By taking advantage of locking in the lowest rate possible within their grace period, recent graduates save the most money on their student loans and retain the privileges of the grace period.
Liberty Corner, NJ (PRWEB) June 6, 2007
Recent College Graduates who are smart about managing their student loan debt can ease the burden of repayment and save thousands of dollars in interest expense. Many students graduate with a staggering $35,000 in student loans. Accepting the standard terms on these loans can be a very expensive proposition.
With its generous borrower benefits, Student Funding Group, LLC (StuFund) advises recent graduates to save an average of over $4,000 throughout the life of their student loans by consolidating during the first six-months following graduation. This grace period offers a unique opportunity to lock in a 0.625% lower interest rate. "This is an opportune time and students have nothing to lose," says Sergio Sotolongo, CEO and Chairman of StuFund. "By taking advantage of locking in the lowest rate possible within their grace period, recent graduates save the most money on their student loans and retain the privileges of the grace period."
Why is this important? Right now graduates are about to go out into the workforce and are concerned about managing their debt. Since interest rates for existing variable-rate student loans are climbing .08% on July 1st, StuFund is concerned that students get the appropriate information to make the right decision about managing their student loans.
As graduates are flooded with information about loan consolidation, it becomes increasingly difficult to understand the process and many borrowers will not take advantage of the opportunity. StuFund encourages graduates to research and review as much as possible about loan consolidation and to utilize StuFund's Knowledge Center as a resource. Whether the graduate wishes to merely save money by taking advantage of the six-month grace period to lower the interest rate, or he/she wishes to substantially lower their monthly payments on federally insured student loans by extending the term, StuFund provides all of these services. The timing could not be better.
StuFund is a minority business enterprise in the educational loan space. It is built on the philosophy that each and every student can and should have access to funding for quality higher education. The company's mission is to provide loans, particularly for students who could not afford college without such financing, and to support and guide families through the financial aid process. In addition to offering educational loans for undergraduate and graduate schools and college loan consolidation, StuFund's Knowledge Center provides expert advisement to the public on college admissions and financial aid. It hopes to address the fact that many students do not have sufficient access to college advisement in their schools. Through partnerships with Universities, Corporations, and Non Profit Organizations, StuFund hopes to educate the public about the college application process and financing options. More information is available at http://www.stufund.com