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Student Loan Interest Rate Updates & News
Student loan information
As a result of recent changes at the Department of Education, you'll need to provide your student loan information with your consolidation application. We've prepared a short guide to help you get this information to us by phone, fax, mail, or email.
View the guide as a web page!
Print out the guide from a PDF!
New proposed student loan bill
Learn more about the new proposed student loan bill, known as the College Student Relief Act (H.R. 5) and how it might affect you!
Are you confused about Stafford and PLUS loan rates? Help is here
Are you confused about student loan interest rates with all the recent announcements? Here's a quick primer on what's happening.
For students with loans taken out before July 1, 2006
Federal student loans taken out before July 1, 2006 will remain variable interest rate loans. These loans will re-adjust every July 1 based on the results of the 91-day Treasury Bill Auctions, unless you consolidate them and lock in your interest rates. If you applied for loan consolidation prior to July 1, 2006, you are still eligible for last year's rates. Call us toll-free at 877-328-1565 to finalize your application.
- Stafford Loans for students in school: 6.543%, up from 4.70%
- Stafford Loans for graduates in repayment: 7.143%, up from 5.30%
- Parent PLUS Loans disbursed after July 1, 1998 but before July 1, 2006 (PLUS): 7.943%, up from 6.10%
- Parent PLUS Loans disbursed after July 1, 2006: 8.50%
Whether you have new federal student loans after July 1, or you already have federal student loans, consolidating your federal student loans is the best thing you can possibly do, because federal student loan consolidation with StudentLoanConsolidator reduces your monthly payment, no matter when you consolidate. Definitely, definitely consolidate. Students, parents, and anyone with federal student loans can consolidate them for free right online or by calling us here at the office at 877-328-1565. We offer great benefits and the best consolidation rates and services for students and graduates. |
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