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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


+	Income Contingent Repayment Plans, Part 1
+	Standard Loan Repayment Plans
+	Step-By-Step Guide to Consolidating Your Federal Student Loans Successfully
+	How to Negotiate Your Own Monthly Payment, Part 1
+	What Type of Loans Do You Have?, Part 2
+	Let's Make the Deal
+	Private Student Loan Consolidation Checklist
+	Graduated Repayment Program

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How EdFed Helped others!

Working toward graduation was hard enouph for me. When I heard about consolidation I thought it was just one more thing on my list of things to do. EdFed made it easy for me when I got some information in the mail. I called in and had my application filled in and signed in 15 minutes. That's less ime than it takes me to walk to class!
- Ryan P. New York, NY

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		It is important to consolidate before the end of your grace period. Your interest rate increases when you enter your repayment period.

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