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Stafford Loan Interest Rates To Increase July 1st

Last updated on Tuesday, June 27, 2006

(UNDATED) - To consolidate or not to consolidate: that is the question facing thousands of current and former Indiana college students.

On July 1st, the government will increase Stafford loan interest rates by about two percent as part of the federal deficit reduction act of 2005.

Franklin College Director of Financial Aid Liz Sappenfield says some former students could save thousands of dollars by combining loans.

But those who choose to consolidate will also lose a portion of their grace period and other benefits.

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