| The federal student loan consolidation program is | | | | With current student loan consolidation borrowers |
| heading down a path leading to interest rate | | | | who still are in school can receive a 4.75 percent |
| increases. On July 1, 2006 interest rates are | | | | interest rate that will be in effect for the life of the |
| expected to increase and fixed rates no longer will | | | | loan if the process is complete before July 1. A 2.75 |
| be available. | | | | percent interest rate now is available to eligible |
| With the changes set to occur in approximately two | | | | borrowers. This low rate includes applied benefits that |
| months it is important for college students to | | | | typically feature the use of Auto Debit and incentives |
| consolidate prior to the July 1 deadline. Following that | | | | for making 36 consecutive on-time payments. |
| date, the lives of student borrowers throughout the | | | | Student Loan Consolidation Makes Life Easier |
| country easily could take a turn for the worse. With | | | | When college students graduate they oftentimes are |
| all the expected negative changes, students could | | | | left with numerous student loan bills of differing |
| find it impossible to consolidate their loans after July 1. | | | | amounts all with high interest rates. After adding |
| By taking action now, student borrowers will save a | | | | everything up, most students find they have |
| lot of money in interest - money that could be used | | | | exorbitant monthly student loan bills. With the high |
| for more important things in their lives. | | | | price of college, the interest rates on loans make |
| Instead of paying for rent and the necessities of life | | | | things worse, especially for borrowers who do not |
| after graduation, borrowers who do not consolidate | | | | consolidate their student loans. Those borrowers |
| their student loans could find themselves with | | | | should take into consideration that they can |
| extremely high monthly student loan payments, not | | | | consolidate student loans while in school or after they |
| to mention thousands more in interest than is | | | | graduate. |
| necessary. | | | | The last thing students need after graduation is a pile |
| Student Loan Consolidation Can Save Thousands | | | | of student loan bills to pay. Following graduation |
| However, by consolidating student loans before July | | | | students have to find a job and a place to live. Along |
| 1, borrowers can lock in a lower, much more | | | | with rent and other everyday expenses, numerous |
| reasonable rate, which, over time, will save | | | | student loan bills with high interest rates will make |
| thousands. The lower monthly payment also will | | | | things worse. Student loan consolidation will bundle |
| enable student borrowers to breathe easier knowing | | | | together all of a student's loans into one easy |
| they have extra cash to put toward other everyday | | | | payment, which makes life simpler. In effect, it also |
| needs. | | | | will save thousands over the years. |