Best rates for consolidating college loans

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Remember, "Rome wasn't built in a day." With debt consolidation, it's not all or nothing.If you can save money now with a bad credit home equity loan, then take advantage of the monthly savings.Many people fall into a student loan trap and have trouble paying. You may look to be consolidating now, and that is smart. Many people do not know how to save for college in a way that will actually help them avoid student loans.We want to offer you the best student loan consolidation rates, but we also want to help you save money in the future.Learn some of the smart ways you can save for college, and even save for your children's college education.

Rates on Stafford loans currently in repayment will rise from 5.3 percent to 7.14 percent.

Rather than variable rates, new Stafford loans issued after June 30, 2006, will be fixed at 6.8 percent, while new PLUS loans will be fixed at 8.5 percent.

Another important change to the rules affects current students.

Since the late 1990s, Stafford and PLUS loans have had variable rates that move up or down each year on July 1, with rates based on the three-month Treasury bill yield at the end of May.

But the rules for these loans have recently changed.

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