SOURCE: Edvisors

October 10, 2007 12:00 ET

Student Loan Network Announces Private Student Loan Consolidation Services

Private Consolidation Loan Helps Students Manage Post-Graduation Expenses

QUINCY, MA--(Marketwire - October 10, 2007) - The Student Loan Network announces the addition of another student loan consolidation product to its portfolio of Student Loan products in time for the end of many students' grace periods. The Student Loan Network Private Consolidation Loan is designed to help students refinance private alternative, non-federal education-related debt, and rounds out Student Loan Network's consolidation package, which also includes Federal Student Loan Consolidation.

Private student loan consolidation comes at a time when education debt is on the rise; the average debt in the class of 2006 is roughly $21,100, according to Greentree Gazette. Federal loans often don't cover rising tuition expenses, so many students turn to private student loans to make up the difference. When loan repayment begins after graduation, students find themselves with federal and private loan payments. Now, the Student Loan Network can help these students consolidate all of those loans.

"Loan Consolidation -- whether for private or federal student loans -- offers many benefits for graduates," explains Jonathan Rudy, Director of Loan Consolidation at Student Loan Network. "Upon graduation, many students find themselves with high monthly loan payments. Student loan consolidation helps them meet their monthly payments and establish themselves financially while lowering their monthly costs. The Student Loan Network is proud to be adding another great product to our growing portfolio of student loan products aimed at making funding an education a reality."

The Student Loan Network's private consolidation loan offers a reduced interest rate during the first year of repayment. The loan also has the option for interest-only payments in the first two years, to help students effectively manage their monthly payments following graduation, a time when many students are just getting on their feet financially. The new private consolidation loan offers many additional benefits, including low origination fees, an origination fee rebate after 48 on-time payments, guaranteed approval with qualified co-signer (co-signers are highly recommended for private consolidation loans), and flexible terms and funding options. Visit www.StudentLoanConsolidator.com/private to learn more about specific benefits or call toll-free (866) 496-5787.

Student Loan Network is one of the nation's fastest growing providers of student loans and related information. Since 1998, we have helped approximately 25 million students and parents access over $1 billion in federal and private student loans, scholarships and consolidation funding for undergraduate, graduate and continuing education. To help make the confusing and stressful financial aid process easier, the Student Loan Network also delivers helpful information, including the award-winning Financial Aid Podcast, a multitude of financial aid-related blogs and the monthly Financial Aid Newsletter. Learn more about the Student Loan Network at www.studentloannetwork.com.

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