These days, it is not surprising that most students pursuing a higher form of education to be competitive in the job market will find themselves incurring several loans. Six months after they graduate, they have to start paying all the loans they have incurred. However, not everyone can be employed immediately. What then should a student do to pay his mounting bills? It can be a very difficult time for anyone who is pressured looking for a job, at the same time, struggling to make ends meet. One of the best solution to this problem is to apply for a student loan consolidation offered by Citibank.
Citibank, a worldwide financing institution, offers you a comfortable and easy-to-manage solution in handling your different loans. Whether the loans you have are private or government, it will be compounded into one. The effect of which will certainly take a lot of pressure out from struggling to pay your accounts. It simply means that Citibank will be the one who will pay off all your existing loans and the amount paid will then become another loan you will take on.
The student loan consolidation program offered by Citibank gives you a chance to choose a longer repayment period of up to 30 years. Longer repayment period means smaller monthly payment. Definitely, this is to your advantage while you are still in the process of finding a stable employment.
One important benefit in consolidating student loans through Citibank is getting a fixed interest rate for the whole loan period. This interest rate is slightly lower compared to other individual loan rates. You can be assured that even if there will be an increase in the interest rate based on the current market in the future, your loan interest rate will not be affected.
Citibank gives out loan benefits to its borrowers. If you are enrolled in the automatic debit payment, the bank will give you 1/4% interest discount. Another percent interest rate discount will be given once you are able to maintain good standing and up to date payments for the next 36 months. These are wonderful benefits offered by Citibank to encourage their clients to build and maintain good credit standing. Getting a good credit score is very beneficial for future endeavors like applying for car, housing and business loans.