May 14, 2006
The low interest rate on Stafford Loans and other federal loans is about to change. Due to the Budget Reconciliation Act of 2005 the interest on federal loans will rise 2.0 percentage points in July. That means that if you have not done so already it is in your best interest to consolidate your student loans now! Financial Aid advisors say that it is best to consolidate your loans now as paperwork could take up to a month to process.