I’m not advocating one company over another, but I received this email today reminding me to consolidate my school loans before July 1 in order to lock in low rates. After July 1, the rates will rise, costing you thousands of dollars if you don’t consolidate now.
Don’t worry if you’re still in school. This company and others will allow you to defer payments until after you graduate.
Here is the message below, and may help some of you consolidate before it’s too late.
“A costly deadline awaits if you have unconsolidated student loans: an interest rate increase of as much as 65%. If you’ve waited this long you may also face an additional challenge: processing delays with mailed loan applications that may result in you missing the July 1 deadline. You don’t want to risk missing out on rates as low as 1.625%* for new graduates. The difference in your student loan payments will result in thousands of extra dollars that you wouldn’t have to pay if you consolidate now.
To help to ensure you qualify for the current interest rates we have made it possible for you to download an application and fax it to us so that we have your signed application before July 1. Please Note: If all of your loans are held by a single FFELP Lender or your total loan balance is less than $7,500 you must contact your current lender for consolidation. We will not be able to consolidate your loans.
To Apply Simply:
1.) For Complete instructions go to http://www.financialaid.com/fax/index.cfm?id=EMCD629
for an application.
2.) Fax that application to 866-630-2925 by midnight in your time zone June 30th.
3.) Mail the original copy of your fax to:
402 W. Broadway St.
San Diego, CA 92101
You will receive additional information from us confirming your eligibility. If you have any questions or would like to speak to a Loan Counselor please call 888-868-1391.
CEO | financialaid.com”