Quincy, MA (PRWEB) December 7, 2005
Two potential developments in student loans are being eyed by college graduates across the United States as 2005 winds down - Congressional legislation that could make consolidating student loans more expensive, and rising interest rates that could cause monthly payments to balloon in 2006. However, one option vailable for graduates to protect themselves against significant changes in the cost of their loans is student loan consolidation.
Jon Rudy, director of customer service at http://www.StudentLoanConsolidator.com, said, "Congressional legislation is certainly one area of concern right now for graduates. Current proposals from both houses of Congress include making consolidation more expensive by levying one-time fees and increasing interest rates for certain type of loans, essentially taxing college graduates who are trying to organize their finances."
Mr. Rudy also indicated that the interest rate of the three month Treasury bill, the index to which student loan interest rates are set each year, has been consistently increasing over the past 18 months, from approximately 1% to 4% currently. "As the economy softens due to interest rate increases across the board, we expect student loan interest rates to continue to rise well into 2006. College graduates who do not consolidate their loans could encounter a major interest rate increase on July 1, 2006."
Consolidating student loans also offers graduates additional benefits, such as interest rate discounts, the convenience of a single monthly payment, an improved credit score and credit rating, and a fixed rate that is locked for the life of the loan.
"Certainly, student loan consolidation is a great way to 'future- proof' your student loans now. Other markets like housing, mortgages, and energy delivery could create a lot of turbulence into 2006, and consolidating your student loans reduces the unpredictability of at least one part of your personal finances," said Mr. Rudy.
Graduates of colleges, universities, and advanced degrees are encouraged to consolidate their loans as soon as possible at http:// http://www.StudentLoanConsolidator.com or by calling toll-free (877) 328-1565.
StudentLoanConsolidator.com is a service of the Edvisors Network, a multi-national 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 Edvisors Network is based in Quincy, Massachusetts and London, England. Visit them on the web at http://www.EdvisorsNetwork.com for more information.
Contact Christopher Penn with questions at firstname.lastname@example.org or call 617-328-1565.