Lock in Lower Rates On Student Loans by July 1

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Interest rates on federal student loans will rise almost 2 percentage points July 1, meaning consolidating your loans before then can lock in lower rates.

"The July 1 interest-rate increase is the 2nd largest increase in the history of the Federal Student Loan program," said Michael Babb, president of loan consolidator Academic Financial Solutions. "Borrowers who don't take advantage of consolidating their loans at the current interest rates will feel the impact of higher loan payments until their student loans are paid off, and they will be subject to any future, automatic rate increases as well."

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Lock in Lower Rates On Student Loans by July 1

For information, visit www.loanconsolidation.ed.gov, salliemae.com or www.AcademicFinancial.com.

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