Debt cosolidation – Consolidate Your Student Loans Now!
By Charles Essmeier
The Federal student loan program has benefited thousands of college students in the forty years since it was introduced. Interest rates for the program have historically been quite competitive, and the program has allowed many people to acquire a college education who otherwise might not have been able to afford one.
At the moment, interest rates on Federal student loans are the lowest in history, but that is about to change. On July 1, 2005, the interest rates on Federal student loans will rise, due to an increase in the price of Treasury, bills, to which the interest rates on student loans are tied.
While an increase in interest rates is seldom viewed as a good thing, knowing about it ahead of can be helpful. Between now and June 30, new graduates or those who have been repaying existing loans can consolidate their student loans at current rates. The rates currently vary, with fixed rates being slightly higher than adjustable rates. Those considering cosolidation might wish to convert their loan to a fixed rate. Depending on the amount of the loan, borrowers may extend their loan terms to as long as 30 years.
There is also legislation pending in Congress that would change the Federal loan system so that all future loans are adjustable rate, with no fixed rate option. This will save the government money by not allowing students to lock in long-term loans at low rates during times of increasing interest rates. Students who wish to obtain a fixed rate loan may not have much longer to do so.
Rates will vary slightly from lender to lender, and the market for loan cosolidation is quite competitive. Those wishing to consolidate their loans should consider shopping around for the best deal while time permits. ©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt cosolidation and credit counseling, and HomeEquityHelp.net, a site devoted to information regarding home equity loans.
Article Index
|
|
Do you have the tools to maximize your profits?
As a WSR member, you'll not only receive a continually-updated wholesale directory, we'll also give you an invaluable retail industry information resource filled with tools that will send your sales through the roof.
You Receive:
|
|
Names, Addresses, Phone Numbers and URLs for thousands of Wholesalers and Distributors offering the products that your customers want and need. |
|
|
A complete directory easily searchable by product, brand, and manufacturer . |
|
|
Daily updates to our wholesalers and distributors database |
|
|
A complete business information library with valuable information to help you and your business succeed. |
|
|
Over $500 worth in valuable business software |
|
|
All 100% Risk-Free |
|
|
Act Now! Try Wholesalers and Distributors Risk-Free for Only $1.00 |
|
