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The average college student graduating this year will be responsible for repaying student loans anywhere from $10,000 to $100,000 or more. One of the most important financial decisions these gr

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

aduates will make is how they pay back their loans.

Protecting Your Credit

Student loan repayment has a direct impact on your credit ratings and, consequently, on your prospects for fu

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ure loans and financial well-being. If your student loan is more than 85% of your total monthly income, it will be assessed as a negative, and negative credit information can remain on your cre

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

it report for up to 7 years. Obviously, it’s important to repay your student loans in a timely and orderly fashion.

Consolidation

One repayment option, the one most consider the best,

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

s to consolidate your loans. There are no application fees, credit checks, or cosigners required for a student loan consolidation. There are, however, many different educational finance organiz

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

tions offering consolidation and before you apply to any particular agency, it’s important you research the subject of student loan consolidation carefully. Ask questions--once you have signed

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

he papers, it’s a legal and binding contract difficult to get out of.

Benefits of Consolidation

There are many variations on the theme, but what all programs have in common is that the

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

will combine your loans into one. The benefits of this include:

A single, monthly payment to one lender, instead of many payments to various lenders, each due on a different day.

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

>An extended repayment period. The original repayment term for most student loans is 10 years. Extending the terms up to 30 years can significantly reduce monthly loan payments.

An im

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

roved credit score. The single, smaller monthly payment for your student loans can reduce your debt/income ratio and improve your credit profile.

The elimination of prepayment penalti

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

s. With consolidation, you’ll be able to pay your debt off in full when you want or are able.

Criteria for Consolidation

You are eligible to consolidate your federal student loans

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

when:

You are no longer enrolled in school (defined as being enrolled less than half time)

You are in the grace period of your loan or actively repaying your loan.

You

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

meet the minimum loan requirement. Most consolidation companies require a minimum loan amount, $10,000 is typical.

Federal vs. Private

Do not consolidate federal and private loans

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

together. Interest on federal loans is tax deductible; federal loans can sometimes be forgiven for certain types of service; and you can sometimes defer payments on federal loans if you go back

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

to school. Private loans don't have these advantages. If you have both private and federal loans, consolidate your federal student loans first, then separately consolidate your private loans. T

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

e following federal loans are eligible for consolidation:

1. Stafford Loans
2. Perkins Loans
3. Federal Direct Loans
4. Federal Parent Loans for Undergraduate Students (PLUS)

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

5. Federal Grad PLUS Loans
6. Federal Supplemental Loans for Students (SLS)
7. Federally Insured Student Loans (FISL)
8. National Direct Student Loans (NDSL)
9. Loans for

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

isadvantaged Students (LDS)
10. Auxiliary Loan to Assist Students (ALAS)
11. Health Education Assistance Loan (HEAL)

The Fine Print

Debt consolidation agencies can assist

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

you in many ways, the most important of which is reducing your interest rates. They will contact your creditors and negotiate a reduction in your rate of interest and your monthly payments. Som

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

can qualify you for further debt reduction programs. But, do not agree to monthly payments you cannot meet. Make sure the amount of your obligation allows you to pay your regular monthly bills

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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