american education student loan
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Federal Student Loan Consolidation Could Save Delaware Borrowers ...
WILMINGTON, Del., June 27 /PRNewswire/ -- American Education Services (AES) is encouraging borrowers with either federal Stafford or PLUS loans to act quickly if they are interested in consolidating their student loans, before interest rates increase by almost two percent on July 1, 2006. Borrowers will have until midnight on June 30th to consolidate their student loans.
Borrowers who consolidate will benefit by locking in the current low interest rate and will make their repayment easier by lowering their monthly payments and by combining multiple payments into one. By consolidating and locking in interest rates before July, borrowers with a $25,000 loan can save an average of $5,580 in interest.
"Time is running out for borrowers to potentially save thousands of dollars in repayment on their federal Stafford student loans," said Christine Lodge, Director of the AES Delaware office.
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4 Steps to Make the Most of Your Student Loans
San Mateo, CA (PRWEB) July 20, 2006 -- Now that this year's cap-tossing and graduation parties are in the memory banks, the reality of paying for that higher education is setting in -- but students still have options to choose the best way to handle college and graduate school debt.
"Most Americans with student loan debt saw a flood of news articles encouraging borrowers to consolidate their loans before government loans underwent their annual interest-rate increase on July 1," said Brad Stroh, chair of Bills.com, who noted that because of the rising U.S. interest rate environment and a government-mandated reset of rates on student loans, rates on federal student loan debt increased by a substantial 1.84 percent on July 1. "Now that student loan rates are no longer at the 3 percent interest rates they hit during the economy's slowest days, it pays even more to be savvy about borrowing for school or returning to school."
According to FinAid, two-thirds of college students borrow to pay for school, with an average loan debt of nearly $20,000.