PHOENIX (PRWEB via PR Web Direct) June 22, 2006 – The single-lender rule that prohibited student borrowers from consolidating their student loans with the lender of their choice was repealed June 15, 2006 when President Bush signed into law the emergency supplemental spending package, H.R. 4939. This has paved the way for student borrowers to consolidate their federal student loans with the lender of their choice at low interest rates before the July 1, 2006 rate increase of 1.84 percentage points.

In order to take advantage of the low interest rates, student borrowers now are urged to consolidate before the July 1 deadline, according to NextStudent, the Phoenix-based premier education funding company. The well-established company offers low rates and unmatched benefits and incentives to all student borrowers.
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Single-Lender Rule Repealed; NextStudent Offers Low Student Loan Consolidation Rates

Phoenix, AZ (PRWEB via PR Web Direct) June 16, 2006 — Interest rates on federal student loans will increase 1.84 percentage points in less than three weeks on July 1, 2006, the second-largest rate hike in the history of the program. However, students can use consolidation, including in-school consolidation, to ease their monthly payments and save money over the long term if they consolidate before the deadline, according to Phoenix-based NextStudent, a premier education funding company.

At the discretion of lenders the U.S. Department of Education from now until July 1, 2006 is permitting in-school consolidation, which allows an original lender to release a borrower’s loans to other lenders so that borrowers can consolidate. The process no longer will be available after July 1. NextStudent is a participating in-school consolidation lender that helps student borrowers to achieve all their consolidation goals.
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NextStudent’s Low In-school Consolidation Rates Available Until July 1, 2006