Related Consumer Finance Programs - The following lists of companies and financial service providers offer services to assist you with handling your debts. Combine debt with a consolidation loan or use a credit counseling or debt relief program for help with lowering your payments and getting your credit card bills and other obligations under control.

• Personal Loan Consolidation - Need a smaller loan? Personal loans are most often unsecured. That means you do not have to secure them with personal assets in order to do a debt consolidation. This type of financing is typically based upon your credit history and your ability to make your payments.
• Debt Consolidation Company - Are your bills piling up? Lower your monthly payments and consolidate them with a debt consolidation loan or a related service.
• Debt Management Programs - Too many credit cards and other bills to make monthly payments on? Start here by reviewing and comparing different debt management options for getting help with your credit card bills and other monthly obligations.

Paying for College ... the Smart Way

Loans for higher education can be costly so take the time to research your options

44. Youth is no excuse for defaulting on a loan. At some point, perhaps after graduation, the loan payments will begin. How a young person manages student debt can be crucial. "Other loans, such as credit cards, and high living expenses can make it tough for a student or graduate to pay off college loans," Daniels cautioned. "The non-payment of a student loan is a bad way to start your career because your credit report will be damaged and the ability to obtain new credit or even qualify for certain jobs may be jeopardized."

To help stay out of trouble, he recommends getting a job, setting and sticking to a budget that includes money for loan payments, and building an emergency savings fund. But what if your good intentions fail and you have no way of making a payment? Contact the lender immediately. "Many lenders would rather work out some modified payment plan than have the borrower stop making payments completely," Daniels said.

For more information, start at www.students.gov, a comprehensive Web site with information from the U.S. government and other sources on topics such as paying for college.

FDIC Consumer News is published by the Federal Deposit Insurance Corporation

FDIC Consumer News is produced quarterly by the FDIC Office of Public Affairs in cooperation with other Divisions and Offices. It is intended to present information in a nontechnical way and is not intended to be a legal interpretation of FDIC or other government regulations and policies. Mention of a product, service or company does not constitute an endorsement.

Find current and past issues of FDIC Consumer News at http://www.fdic.gov/consumernews. Refer to this same index to locate the issues that are specially formatted for being reprinted in any quantity.

To receive an e-mail notice about each new issue of FDIC Consumer News posted on the FDIC Web site, with links to stories, follow instructions posted at www.fdic.gov/about/subscriptions/index.html.

Last updated on 8/10/2007

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