student loan for graduate school

Access Group Launches Redesigned Web Site

WILMINGTON, Del., July 13 /PRNewswire/ -- Borrowers who visit AccessGroup.Org to obtain student loan information or to apply for a student loan will enjoy a new experience with the launch of the redesigned Web site. Access Group, the nonprofit graduate loan specialist, has provided access to graduate and professional student loans for more than 20 years.

"By incorporating feedback from usability studies, we have created a site specifically designed to improve the online experience for our customers," said Daniel R. Lau, Access Group's President and CEO. "Those who visit the new AccessGroup.Org will find a content-rich site that provides the information schools and student borrowers need, along with new features, streamlined navigation, and an easy-to-use format."

Updated features include an enhanced online application that cuts completion time by 50%, and a "Student Loan Finder" that helps borrowers find the loans that best fit their needs.

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Consolidation deadline for student loans nears

Kimberly Brown was eager to consolidate her multiple student loans - and lock in a low interest rate - when she graduated from Mercer University in May.

"You really don't have a choice with the interest rates going up in July," she said.

Brown, who has $30,000 in student loans, is just one of thousands of borrowers across the country who have just one week left to decide if they want to consolidate.

Starting July 1, the interest rate on federal loans for current borrowers who are still in school, in their grace period or in deferment will increase from 4.7 percent to 6.54 percent. Loans for borrowers in repayment will increase from 5.3 percent to 7.14 percent.

Stafford loans, one of the most common, will be set at a fixed rate of 6.8 percent.

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