Calling all Procrastinators: There is Still Time to Consolidate Before July 1 Increase

La Jolla, CA (PRWEB) July 1, 2007

There is still time for procrastinators to consolidate their student loans before the clock strikes twelve on June 30, 2007. That's when interest rates on existing, variable-rate federal student loans will jump 0.08 percent (8 basis points) raising the rates from 6.54 percent to 6.62 percent.

Thanks to ScholarPoint's user friendly online application process that includes e-sign technology, recent grads can wait until 11:50 Saturday night to apply for a consolidation loan. "Although we don't recommend waiting that long, our innovative system allows borrowers to complete their application entirely online in under ten minutes 24 hours a day. ScholarPoint staff will also be on hand and ready to answer questions," said Chris Studer, President and CEO of ScholarPoint. "We would hate to see anyone miss the opportunity to save on their student loan repayments."

ScholarPoint has taken everything that is cumbersome, annoying, intimidating, and just plain frustrating out of the student loan equation and created a truly borrower-friendly process. In addition, the company offers industry-leading discounts. For example: by signing up for automatic payments and making 24 consecutive on-time payments, borrowers can reduce their interest rate by a full 1.5 percent.

And there is more good news for procrastinators who want to put off repayment of their student loans. Payments can be put off for up to 18 months by combining ScholarPoint's 12 Months No Payments option with the six month grace period for repayment.

ScholarPoint Financial, Inc. is a national online consumer lending company specializing in student loans and offering a full range of innovative education finance solutions. Loan options for students and their families include PLUS, Stafford, Consolidation and Private Loans. ScholarPoint combines industry-leading borrower benefits, best-in-class service and innovative technology. Unlike many other traditional loan sites, ScholarPoint's technology platform was designed exclusively for its website, integrating the entire process for an online experience that is simple, instant, and complete. http://www.ScholarPoint.com

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