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Under new legislation recently passed by Congress, interest rates on all federal student loans will rise in the very near future. Even more important, the new rates will be fixed, not variable; accordingly, you will no longer gain if interest rates drop in the future. Currently, students pay 4.7% interest on their Stafford loans. When the new legislation takes effect in the very near future, the interest rate on your Stafford loans will rise all the way to 6.8%! For most students, this will amount to an increase of thousands of dollars in interest payments on your loans.

EdFed has recently begun offering in-school federal loan consolidation. This program allows current students to consolidate their federal loans now and secure the current low interest rate for the life of their loans. This new program allows any currently enrolled student with $10,000 or more in federal student loans, attending graduate or undergraduate classes at least half time, to proceed with a consolidation. Previously, consolidations could only be done after graduating.

Consolidating your loans now will lock in the current low interest rates for the entire term of your loans. Do not think that you can wait until after you graduate—the new higher rate takes effect in the near future. Unless you consolidate now, you will be stuck with that rate for the life of your loan and you will pay thousands of dollars in unnecessary interest payments.

When students complete an in-school consolidation, they will pay nothing on their consolidated loans until after graduation. Borrowers are granted a period of in-school deferment as long as they are attending school at least half-time. Upon graduation, however, borrowers will enter repayment.

EdFed offers even greater benefits to students who choose to do an In-School consolidation through them. EdFed offers a .25% interest rate reduction for using auto-debit to make payments and, after making 36 on-time payments, borrowers will receive an additional interest rate reduction of 1.00% from their already low fixed interest rate. You will end up with the very low interest rate of 3.5%!

In order to take advantage of this amazing opportunity, students must act immediately! The application process is quick and easy, and no credit checks are required. Contact EdFed now to secure the current low interest rate, before its gone forever!


Further Reading
+Student Loan Consolidation Information
+Student Loan Consolidation Info - Why Should You Co Sign A Student Loan
+Student Loan Consolidation Information - Where To Look for Help
+Student Loan Consolidation Info - How to Choose the Right Loan Company
+Student Loan Consolidation Information - Differences Between Graduate & Undergraduate Financial Aid
+Student Loan Consolidation Information - What Are The Pros & Cons Of Private Student Loans
+Student Loan Consolidation Info - What's Behind It
+Student Loan Consolidation Information - What Are Co-Signer and No Co-Signer Loans
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How EdFed Helped others!
You were so helpful during my loan consolidation. I didn’t know how I was going to figure everything out and get something turned in by July 1st, but my loan advocate told me to relax and walked me through the process in no time. Even though he was extremely busy, he took the time to answer all of my questions and had everything complete in time to take advantage of the low interest rate and save me nearly $20,000. Thanks EdFed.
- Brianna L.  Seattle, WA
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Student Loan Consolidation Info - How to Choose the Right Loan Company

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Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.

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CONSOLIDATION NEWS
Schools Will No Longer Receive Paper FAFSA Forms
(September 20, 2007)

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