With Graduation Behind You, It's Time to Consolidate Federal Student Loans
November 17 2005 - 5:20AM
PR Newswire (US)
FREDERICKSBURG, Va., Nov. 17 /PRNewswire/ -- Last Spring's college
graduates can now reflect on their days of lectures, term papers
and campus life, but many also are forced to look ahead and face
the steep burden of large student loan debts. For the millions of
recent graduates approaching the end of their "grace period," a
six-month period beginning with the first day after their
separation date, and entering repayment status, now may be the best
time to consolidate, locking in a low interest rate, including
potentially lower rates associated with consolidating Federal
Stafford Loans during grace. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050714/DCTH039LOGO ) A recent
2005 report by the Center for Economic and Policy Research noted
that the cost of higher education has risen more than 50 percent
since 1990. The same study reports that debt levels exceed $22,500
for approximately 73 percent of students graduating from a
four-year, private institution. A recent Wall Street Journal
article noted that working two jobs is becoming a trend as
graduates realize that their highly marketable degrees can not
cover both living expenses and student loan debt. Student loan
consolidation can help graduates manage their college debts along
with the added living expenses they must now incur. Students who
choose to consolidate their Federal student loans can benefit from:
* lower monthly payments * fixed interest rates * flexible
repayment plans * one convenient monthly payment In addition,
borrowers who consolidate during their grace period may receive a
lower interest rate on their underlying loans -- depending on the
type of loans being consolidated. For those graduates rushing to
meet their grace deadline, selecting a company with online
application signature capability, can help ensure they receive the
grace benefit. "The consolidation process can often be overwhelming
for students and parents," said W. Clark McGhee, executive vice
president of marketing for Collegiate Funding Services, Inc. "We
have streamlined the application process and provide our customers
with the capability to complete the entire application online,
including the loan applicant's signature. E-signature allows
customers that are nearing the end of their 'grace period' to act
quickly and take advantage of the 'in-grace' discounts while
reducing the processing time tremendously." Parents and students
who would like to learn more about CFS' Federal consolidation
program, can visit the company's website at
http://www.cfsloans.com/ or call a loan consultant toll-free at
877-523-7562. About Collegiate Funding Services Collegiate Funding
Services Inc. (NASDAQ:CFSI) is a leading education finance company
dedicated to providing students and their families with the
practical advice and loan solutions they need to help manage and
pay for the cost of higher education. Collegiate Funding Services
also offers a comprehensive portfolio of education loan products
and services -- including loan origination, loan servicing and
campus-based scholarship and affinity marketing tools -- to the
higher education community. As of September 30, 2005, Collegiate
Funding Services had facilitated the origination of more than $21
billion in education loans; the company currently manages $12
billion in student loans for more than 476,000 borrowers. For
additional information, visit http://www.cfsloans.com/ or call
1-888-423-7562.
http://www.newscom.com/cgi-bin/prnh/20050714/DCTH039LOGO
http://photoarchive.ap.org/ DATASOURCE: Collegiate Funding Services
Inc. CONTACT: Ann Collier, Senior Vice President, Corporate
Communications, Phone: +1-540-368-5970, Fax: +1-540-368-5963, , or
Jean Marie Bucco, Marketing Communications Manager, Phone:
+1-540-368-5930, Fax: +1-540-368-5940, , both of Collegiate Funding
Services Inc. Web site: http://www.cfsloans.com/
Copyright
Collegiate Funding Services (NASDAQ:CFSI)
Historical Stock Chart
From Sep 2024 to Oct 2024
Collegiate Funding Services (NASDAQ:CFSI)
Historical Stock Chart
From Oct 2023 to Oct 2024