In the financial sector, the number of commercial banks in the US has declined rapidly, from 11,462 at the end of 1992 to 5,809 in 2014, while credit unions in the US went from 10,316 in 2000 to 6,491 in 2014 (Greer, 2014).
But why is there such a rampant pace of consolidation?
One of the best places to start looking is the federal Direct Consolidation Loan program.
If you did borrow money for college, chances are you received a new loan each semester.
Even though understanding consolidation is easy, it can be difficult for students to determine whether or not the concept is right for them.
Debt consolidation is a strategy for consumers to combine their unsecured debt into one monthly payment.
You most probably will face a different situation each and every day.
If you are swimming in debt, you’re bound to start looking for a way out.
Many people see debt settlement –an option that advertises to help you pay off your debt for much less than what you owe– as a way out of their financial woes.
That is a sizeable, unwelcome gift to take home from school and it’s important to know how to minimize the damage.
The good news is that federal loans carry a six-month grace period so there is time to develop a plan for dealing with them.
Do we live in an age where media oligopoly runs rampant without any check?