| Many college students find that as they near or | | | | apply early. |
| shortly after graduation that they are going to have | | | | You should understand that not everyone will qualify |
| to start making payments on all the student loans | | | | for a Direct Consolidation Loan. In many cases it will |
| they have accumulated over the past several years. | | | | depend on the type of student loan and when the |
| It is not uncommon for graduates to have four or | | | | loan was granted. You must be a student and |
| more education related loans amounting to $50,000 | | | | attending a Direct Loan university or college and you |
| or more. In many cases consolidating these loans will | | | | must have at least one Direct Loan or federal |
| help lower monthly payments and may even lower | | | | educational loan that was granted during the time |
| interest rates. That is why it is so important to find | | | | you were in school. You really need to do your home |
| good student loan consolidation advice. | | | | work and seek qualified student loans consolidation |
| Most people do not realize that Direct Federal | | | | advice at your university financial aid office. |
| Student Loan interest rates are tied to 91 day | | | | Doing a good job of comparing the benefits and |
| Treasury bills that the Treasury Department auctions | | | | costs of your Direct Consolidation Loan may save |
| off on a regular basis. The rate of interest on T bills | | | | you thousands of dollars over the life of the loan. |
| at the end of June each year sets the interest rate | | | | Remember you will be paying on your student loans |
| for next year or until June 30th the following year. In | | | | for many years to come. Negotiating for income |
| recent months due to the mortgage crisis and the | | | | sensitive payments or interest rates will become |
| threat of recession the Federal Reserve has lowered | | | | very important as you begin your tenure in the job |
| the prime rate to close to 2%. As a result the prices | | | | market. Even a slight reduction in interest rates over |
| at auction for T Bill should also be falling. It may be a | | | | a period of 10 years can yield big savings. |
| wise decision to wait until after July 1st to apply for | | | | As you can see a Direct Consolidation Loan will in |
| Direct student loan consolidation packages. | | | | most cases be a good Idea. It may help you to |
| It is important that you do not delay after that date | | | | manage your student loan debt and your budget |
| as it may take as much as 60 days for your Direct | | | | when you first enter the job market when your |
| Consolidation Loan to be approved. If you are in | | | | income is low. In addition it may save you a |
| school you may need to use the consolidation | | | | substantial amount of money over the life of the |
| process to acquire additional funding for the coming | | | | loan. Again the key to success in this endeavor is |
| school year. If you need these funds before the | | | | good student loan consolidation advice. |
| beginning of the next semester than you need to | | | | |