Time is running out for students looking to lock-in record low interest rates. June 30 is the deadline to apply for consolidation loans. After July 1 all loans will be subject to the new interest rates, some of them jumping two percentage points.
Financial advisors are telling students to take advantage of the record low interest rates because they may jump in the every near future.
This year, interest rates for students still in school are expected to rise from the current 2.77% to as much as five percent.
But many students say between the loss of the six-month grace period and the possibility interest rates could decline in the future, consolidation may not be for everyone.
You are encouraged to talk with an expert or research online at some of these Web sites.