Clear Student Debt Without Consolidation

When looking for a debt reduction solution to clear student debt, many people go right to consolidation. Consolidation services advertise heavily and you might think that it is the only true debt elimination solution available, but make sure you know the full story. There are three main reasons why consolidation is not the best option to clear your student debts:

1. Consolidation can keep you in debt longer
2. Consolidation services charge fees and payoff penalties
3. Your overall interest can increase with consolidation

Student Loan Consolidation Keeps You in Debt Longer

Typically when you consolidate your loans in order to clear student debt, the service will ‘reset’ the terms of the loan. This means you’re basically starting over with your monthly payments, which includes the overall principal and interest. Depending on the new terms of your consolidation, you might be adding another 30 years to your overall debt time!

Consolidation Services Tack On Fees

You might be surprised to find out that some consolidation services actually make you pay a penalty when you clear your student debt earlier than anticipated! That doesn’t sound like a true debt elimination partner. Other services tack on set-up fees, repayment fees and administrative fees – all which add to your overall payoff amount. If your overall debt increases, so does the amount you are paying in interest.

Consolidation Can INCREASE Your Overall Interest

When you are trying to clear student debt, one of the most important factors to consider is the overall amount of interest. As mentioned in the paragraph above, when consolidation services add on fees, your overall principal and interest will go up. Plus, some services offer a low variable interest rate at the start of the consolidation. These look attractive at the start, but when the introductory period is over the service might hike up your rates to higher than what you paid before consolidation!

Options to Clear Student Debt Without Consolidation

There are debt reduction options that do no include consolidation. Again, it’s important to examine each of them so you know what you’re getting into:

1. Adjust your payments to stay within the current repayment term – Some student loan services will allow you to lower your monthly payments at the beginning of the payback period. This method assumes your income will increase over a period of years, so you end up with much higher payments at the end of the loan. It’s important to be cautious about this option to clear student debt since you’re basically committing to earning more income in a short amount of time.
   

2. Extend the repayment plan – This is another option to clear student debt without consolidation. Basically, you extend the life of your loan so you are making smaller monthly payments. But if you’re in debt longer, you will be paying interest longer and that could add up to thousands of dollars!
   

3. Try the true debt reduction option – A third option to clear your student debts is the Money Merge Account® program. The Money Merge Account system is a software-based program that allows you to use your current income to eliminate personal debt in as little as 1/3-1/2 the time!

The Money Merge Account System is the BEST Way to Clear Student Debt

The base of the Money Merge Account system is the accelerated debt reduction software that centralizes all of your income, expenses and debts. It then runs complex algorithms to analyze every factor of your student debts to determine how to use your existing income to pay off your debts in the quickest manner possible. Once it provides that “blueprint” to you, it will guide you every step of the way to eliminate student debt.

The debt reduction software alerts you exactly when to make payments, and in what specific amounts, to each one of your student loans or other debt in order to maximize the amount paid on the principal. Doing this allows you to eliminate overall debt and cancel future interest charges!

The Money Merge Account program also prompts you to strategically move your money to and from a savings and checking account in order to maximize the amount of interest you are earning on your money. By using your money to make more money you will be able to make higher principal payments to eliminate your student debt much faster.

You only need three things to start eliminating personal debt today:

1. Checking account
2. Savings account
3. Money Merge Account powerful debt reduction software

Get your complimentary analysis today and you’ll immediately see the date when you will clear student debt for good. You don’t need student loan consolidation services that will lengthen your time in debt or raise the amount of interest you pay. You simply need the Money Merge Account debt reduction program.

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