December 3, 2004 :: Time May Be Right to Consolidate Student Loans
Interest rates are still at some of the lowest levels in years. And for some students and parents who are trying to pay off student loans with higher interest rates, now may be a good time to take advantage of the low interest rates by consolidating those student loans.
Mapping Your Future, a public service Web site providing college, career and financial aid information and services, will offer a "Loan Consolidation" chat at 6 p.m., Dec. 14. The chat is designed to help borrowers learn more about the advantages and disadvantages of loan consolidation.
This live event provides students and their families with a unique opportunity to receive answers from experts on specific loan consolidation and financial aid questions. Participants will learn more about:
- Advantages and disadvantages of loan consolidation programs.
- How to determine if loan consolidation is a good option.
- Eligibility requirements.
- Steps to apply for loan consolidation.
- Consolidation resources and tools.
Anyone with Internet access can join in the chat at www.mapping-your-future.org. Simple instructions will guide them on how to join the chat.
Mapping Your Future is a national collaborative public service project of the financial aid industry. It brings together the expertise of the industry to provide free college, career, financial aid and literacy services for students, families and schools.
The Mapping Your Future Web site is sponsored by the Oklahoma Guaranteed Student Loan Program (OGSLP) and other guaranty agencies that participate in the Federal Family Education Loan Program.
In Oklahoma, loans for higher education or post-secondary education made to students by private or public lending institutions are guaranteed by the federal government through OGSLP, which is administered by the Oklahoma State Regents for Higher Education.