Lock In Low Student Loan Rates By Consolidating Now

Act now to save. Unfortunately, that statement will be the norm, for a long time to come. Every July 1st, federal student loan interest rates are adjusted. Unless a downturn occurs, we will all be faced with higher interest rates. Usually the actual rate of interest is not known until May 30th. The rate varies annually according to 91 day treasury bills for Stafford loans and the 1 year Treasury bills for PLUS loans. It makes sense that if the Governments interest costs are going up, that they will pass on those increased costs. There is still a little good news though. Students can consolidate their loans. They can lock in the current rate for the life of their loan. That could potentially save you thousands of dollars in interest costs. If your decision is to conso View the rest of this article