Last Chance for Low Student Loan Rates

Be sure to look for special repayment deals offered by many lenders that can lower your rate. Some will give a quarter-point discount if you agree to have monthly loan repayments automatically deducted from your checking account. Others will cut your rate by a full percentage point if you make every payment on time for two or three years.

If you have a choice of lenders, check out collegeloan.com, cfsloan.com, or one of the many other consolidators you can find by doing an online search. Remember to compare terms, and check for any prepayment penalties.

And one last word of advice: When you consolidate, elect to pay your loans in 10 years or less. That way you can get on with your life and the advantages of your education a lot sooner. That's the Savage Truth.