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Feb 2, 2007

Exclusive: 60 percent DROP-OFF on Student Loan Consolidation?

Phoenix-based firm says that recent graduates still have time to save when consolidating their student loans, but time may be running out to lock-in a little-known discount offered by the company.

Once a student graduates, a six-month grace period goes into effect during which time the borrower is exempt from making payments. Many borrowers consolidate student loans during this time, taking advantage of low interest rates, which have increased from historical lows prior to July 1, 2006.

Those who have not yet participated in student loan consolidation may still lock in rates as low as 4.5 percent, fold all student loans such as the federal Stafford Loan or Parent Loan for Undergraduate Students (PLUS Loans) into one easy-to-manage package, reduce payments by up to 60 percent and attain significant savings and benefits.