New eSignature Offers Last Minute Consolidation Options for Federal Student Borrowers

With less than 24 hours left for graduates to consolidate their federal student loans at the current lower interest rates, borrowers are turning to esignature as their last remaining option. On July 1, 2006, interest rates on federal student loans are scheduled to make a near-record setting 35% increase over the current loan rates. Graduates who qualify and apply for a student loan consolidation prior to July 1 will be able to lock in their interest rates, protecting them from the increase. However, graduates' and student loan borrowers application forms must be received before July 1 in order to be protected from the rate increase.

Quincy, MA (PRWEB) June 29, 2006 -- With less than 24 hours left for consolidation of federal student loans at the current lower interest rates, borrowers are turning to esignature as their last remaining option. On July 1, 2006, interest rates on federal student loans are scheduled to make a near-record setting 35% increase over the current loan rates. Those who qualify and apply for a student loan consolidation prior to July 1 will be able to lock in their interest rates, protecting them from the increase. However, graduates' and student loan borrowers application forms must be received before July 1 in order to be protected from the rate increase.

Jonathan Rudy, director of loan consolidation services at www.StudentLoanConsolidator.com, recently commented, "eSignature is a secure and fast way to sign up for and complete a federal student loan consolidation online. With only hours left before the interest rate increase, graduates and student loan borrowers need to act immediately. Using eSignature is the only option borrowers have left to help ensure they are protected from the upcoming rate increase."

"If a consolidation application arrives at the office at 12:01 AM on July 1, unfortunately there's nothing we can do to help them keep today's low rates. This is why eSignature is so important - you can instantly return your application, and by utilizing esignature, you'll be well ahead of the deadline. Some have applied for and signed their applications in as little as 15 minutes," said Rudy.

The interest rate increase, averaging 35%, will cost graduates thousands of dollars in unnecessary interest paid, if they fail to consolidate their federal student loans before the deadline.

"eSignature is faster then a standard application, encrypted to ensure your personal information will remain safe and secure, convenient - you can eSign your application from anywhere you have Internet access, and intelligent - check your status online once you've signed. Do it now and protect yourself from this interest rate hike," commented Rudy.

Federal loan holders who are interested in consolidating their federal student loans using eSignature are encouraged to visit www.StudentLoanConsolidator.com or call the Student Loan Network toll-free at (877) 328-1565.

www.StudentLoanConsolidator.com is a service of the Student Loan Network (http://www.StudentLoanNetwork.com), an education services company offering students options for managing the entire education life cycle, from getting into their college of choice to financing their education and beyond. The Student Loan Network is based in Quincy, Massachusetts and at www.StudentLoanNetwork.com online.

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