How To Cut Student Loan Payments In Half by mmcsx


									 How To Cut Student Loan Payments In Half
   (NAPSA)—One thing many
students don’t learn in college is
how quickly student loans add up
to high monthly payments once
school is done.
   Fortunately, new low interest
rates on federal consolidation
loans are making it possible for
borrowers to cut their monthly
student loan payment by more
than half.
   Loan consolidation is an in-
creasingly popular choice for stu-
dents burdened with heavy loan
payments. Loans can now be con-
solidated without paying a fee or         Consolidating student loans
requiring a credit check—and a         makes financial sense and a new
group called Consolidation Assis-      online program makes it easier
tance Program (CAP) even lets          for students.
borrowers sign their Federal Stu-
dent Loan Consolidation applica-       fastest turnaround times in the
tions online with a secured elec-      industry.
tronic signature.                         Even parents consolidating
   This technology helps speed         Parent Loans for Undergraduate
the borrowing and consolidating        Students (PLUS loans) can get
process, allowing loan applicants      rates as low as 3.00 percent
to secure the rates they want,         (including interest rate reduction
when they want them. In addi-          programs through CAP).
tion, the online process signifi-         “As graduates begin their post-
cantly reduces paperwork.              college life, consolidation can offer
   CAP Federal Consolidation           an affordable alternative to mak-
Loans are available to students        ing multiple, high interest-rate
who have borrowed at least             student loan payments,” says
$10,000 in federal student loans.      David J. Pollock, Assistant Dean
As of July 1, Federal Consolida-       for Student Financial Planning,
tion Loan interest rates are at a      Georgetown University School of
30-year low: as low as 1.625 per-      Medicine. “A consolidation loan
cent, fixed, for students who have     can help borrowers make the
left college and who participate       right start, by allowing them to
in CAP’s interest rate reduction       manage their student loan debt
programs.                              more effectively.”
   With CAP’s new, faster e-signa-        To apply for a consolidation
ture process, borrowers who apply      loan or for more information on
online for CAP’s federal consolida-    consolidation rates visit www.
tion loan can receive their loans in or call 1-866-311-
as little as 30 days—one of the        8121, seven days a week.

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