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Student Loan Consolidation: Waiting Means Paying More (ARA) - In the current rising interest rate environment, July 1 is the ultimate deadline for student loan borrowers. Interest rates on Federal Student Loans have been at historical lows for the past few years, but that is about to change. Anticompetitive Student Loan Consolidation Law Struck Down by Congress TAMPA, Fla.----June 23, 2006--On the heels of last weeks repeal of the anticompetitive Single Holder Rule, student loan borrowers across the Country are finding out that large student loan lenders have been keeping them in the dark regarding their Federal right to consolidate their student loans and reduce their loan interest payments. College students brace for loan interest jump College financial advisers recommend consolidating the loans, with a few cautions. Gwen Jones will in a few months begin repayment on $17,000 in college loan debt, so the e-mail, print and radio ads warning of a July 1 interest rate boost got her attention. The 22-year-old Roanoke College graduate admits her father did most of her loan research in the past, but this time, the decision to lock Experts Recommend Consolidating Student Loan Before July 1 Rate Hike Its a small number that could have a big impact on parents and students repaying college debt. Interest rates on student loans will rise almost 2 percent July 1. Gerris mailbox Ive been reading and seeing on TV how I must consolidate [student loans All student loan borrowers can now consolidate with American Education Services ] and Id love to, but how do you consolidate ONE [student Lets Watch the Repay ] loan? I also have credit-card bills but I dont think those count towards consolidation, do they? -- Cassandra Your debt advice for Michelle Harrisburg, PA- Good news for student loan borrowers across the nation -- Congress has repealed the “Single Holder Rule”, allowing any student loan borrower to consolidate their student loans with American Education Services (AES). Under the Single Holder Rule, borrowers whose federal student loans were held by one lender were only able to consolidate their loans with that lender. Lock in loan rates now Shedding debt, while admirable, isnt always doable. But when stars align and you actually have the ability to repay a loan sooner than its due, should you? And can you, without penalty? Extreme debt levels rise A fortnight ago, our Money MoT experts analysed the finances of Michelle O’Connor, an assistant psychologist from Nottingham. | ||