Consolidate Student Loans – Daily Financial Challenge

consolidate students loansAnyone that has student loans should consider consolidating them as soon as possible. As part of the Deficit Reduction Act passed in February by Congress, student loans will go from being variable rate to fixed beginning July 1, 2006. That means that the interest rates for Direct Loans and Stafford Loans (one of the more popular student loans because borrowers don’t have to show a financial need to get one) will increase from the current 4.75% to a fixed rate of 6.8% for Stafford loans and 7.9% for Direct Loans. If you take the initiative and act now to consolidate your loans instead of letting this deadline pass without action, you’ll likely save yourself several thousand dolla


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One Response to Consolidate Student Loans – Daily Financial Challenge

  1. Janet says:

    Can you or should you consolidate student loans if the student is still in school and not in repayment yet?

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