personal loan for college student

College students brace for loan interest jump

Gwen Jones will in a few months begin repayment on $17,000 in college loan debt, so the e-mail, print and radio ads warning of a July 1 interest rate boost got her attention.

The 22-year-old Roanoke College graduate admits her father did most of her loan research in the past, but this time, the decision to lock in a lower rate by consolidating her federal loans was all hers.

"I took a personal finance course last semester and it really helped," said Jones, who received her diploma last month.

But for the vast majority of college students, graduates and even parents, the clock is ticking to lock in some of the lowest interest rates of their lifetimes for federal student loans.

On July 1, the government-set interest rate for federal student loans will sharply increase by 1.84 percentage points on current loans.

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Nelnet Statement on Missing Data Tape

LINCOLN, Neb., July 17 /PRNewswire-FirstCall/ -- Nelnet (NYSE: NNI - News) is notifying its potentially affected student loan customers, as well as other lenders whose customers may be affected, that a computer data tape containing the personal information of approximately 188,000 customers in the possession of United Parcel Service (UPS) cannot be located. The tape included data on loans serviced by Nelnet that were previously serviced by the College Access Network (CAN) between November 1, 2002 and May 31, 2006.

Nelnet has no reason to believe that any information has been used inappropriately, and has not received any reports of unauthorized activity. After an exhaustive investigation, UPS has informed Nelnet that the shipment could not be located. There is no indication that the package left UPS's control at any time.

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