Student Loan News, Updates and Blog Posts

Hi everyone, Chris from the Financial Aid Podcast with news, notes, and updates from the field.

First, we got a press release out about the interest rate hikes coming this July. Once the president signs off on the bill, it’s a done deal.

Consolidating is the only way – other than paying off your loans in full – to dodge the July 1 rate hike, and you can bet that consolidation companies will be SWAMPED this coming June, so if you want that peace of mind that everything is in order, consolidate now.

Second, experts in the field of financial aid like Mark Kantrowitz recommend consolidating:

“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. It’s going to be a dismal year for student aid,” he says. (CNN Money)

This is being picked up on CNN, NBC, and all the major outlets now – so you can bet as July 1 approaches, it’s going to get real busy, real fast.

Hey, if you have any questions about consolidating student loans, give us a call here at the office, toll-free, at 877-328-1565.