Tempe, AZ (PRWEB) June 28, 2006
Federal Student Loan Solutions (fsls.net), a Tempe, Arizona based full service education loan company has announced it will stay open until 12:00 PM Pacific Standard Time, June 30, 2006 to accept and process borrower’s last minute loan consolidation applications.
Federal Student Loan Solutions offices – located at 2201 South McClintock at McClintock and Palmcroft Avenues in Tempe, Arizona will be open from 6:00 AM until 12:00 PM PST June 30 to assist borrowers with last minute questions about their interest rates, payments and discounts they may be eligible for.
The U.S. Department of Education will impose the second largest increase in the federal student loan program’s history on July 1, 2006. For students, the repayment rate on variable interest student loans will go from 5.3% to 7.14% (from 4.7% to 6.54% for in school borrowers) and for parent borrowers from 6.1% to 7.94%. The 1.84% increase will cost a borrower owing $30,000 in college loans an additional $7,700 in interest over twenty years.
Consolidation also allows borrowers the ability to combine all their federal education debt into a single loan with a fixed interest rate based upon the weighted average of the interest rates of the underlying debt, and borrowers that consolidate before July 1, 2006 will lock in the lower rates.
The recent repeal of the single lender rule will allow federal student loan borrowers the ability to consolidate with any lender, regardless of who holds their student loans.
Federal Student Loan Solutions is a privately held corporation registered in Arizona. To learn more, contact Steve Butler at 1-888-347-8833.
About Federal Student Loan Solutions:
Federal Student Loan Solutions is a privately held Arizona corporation specializing in Federal and Private education funding, education debt restructuring and loan rehabilitation, for students and parents of students. For more information visit http://www.fsls.net or call 1-888-347-8833.
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