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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
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