Are you sick of paying interest on your monthly student loans with no end in sight? Afraid of cash-flow problems that may prevent you from paying your student loans on time? I know I was and there is a solution to this problem. It is called student loan consolidation.

What is Student Loan Consolidation?

Student loan consolidation simply means consolidating all your student loans into a single loan with a monthly payment plan. Effectively, all your previous student loans are written off and a new student loan is created which you have to pay off monthly.

Benefits of Student Loan Consolidation

Here are some of the benefits of student loan consolidation

1. Lower monthly payments

By consolidating all your student loans into one loan, you only need to pay off one loan monthly instead of several student loans monthly. Thus, your monthly payment is lower

2. Pay only one loan monthly instead of several student loans monthly

It is a lot easier if you have to manage only one student loan instead of several student loans with different payment deadlines. Also, sometimes with many student loans, you may ended up forgetting to pay one student loan.

3. Low, fixed interest rate

By consolidating your student loans, you will be able to take advantages of low, fixed interest rates. Currently, by law, student loan consolidation rates cannot exceed 8.25%. Furthermore, national interest rates are at a 40-year low therefore this is a good time to get one.

4. No credit card check or processing fees

No credit card check is required during the application of a student loan consolidation. The payment plans and terms are usually quite flexible in that they can customize it according to your financial standing.

5. Make monthly student loan payment electronically

While it is not necessary to make payment electronically, most lenders will knock 0.25% off your student loan rates if you make payment electronically. Also, using direct debit from your bank account will prevent you from forgetting to make a payment.

Sometimes it can get quite confusing as to the qualification of applying for a student loan consolidation. The official stand from the government is that students who are still in their grace period or who are still studying in school may qualify for government student loan consolidation

The government student loan consolidation nowadays are quite competitive compared to private sector, therefore I would recommend going for a government student loan consolidation. With so many benefits of getting a student loan consolidation, it is quite obvious to save money in the long run is to get one.

Starting a restaurant is not just an exciting and rewarding experience, but also a time consuming and demanding task. Opening a restaurant involves having a unique vision and working within your financial means.

The following is a list of helpful tips on how to start a restaurant:

Create a Unique Restaurant Concept: The restaurant business is highly competitive so make sure your restaurant is different from the other restaurants in the area. For instance, it may not be a good idea to open a Chinese restaurant in an area that is populated by other Chinese restaurants. It is important to do your research about what type of people frequent the area. For instance, a family orientated area may not be a good area for a high price restaurant.

Enlist Consultants: Get some feedback from other restaurant owners. They will be able to offer advice and have support contacts. Professional consultants will help with any management and financial issues that may arise. Hire an architect to design the layout of your restaurant. Have a fairly accurate idea of how you want the restaurant to appear and operate. Hire a licensed contractor to do the remodeling and renovation.

Business Plan: It is important to have a professional business plan that is detailed and shows how you will become profitable. You can enlist the services of a small business assistance organization. They will help you with budgeting and how to acquire funding.

You have to consider such as expenses as: insurance, equipment, lease payments, utilities, payroll, permits, renovation, supplies-etc.

Type of Restaurant: Consider such restaurant features as the size, number of seating, size of kitchen, bathrooms-etc. You also have to consider whether you will offer counter service or even a drive-thru service. Remember you will have to secure zoning permits, health permits, and other building permits before you open. Health regulations and requirements are determined by provincial governments, municipalities and regional health authorities. You will also have to submit a number of forms for approval from various governmental agencies. An established restaurant zoned area will significantly reduce time and stress.

Assess Restaurant Features: Before you purchase or lease the restaurant, do a walk- through with a building inspector to asses such features as wiring, plumbing, and whether the restaurant meets disability access guidelines. You should find out what renovations and upgrades will be needed. This should be included in your budget. Restaurants need to have a good roadside view and an abundance of parking space.

Alcohol Beverages: Determine if you will serve any alcohol and what type such as wine, hard liquor, and beer. You will have to secure a liquor license.

Menu: Design and create a menu that customers will love. This will encourage repeat customers.

Starting a restaurant is a rewarding experience when you have a plan. Having a step-by-step plan will make the experience much easier. Remember, your restaurant will have a greater chance of success if you love the concept and are happy with all of your decisions.

Today’s career minded students can get help with the burden of having several student loans. One can focus on their chosen career, instead of losing sleep over paying several monthly student loan payments. Student loan consolidation can be the solution with several advantages.

How Student Loan Consolidation Works

Here is typically how a student consolidation loan works. When a student first applied for several loans from several different agencies and student loan providers, they each gave a different interest rate and term for paying back the loans. The idea of student loan consolidation, is to take all the different student loans and put them into one easy convenient loan. You them only have to make one monthly loan payment every month, instead of several loan payments every month over time. This saves the student both time and money. Having a lower interest rate and less checks to write every month are a couple of advantages of doing a student loan consolidation.

5 Helpful Benefits of Student Loan Consolidation

1. Lower Monthly Payments. Depending on your student loan situation and the type of lender you choose, you may be able to lower your monthly payments by up to 50%

2. Having Simple Loan Payments. By consolidating your student loans, you only have one loan payment per month and one check to write. This is very beneficial if you are writing several checks every month to multiple lenders.

3. Having Fixed Interest Rates. With some federal consolidation loans you can have a fixed rate for the life of your student loan. It’s best to do research to see what the best interest rates and term you are eligible for. You can check online to calculate the interest rate on a new student consolidation loan based on the rates of your current student loans. You can then round up to the nearest 1/8th of a percent of the weighted average of the interest rates on your eligible student loans.

4. Extending Your Payment Period. You may have a lot of student loan debt. With federal consolidation loans you may be able to extend the payment term up to 30 years. It’s a good idea to realize you will end up paying more interest over the life of your student loan consolidation. The idea is to get some leverage until your career takes off. You can focus on making money instead of several monthly loan payments.

5. In School Consolidation Programs. While still in school, eligible students can lock in a low rate. This would put you into repayment status, but since you are still in school, you are automatically put into deferment. The drawback of consolidating your loans while in school, is that you lose your 6 month grace period. The solution to this would be to request forbearance for up to 1 year on your student loan consolidation. Here again you can do some research and get more information online.

Student Loan Consolidation Help Online

With today’s Internet technology, you can get a student loan consolidation quickly and easily. The Internet makes research and finding great programs, easy as a few clicks of the mouse. You can learn everything you need to know from information sites that provide the latest news and data in regards to student loan consolidation. With just a few clicks of the mouse, you now can get loan quotes and compare loan companies without having to run all over town.

Student Loan Consolidation Helps Relieve Stress

Student loan consolidation can help student loan borrowers focus on their education, instead of debt. With a single new loan and lower monthly payments, you can focus on what’s most important, education and your new career. There is no need to lose sleep stressing out about how you’re going to pay back all those student loans. There are several agencies and companies online that can help with many resources and information to get the help you need.

You are getting a few student loans to support your study. After the graduation, you need to start repaying these student loans. These student loans come with different interest rates and they have different repayment due date for each month. You may find it difficult to manage your multiple student loans and any late payment or miss payment may hurt your credit rating.

Student Loan Consolidation Program is a loan repayment program for college students and graduates with multiple student loans to make their repayment easier. However, before signing on the dotted line, it’s important for students to understand some basic facts about consolidation.

What A Student Loan Consolidation Program Does?

The student loan consolidation program allows you to combine all your outstanding student loans. For example, if you have three separate government student loans, you can consolidate them into one single loan. Technically, all three of those loans will be considered paid in full and a new loan will be started in their place. The basic concept is you are getting a new loan to pay off all your outstanding student loans; which mean instead of having 3 student loans with 3 repayment amount and due date, after the loan consolidation, you only have one loan with one repayment amount and one due date. It will enable you to manage your loan easier.

How A Student Loan Consolidation Program Will Help?

By consolidating your outstanding student loans through student loan consolidation program, you basically can enjoy at least 3 benefits:

1. More Convenient

With multiple student loans, you will have to make multiple payments every month; that means there are more paperwork and due dates to keep track of. There are more chances that you may miss one of them and cause you to make late payment. You can get rid of this hassle by consolidate them into single repayment and make you easier to keep track only one payment with one due date and one repayment amount.

2. Save You Some Money

All loans come with interest, so do the student loans. Although student loans normally have lower interest rate, student loan consolidation program may be able to negotiate a lower interest for your new consolidation loan than all your current loan rates and save you some money on interest. For example, you have 3 outstanding loans may be required to make $150 payments each month to all three lenders. That is a total of $450 per month. After consolidation with only one payment is required and that payment is usually much less than the combined payments from all of the loans. This can be huge benefit to you especially if you are new graduate who are just getting started in your careers and who don’t have the income necessary to cover large loan expenses right away.

3. More Repayment Possibilities

Consolidating your student loans may open up additional opportunities for you. You may be offered with deferment choices and/more repayment possibilities. These offers can come in handy if you wish to further your education to another level, struggling to find employment in your field or experiencing financial hardships.

In Summary

Managing your multiple student loans are not too hard but you can make them more convenient and easier by combine them into one through the student loan consolidation program and enjoy the benefits it can offers. However, before enrolling into any of the student loan consolidation program, you need to understand the details and ensure the package is really inline with you financial needs.

How To Cut Operational Expenses / Useful Tips For The Small Business

When it comes to cost management, it’s the everyday expenses that are most often overlooked by small businesses. Experienced cost management consultants like AMK Associates in New York often start with these overlooked items to give their clients an immediate boost to their bottom line. Here are some simple tips for cutting your operational expenses without compromising quality or reducing your staff:

Office Supplies

* Use generic versus brand names whenever possible. Many brand name suppliers make generic versions of their products, so you won’t sacrifice quality. For example, use 3M’s Highland Self-Stick Notes instead of their Post-It’s notes and save more than 50 percent per unit.

* Always ask for a price break. Most vendors will not quote you their best price unless you ask. So ask!

Equipment Leasing vs. Purchasing

* Buy anything small enough to set on your desk; otherwise, lease it. Leasing gives you the option to upgrade or downgrade, depending on your needs and changes in technology.

* Keep leases under 36 months. Buy smaller equipment such as fax machines and printers (Brother and Epson are great); while their prices constantly drop, the technical capabilities do not change significantly.

Messenger Services

* Analyze where your packages are being delivered

* Then, negotiate a broader delivery range and pay a fixed price.

Equipment Insurance

* All leasing equipment companies automatically charge for insurance, even though your current policy may already cover it. Register your leased equipment with your insurance broker so it can be added to your current policy.

* Then request a Certificate of Insurance (COI) from your broker, and submit it to the equipment leasing company. Otherwise, you will double your insurance charges.

Shipping

* Handle shipping costs on a case-by-case basis. Know the shipping policies of each vendor and choose the best vendor for each item to be shipped.

* For instance, if the weight is not stated on a package, some shipping companies will charge customers for a five-pound parcel. To avoid this, preprint air bills with one pound, and most vendors will adjust the poundage if the package weighs more or less.

Printing

* If your letterhead text won’t change the same for a six-month period, print in bulk. It saves both money and time. Don’t worry about storage; most printers will store the inventory and ship at no additional cost.

* If your printer won’t store it for free, negotiate storage and shipping into the overall price of the print job.

Telecommunication

* If your total telecom costs for both voice and data are $3,000 or more, consider a T-1 connection. While you will be charged a recurring monthly fee, your per-minute rate will be significantly lower.

* Check to make sure your phone company is charging you in six-second increments. If not, you will pay for a full minute for every fax you send, even though it transmits in seconds.

Service Contracts

* Don’t automatically get costly service contracts for every piece of equipment. You may find it more cost-efficient to simply pay for time and materials; even as much as $175 per hour if repairs are necessary.

* Some service contracts are advisable, but be cautious. For example, most telecommunication contracts include the PBX (console), as well as each individual telephone. Though it is advisable to insure the console, there is little need for insurance coverage on the phones.

The Bottom Line

By making these minor purchasing changes, you can cut your operational expenses significantly. Cost management consultants can uncover additional savings by analyzing other expense items, designing more efficient systems and aggressively negotiating with vendors. It’s tedious, meticulous, detailed work that many small business owners and managers would rather avoid (much like filing income taxes). But just like income tax filings, business owners can offload the work to experienced cost management consultants to keep their focus on running their businesses and maximizing their bottom lines.

Arleen Kahn is founder and president of AMK Associates (www.amkassociates.com), a New York City-based cost-management consulting firm. For more information on how you can impact your bottom line through cost control, contact Arleen at 1-888-345-8008 or amk@amkassociates.com.