Mar 12 2009
House Democrats voiced their recommendation that anyone eligible to consolidate their student loans do so now, in view of law changes and higher interest rates to take effect July 1, 2006.
This announcement comes on the heels of Senator Edward Kennedy’s own pleas that students take action now before the deadline.
In addition, the lawsuit filed by [...]
Mar 12 2009
The Administration is proposing to significantly restructure the current loan consolidation program to better address the needs of both current and former students.
The current interest rate formula for Consolidation Loans, in which borrowers lock in a fixed interest rate, deprives some borrowers of the benefit of falling interest rates while increasing Federal interest subsidies to [...]
Mar 12 2009
The latest government reports show the amount of student loan debt has skyrocketed to more than $50 billion. Now, students, parents and graduates have only a few days to save money.
Getting accepted to the college of your choice may not be as difficult as paying for it. More than 60 percent of U.S. students are [...]
Mar 12 2009
U.S. Representative Tom Allen (D-ME) recently warned student-loan borrowers about upcoming interest rate increases, stressing that immediate student loan consolidation is the best way to save thousands of dollars.
At a press conference at Southern Maine Community College, Allen urged borrowers to examine their unconsolidated loans, stating that this is the only way to lock in [...]
Mar 12 2009
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. [...]
Mar 12 2009
Between rising interest rates, terminated student loan programs, and a sticky piece of legislation called the single holder rule, many people have a tough time figuring out how to save money on their student loans.
EdFed has a pledge for these borrowers: We’ll help you save money, even if we’re not the company you choose to [...]
Mar 12 2009
PASADENA, Calif., June 6 /PRNewswire
In their attempt to consolidate their student loans, many students and graduates are spending valuable time on hold with lenders and waiting weeks for returned paperwork.
Fortunately, EdFed’s clients are not among these. Because of EdFed’s unique E-Signature process, borrowers can fully complete an online application for student loan consolidation in as [...]