Consolidating Student Loans, Student Loan Consolidation, Federal Stafford Student Loans at EdFed

America's Top Student Loan Provider

Consolidating Student Loans Now Will Save on Interest, (from USA TODAY, December 23, 2005)

If you've been thinking about consolidating your student loans to lock in a low rate, be aware: Time will soon run out.

Congress this week raised the interest rate on popular Stafford loans to 6.8%, effective July 1, as part of a $40 billion budget-cutting measure. The rate will be fixed, not adjustable.

That's a big change. Stafford borrowers who consolidate now will lock in a rate of 5.375% for the life of their loans. Borrowers who are still in their grace period can lock in an even lower rate - 4.75%. Stafford loans are popular because borrowers don't have to show financial need to get one.

But the higher fixed rate will eliminate that advantage. "Anybody who hasn't consolidated should consolidate before the law goes into effect," says Mark Kantrowitz, a financial aid expert and founder of FinAid. "The appeal of consolidation under current law now is you're taking a variable rate and locking in at a fixed rate."

Rates have been climbing since May. If the formula had remained unchanged, the new Stafford rate probably wouldn't be much lower than the new fixed rate. But under the law, borrowers will no longer benefit if rates later decline.

How EdFed Helped others!

The service I received from EdFed was unbeatable in comparison to other lenders. They were highly trained and very friendly. I felt confident that they could help me, and they did. I saved $23,261 on my federal loans. Thank you EdFed!
- Jake K. Omaha, NE

* Your Name:		* Your E-mail Address:
		We respect your privacy.

* Your Friend's name:		* Your Friend's E-mail address:






Include a Message:


		+ Privacy Policy

Find student loans

Are you a parent or student?
What college will you be attending?
When will you graduate?
Amount of loan needed?
What is your email address? Receive student loan info. & news
Home zip code

call:

(800) 821-5659

CONSOLIDATION NEWS

	Schools Will No Longer Receive Paper FAFSA Forms (September 20, 2007)
news desk

CALCULATORS


			Stafford Loan Payment Calculator
			PLUS Loan Payment Calculator
			Loan Consolidation Payment Calculator



	Articles
	Calculators
	FAQs
	Glossary of Terms
	Loan Comparison Chart
	Scholarship Search


		Within 180 days of the funding date of your EdFed consolidation loan, you may add additional eligible loans to your consolidation loan.

Comprehensive List of Schools at which EdFed Assists Students.


		EdFed is a FFELP lender with lender identification number 834241. © Copyright 2012 EdFed. All Rights Reserved. Home · About Us · Contact Us · NewsSitemap Career Advice · Tell a Friend · Privacy Policy · Resume Service Resume Distribution Service · Post Resume · Job Search Course

EDFED NEWSLETTERS

Email Address:

+ Most Recent Newsletter

+ Newsletter Archives