It's a no-brainer at this point. You want to consolidate before rates rise,
It is and it isn't. It is from the point of view that rates are the lowest they've ever been.
If it sent out rejection letters, it would have no money to give away.
The Deficit Reduction Act had a lot of cuts, and it had a couple of good things. These are the good things. One step forward, four steps back -- that's the way I characterize the legislation.
It's definitely the dark ages for federal support for higher education.
There are very few scholarships that give money simply for breathing. Probably most of the scholarships are merit-based. Awards that are need-based tend to be loans.
This is in some ways the dark ages of federal support of education.
Anybody who hasn't consolidated should consolidate before the law goes into effect. The appeal of consolidation under current law now is you're taking a variable rate and locking in at a fixed rate.
If you've got good credit, the private education loans for the upcoming year are going to be competitive.
The era of historically low interest rates on student loans has ended.