loan.
• Watch out the automatic withdrawal (referred to as Automatic Clearing House, or ACH) and the benefit that are tied together. If you lose the withdrawal option, the benefit ceases, too.
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