A novel way to tackle student loans

Post-Gazette.com:

This year, hundreds of thousands of students are expected to do something never before considered possible in the 40-year history of the Federal Family Education Loan Program: Consolidate their student loans while they are still in school.

That would allow them to lock in today's rates on student loans before the rates are poised to rise in July. The current rates available on consolidation loans are as low as 2.88 percent -- the lowest in the program's history. With lenders offering a slew of discounts for automatic and on-time payments, that rate can be knocked down even more.

The opportunity to consolidate loans is one of the key features of the government program, which guarantees loans offered through private banks. It gives people a one-time opportunity to refinance their student debt from different sources into a single, fixed-rate loan.

Posted by Tim on May 12, 2005 | 0 Comments

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