Student Loan Consolidation Hot Topics

Press Release, hot of the wire…

Reserve Your Place for Student Loan Consolidation Before July 1 Interest Rate Hike

Quincy, MA (PRWEB) June 21, 2006 — On June 15, 2006, President Bush signed into law HR 4939, an emergency budget bill that included a provision for students and graduates with student loans to be able to consolidate their federal student loans with the company of their choice. This freedom of choice comes at a critical time, as graduates face a near-record average interest rate increase of 35% on student loans beginning July 1, 2006. Acting quickly can save graduates hundreds or even thousands of dollars over the life of a loan.

Christopher Penn, host of the popular Financial Aid Podcast internet radio show, commented, “This legislative change couldn’t have come at a better time than now. By opening up the student loan industry to more competition, borrowers - college graduates - will win with access to better benefits, better customer service, and a chance to work with the company of their choice. However, graduates need to get in the game as soon as possible - rates are going up in only a couple of weeks, and once today’s rates are gone, they’re gone forever.”

Jonathan Rudy, director of loan consolidation services at StudentLoanConsolidator.com, recommends that graduates electronically sign their applications. He recently commented, “eSignature is a secure and fast way to sign up for and complete a federal student loan consolidation online. Why wait for a paper application to get mailed out to you? Using eSignature can reduce the consolidation process by at least 10 days, further ensuring protection from the upcoming rate increase.”

“If a graduate’s application arrives at the office at 12:01 AM on July 1, unfortunately there’s nothing we can do to help them keep today’s low rates. This is why eSignature is so important - you can instantly return your application, and by doing it electronically, you’ll be well ahead of the deadline. Some graduates have applied for and signed their applications in as little as 15 minutes,” said Rudy.

Mr. Rudy also recommends, “You can file an application request now, even if you’re not sure you want to consolidate your federal student loans. Having an application on file will ensure that you receive this year’s lower rates - so if you’re unsure whether or not to consolidate, file a free application request and your ’seat at the table’ will be reserved if you change your mind, even after July 1.”

Students and graduates who are interested in consolidating their federal student loans using eSignature are encouraged to visit www.StudentLoanConsolidator.com or call the Student Loan Network toll-free at (877) 328-1565.

It’s been pretty exciting over the last few days. A congressional bill was pushed through congress early Thursday, and sent to the President for signature - a bill that in part will provide more consolidation options for federal student loan borrowers.

Before this law was passed, any student loan borrower with loans from only one lender, was allowed to consolidate with only that lender. This provided zero room for competition. While not every borrower falls into this category, there was a fairly large cross section of borrowers who could not take advantage of the numerous competitive consolidation programs available. Of course the lenders knew their borrowers couldn’t consolidate elsewhere, and offered only minimal money saving borrower benefit packages. But now that’s all changed!

Borrowers with only one lender can now branch out and consolidate with any company they choose (hopefully StudentLoanConsolidator.com). One thing they’ll find when venturing away from their current lenders are greater savings through borrower benefit programs. For example, borrowers can reduce their interest rate by up to .5% if they sign up for automatic checking account withdrawal, and 1% will be reduced if payments are made on-time for 24 months. These benefits account four thousands of dollars in savings that are not readily offered through their current lenders.

In summary, now is a great time for anyone who has federal loans to apply for a consolidation. If you remember from my previous posts, interest rates are set to increase by 35% on July 1, 2006. So don’t get stuck with a higher rate, call the experts at 877.328.1565 or visit www.StudentLoanConsolidator.com and use our fast and secure eSignature progam - the quickest way to get started.

I caught a news blurb from our top financial consultant and host of the Financial Aid Podcast, Christopher Penn:

Due to very recent legislative changes, all borrowers that have loans from only one lender are now eligible for student loan consolidation with the Student Loan Network. Previously, you were forced to consolidate with your sole existing lender, but thanks to the hard work of student advocates, Congress listened and overturned the single holder law - giving you the opportunity to save more money each month with the company of your choice. (thanks for choosing us)

But that doesn’t change the fact that time is nearly up - June 30th is only two weeks away. With the influx of applicants, there will be processing delays. Get on the ball and start your consolidation application today

Please call us here at the office, toll-free, 877-328-1565 with any questions you might have! Or check out www.StudentLoanConsolidator.com

Just an FYI, a peek behind the curtain here at the Student Loan Network. We process lots of consolidation applications every day, and it’s been our experience that the US Postal Service can get a piece of mail delivered in the contiguous 48 states in about 3 days. Oddly enough, 3 days seems to be about the set time, whether you’re sending mail to the next town over or to Los Angeles (we’re in Boston). So, what does this have to do with consolidation?

Well, simply put, we want to provide the best damn service possible to everyone who uses our services. We know there are thousands upon thousands of choices when it comes to student loan consolidation, and we’re tickled that you not only found us, but applied with us as well. That said, we also don’t want to make promises we can’t keep, and today’s low rates expire on June 30, 2006 at 11:59 PM. If we don’t receive your signed application back here by then, we can’t give you the 2005-2006 rates.

If the postal service takes 3 days to get you a piece of mail, and you turn it around that day, it’s another 3 days back to us. Thus, beginning 6 days from the deadline, we won’t be able to send out paper applications in the mail with today’s rates. After June 23, 2006, we will only be able to accept eSignature applications if you want today’s rates to be locked in.

You should probably use eSignature anyway, as it’s faster and more secure than postal mail. But after June 23, it’ll be the only choice for which we can offer today’s rates.

Apply for a student loan consolidation with eSignature now.

Lets go over this again. July 1st is just around the corner, rates are increasing by 35%, and the option to consolidate your student loans at this years low rates is slipping away by each passing day.

eSign your consolidation application today and don’t get caught up in the paper trail delay. eSignature is faster then a standard application, encrypted to ensure you information will remain safe and secure, convenient - you can eSign your application from ANYWHERE, and intelligent - check your status online once you’ve signed.

I know…sounds great - but that’s just the application process. Remember, consolidation will lock in this years low rate and save you a boatload of cash.

So lower your monthly payment and make life more affordable, eSign your federal loan consolidation today.

Call the experts at 877.328.1565 or www.studentloanconsolidator.com

Hello to all of my faithful readers! As you’ve probably been reading over the past few days, the interest rates for consolidation have been set and are due to increase by 35%. July 1st is right around the corner, and the chance to consolidate your student loans at the lower rate is almost gone… Don’t waste anymore time - eSign your application today!

eSignature is a secure and fast way to sign up for and complete a federal student loan consolidation online. Why wait for a paper app to get mailed out to you? Using eSignature can reduce the consolidation process by at least 10 days, further ensuring protection from the upcoming rate increase.

The loan counselors at www.studentloanconsolidator.com can walk you through the entire eSignature process, from start to finish. So give them a call at 877.328.1565 right away and find out more about consolidating your loans with eSignature.

- The time left to save cash on your student loans is nearly gone.

You’ve read the press releases, seen the news bulletins, and received the junk mail… The T bill has been set, and federal student loan rates are going up 35% on July 1st - here’s the breakdown:

Stafford Loans for students in school: 6.543%, up from 4.70%
Stafford Loans for graduates in repayment: 7.143%, up from 5.30%
Parent Loans for Undergraduate Students (PLUS): 7.943%, up from 6.10%

So, take your current student loan rate, add about 1.84%, and that’s what you’ll be paying in about 30 days. This increase will translate into hundreds of dollars spent each year - cash that can be saved by simply consolidating.

If your not sure if you qualify for consolidation, or want to find out more about the rate increase and how much you can save, call the student loan people at 617.328.1565, or visit www.studentloanconsolidator.com and apply online. You can even sign your application online using our secure eSignature program - no mailing, no paper, and no delays!

Remember, consolidation is a completely free, none-credit based federal program that comes with cash building borrower benefits. But time is short, so don’t wait any longer…