Gaurav Bhola, Contributing Editor
The witching hour is drawing near, midnight June 30, 2007 is fast approaching. If you are not prepared to consolidate, you will get stuck with higher interest rates on your variable-rate federal student loans. The interest rate will increase by 8 basis points (0.08 percent) this Sunday, July 1.
You need to consolidate your federal student loans by June 30 and lock in today’s lower interest rates. You can benefit immensely by lowering your rate now and saving thousands of dollars in interest in the long-term. It is a simple process of filling out an application, then speaking with an expert college loan consultant about your student loan options, and then closing the loan.
In fact you can complete the entire process with a loan consultant from beginning to end in thirty minutes or less. It is amazing how much easier the loan consolidation process has gotten today. Student loan consolidation entails paying the current loans fully and creating a new singular loan. This new loan has a fixed interest rate based on the weighted average of the rates of the loans consolidated, that number is then adjusted up to the nearest 0.125 percent. The interest rate can never exceed 8.25 percent.
If you have a Stafford loan and you are in your six-month, post-school grace period you may be able to lock in an interest rate as low as 6.625 percent by consolidating your student loans. In this manner you can avoid the July 1 and the post- grace period interest-rate increases on your current loans.
The process of loan consolidation and tips towards easy consolidation:
- You can go to a trusted and reputable site such as www.secureloanconsolidation.com and apply online. It is the fastest way to start your loan consolidation process.
- A www.secureloanconsolidation.com expert loan consultant will contact you for a complementary loan consultation. Your student loan consultant will walk you step by step through the process to make the consolidation fast and easy for you. The consultation offers you an opportunity to have your questions answered about the loan consolidation process before you lock in your new low rate.
- Make sure you feel comfortable with the school loan consultant and the process before locking in your low rate. Secureloanconsolidation.com offers a secure, transparent, fast, and easy way to get you new loan.
- By consolidating your loan you will have one simple low payment every month
So don't miss the deadline: midnight (PDT) on Saturday, June 30 to submit your application for student loan consolidation.
