bad consolidate credit loan student

Fitch Rates Federated Student Finance Corporation's Senior Series ...

The ratings are based on the quality of the student loan portfolio, the credit enhancement provided, and the sound legal structure. The ratings address the ability of the trust to pay note principal at maturity and pay timely interest. The ratings do not address the ability of the trust to pay carry-over interest, nor do they address the ability of auction rate noteholders to successfully redeem their notes at an auction now or in the future.

The senior series 2006A-1 notes are issued under the Amended and Restated Indenture of Trust dated June 1, 2006 between FSFC and U.S. Bank N.A. The proceeds of the senior series 2006A-1 notes will be used to purchase student loans, pay accrued interest and premiums, make deposits to the acquisition and reserve funds, and to pay the costs of issuance.

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Federal loan interest rates to rise come first of July

Federal student loan interest rates will rise July 1 and consequently, many students and alumni are scrambling to consolidate their loans.

The move comes as a result of the Deficit Reduction Act signed by President Bush in February.

Loan holders will observe an increase from 4.75 percent to 6.54 percent. Parents with PLUS loans will experience almost a two point percent increase from 6.1 percent to 7.94 percent.

Consolidation allows loan holders the opportunity to "lock in" current interest rates on all of their federal student loans before the government raises them. Many graduates use consolidation as a way to lower their monthly payments by extending the term of their loan from 10 years to up to 30 years.

Ultimately, borrowers extending their loan term may pay much more in interest.

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