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The variable interest rate on federal student loans will rise nearly 2 percentage points after midnight Thursday. Some borrowers could save thousands of dollars over the lives of their loans by consolidating at the lower rate.
The unusually sharp increase has prompted a wave of last-minute inquiries, causing back-ups for banks' 800 numbers and at the Department of Education's Direct Loan Servicing Center, where at least some calls weren't getting through Wednesday...
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The variable interest rate on federal student loans will rise nearly 2 percentage points after midnight Thursday. Some borrowers could save thousands of dollars over the lives of their loans by consolidating at the lower rate.
The unusually sharp increase has prompted a wave of last-minute inquiries, causing back-ups for banks' 800 numbers and at the Department of Education's Direct Loan Servicing Center, where at least some calls weren't getting through Wednesday...
Essay fragment
General points of the essay
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