Time Is Running Out: Save Thousands With Federal Student Loan Consolidation Before July 1
Are you a college student or a recent college graduate with student loans? Do you know that student loan interest rates are expected to increase almost 40 percent on July 1?
Fortunately, you still have a chance to save money and consolidate your student loans into one fixed-rate loan.
Federal student loan consolidation allows students and families a chance to reduce monthly payments and lock in low interest rates-potentially saving thousands of dollars over the life of the consolidation loan.
According to Nelnet, a leading education finance company, a student in college with a $20,000 balance and 20-year consolidation term can save more than $5,000 in interest by consolidating before the July 1 deadline. In addition to interest saved, student borrowers will also reduce their monthly payment by up to $22 by locking in the lower interest rate.
“To take advantage of this money-saving opportunity, students and new graduates need to act soon,” said Tim Bornemeier, Managing Director of Nelnet Consumer Solutions. “Consolidating your student...
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