Quincy, MA (PRWEB) June 14, 2006
With time running out for graduates to consolidate their federal student loans, conveniences such as electronic signature of applications are quickly becoming necessities. 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 consolidate their student loans prior to July 1 will be able to lock in their interest rates, protecting them from the rate increase. However, the catch is that graduates' application forms must be received before July 1 in order to be protected.
Jonathan Rudy, director of loan consolidation services at http://www.StudentLoanConsolidator.com , recently commented, "eSignature is a secure and fast way to sign up for and complete a federal student loan consolidation online. Why wait for a paper application to get mailed out to you and take the risk that the Post Office will lose it? Using eSignature can reduce the consolidation process by at least 10 days, further ensuring protection from the upcoming rate increase."
"If a graduate's 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 doing it electronically, you'll be well ahead of the deadline. Some graduates 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.
Graduates who are interested in consolidating their federal student loans using eSignature are encouraged to visit http://www.StudentLoanConsolidator.com or call the Student Loan Network toll-free at (877) 328-1565.
http://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 http://www.StudentLoanNetwork.com online.