If you have student loans, you might want to look into consolidating them right now. Try to get in before the July 1st deadline.
Students Rush to Consolidate Loans Before July 1
— reported by Hispanic Business
For the more than 2 million American college students that make up the Class of 2006, this is time for lots of celebration – and maybe a little panic. For more than 60 percent of undergraduates and more than 80 percent of professional school grads, the end of school means the beginning of student loan payments. With interest rates on federal student loans set to increase by nearly 2 percent as of July 1, many students are being encouraged to lock in lower rates now.
Undergrads borrow a median amount of more than $16,000, while professional school graduates borrow a median of more than $50,000, according to the American Council on Education. Yet those numbers only scratch the surface of borrowers’ real financial obligations. Depending on the rate of interest and the term of the loan, borrowers could pay back double, even triple, the amount of the original loan.