Student Loan 2006-2007 Interest Rates to Increase on July 1, 2006

Student Loan 2006-2007 Interest Rates to Increase on July 1, 2006: "Borrowers who consolidate prior to July 1, 2006 will be able to lock in their loans at a lower interest rate. FFEL and Direct Consolidation Loans have fixed interest rates that are based on the weighted average of the interest rates on the loans being consolidated. A lender can provide a new consolidation loan borrower with the lowest statutory weighted average of the interest rate for loans by using the lower of the weighted average interest rates on loans being consolidated as of July 1 or the date the lender received the borrower's consolidation loan application."