Debt consolidation - Consolidate Your Student Loans Now!

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Informative Articles

Are Unsecured Debt Consolidation Loans Right For You?
When it comes right down to it, there are very few situations in which bankruptcy has to be the answer. Often times, when it comes to debt issues, unsecured debt consolidation loans are much less damaging answer than bankruptcy. What is...

Can Debt Consolidation Make My Financial Position Worse?
Debt consolidation is one of the best ways of reducing debt. Your monthly payments become much lower and this will give you more disposable income. Unfortunately, debt consolidation can also make your position much worse. The reason debt...

Debt Consolidation Refinance Loans - A Great Way To Lower Your Bills
For millions of homeowners, refinancing is the perfect way to consolidate debts. You can consolidate your debts, eliminate outrageous interest rates and fees, and make one low monthly payment. Credit cards, medical bills, and unsecured loans can all...

The Pro's and Con's Of Debt Consolidation Loans
You are swimming in debt. You have 4 credit cards maxed out, a car loan, a consumer loan, and a house payment. Simply making the minimum payments is causing your distress and certainly not getting you out of debt. What should you do? Some people...

Want To Consolidate Credit Card Debt?
Learning how to consolidate credit card debt is one of the best things cardholders can do. Consolidation is perfect for those who are looking to better their credit for the future. There are many advantages for cardholders who consolidate credit...

Debt consolidation - Consolidate Your Student Loans Now!

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 consolidation 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 consolidation is quite competitive. Those wishing to consolidate their loans should consider shopping around for the best deal while time permits.

About the Author

�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 consolidation and credit counseling, and HomeEquityHelp.net, a site devoted to information regarding home equity loans.