consolidate loan student unemployed

Now's the time to consolidate student loans

NEW YORK - Attention college students, recent grads and their parents: Interest rates on federal student loans are set to jump on July 1. You have just two weeks to consolidate and lock in a lower fixed rate.

If the above reads like an advertisement from a loan consolidation company, it's because my e-mail has been flooded with offers the past month. Consolidation is big business even for giants like Sallie Mae and the U.S. Department of Education itself. But the catch here is there is no catch. The ads are pretty much dead-on.

Interest rates on federally subsidized loans like Stafford and PLUS are reset every July 1 and this year will rise substantially. Stafford loans will go from 4.7 percent or 5.3 percent to 6.8 percent, and PLUS loans will go from 6.1 percent to 8.5 percent.

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News briefs

On Monday just before 2 p.m., a black male with a light complexion, about 5 feet 6 inches tall and wearing black jeans, a white shirt and black baseball cap demanded money from a teller at the 762 Joseph Ave. location and left with an undisclosed amount of cash.

On Tuesday, a man fitting a similar description but wearing a red and white baseball cap entered the location at 70 Lyell Ave. and left with an undisclosed amount of cash.

Brooks gives speech in D.C.

Monroe County Executive Maggie Brooks gave a speech Tuesday before the Federal Medicaid Commission in Washington, D.C., about the success of Medicaid managed care programs used by local insurance providers.

Brooks was appointed to the commission in July 2005 by U.S. Secretary of Health and Human Services Mike Leavitt and is the only public official from a local government on the panel.

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