Making the monthly payment on your student loan may be a budget buster, but don't blow it off and go into default. It will stalk you for years, negatively affecting anything you need an acceptable credit rating for, including background checks for apartment rentals and possibly that "good" job.

Instead, consider refinancing. This year the interest rate on loans to students dropped more than 2 percent, to 5.99 percent and to 6.79 for parents borrowing for a child's education, according to the U.S. Department of Education. The new rates apply to loans secured after July 1, 1998, but you can take advantage of the lower rates by refinancing loans you obtained before that date. If you took out more than one loan during your student years, you can consolidate them, combining different types of federal educational loans into a single one at a lower interest rate, with one payment each month. This will extend the time to repay the loan, but it will reduce your monthly payments and make your debt more manageable.

The consolidation of rural schools in the United States has been a controversial topic for policy-makers, school administrators, and rural communities since the 180Os. At issue in the consolidation movement have been concerns of efficiency, economics, student achievement, school size, and community identity. Throughout the history of schooling in America, school consolidation has been a way to solve rural issues in the eyes of policy makers and many education officials. Today, faced with declining enrollments and financial cutbacks, many rural schools and communities continue to deal with challenges associated with possible school reorganizations and consolidations.

This paper, developed by the NREA Consolidation Task Force, provides a review of the literature on rural school consolidation, defines consolidation, addresses current research and issues related to consolidation with respect to school size, economies of scale, and student achievement, and concludes with proposed recommendations for the NREA Executive Board.

Factors Leading to Interest in Consolidation

As early as the mid 1800's, consolidation of schools was thought to provide students a more thorough education by eliminating small schools in favor of large ones (Potter, 1987). Legislation providing free public transportation was passed by the state of Massachusetts in 1869, paving the way for consolidation of rural schools. The invention of the automobile and paving of roads allowed students to travel longer distances in shorter amounts of time, decreasing the need for the many one-room schools built by early settlers.

The rise of industry in urban areas in the late nineteenth century contributed to the school consolidation movement. The prevailing belief during the industrial revolution was that education could contribute to an optimal social order using organizational techniques adapted from industry (Orr, 1992). Early school reformers and policy makers felt that an industrialized society required all schools to look alike, and began to advocate more of an urban, centralized model of education (Kay, Hargood, & Russell, 1982). Larger schools were seen as more economical and efficient, which was defined in terms of economy of scale. As a result of this thinking, urban and larger schools were adopted as the "one best model," and from this context rural schools were judged deficient.

Along with policies advocating an urban "one best system," model of education came studies on appropriateness of size. Conant (1959) determined that in order to offer the best possible college preparatory curriculum, a high school should have at least 100 students in its graduating class. Conant stated that the most outstanding problem in education was the small high school, and that the elimination of small high schools would result in increased cost-effectiveness and greater curricular offerings. Many who research trends in school consolidation believe that Conant's study and subsequent book The American High School Today, contributed much to the move toward school consolidation (Smith and DeYoung, 1988; Pittman and Haughwout, 1987; Stockard and Mayberry, 1992; Walberg, 1992; Williams, 1990).

In addition to policy-makers and education professionals, private businesses, in the interest of financial gain, have encouraged school consolidation. International Harvester Company, a major promoter of school consolidation in the 1930s, produced a catalog with several pages devoted to its promotion of newly manufactured International Harvester school buses (White, 1981). These business- government linkages in support of school consolidation are still evident today. In West Virginia, the legislature appointed a School Building Authority (SBA), to fund capital improvements for school districts. In order to gain approval from the SBA for improvements, districts had to meet mandated enrollment levels set by the state, which forced consolidation of small schools. Once consolidated, schools were then given funds for the construction of new schools or substantial remodeling of existing schools to meet new and larger class size requirements. The public was not in favor of this "forced" consolidation approach, and as opposition began to grow, the governor, a proponent of consolidation and supportive of private industry, responded by appointing a representative from the construction industry to the SBA board (DeYoung & Howley, 1992; Purdy, 1992).

While many soon-to-be freshmen are making their final decisions on which college to attend next year, many other students are researching student loan consolidation lenders for the best options for their student loans , as federal interest rates may change on July 1, 2007.

It is important that borrowers scrutinize their student loan consolidation options, being careful to go beyond colleges' Preferred Lender Lists to compile a list of lenders that reflects their own particular preferences and needs, according to NextStudent, a leading Phoenix-based education funding company. When borrowers consolidate with NextStudent, they not only will lock in outstanding terms and benefits, but they also will simplify the repayment of their student loans with an easy-to-manage single payment and competitive interest rates.

Since there are so many lenders with varying degrees of integrity, customer service and incentives, it is essential that students and their parents do their homework before selecting their lender, instead of simply accepting a lender from a college's Preferred Lender List. NextStudent encourages borrowers to begin by visiting their colleges' financial aid office and asking for an expanded list of lenders in addition to the recommended lenders list that is so widely available at most schools. The next step is to invest a reasonable amount of time in speaking with representatives from each company and researching each lender before rendering a final decision.

NextStudent is committed to serving students and ensuring that they get the best funding package available. All borrowers are personally assigned their own Education Finance Advisor to answer any questions and guide them through the student loan consolidation process, from start to finish. Borrowers oftentimes qualify over the phone in as little as a few minutes.

Since the government sets the base interest rates on consolidation loans, the only true differences among student loan consolidation lenders and their offerings are the incentives. In its effort to offer some of the most competitive products in the industry, NextStudent offers borrowers a 1 percent LOCKED RATE reduction once 36 consecutive on-time payments have been made. This interest rate reduction is locked for the life of the loan. NextStudent also offers an incentive package with a .25 percent interest rate discount for paying via Auto-Debit, as well as a 2 percent discount after 36 on-time payments (not locked).

IT'S NO SECRET THAT HIGHER EDUCATION COSTS ARE ON THE rise. Over the last two decades, the price of attending two- and four-year public and private colleges has grown more rapidly than inflation and family income. In fact, last year the average tuition and fees for four-year public colleges rose nearly three times faster than the national inflation rate.

Consequently, students of all economic levels are borrowing money to help finance their education. According to a report issued by the National Center for Public Policy and Higher Education, only 17% of the highest-income families borrowed for college in 1990, but that figure increased to 45% by 2000. In addition, the U.S. Department of Education reported the average amount of debt incurred by a public college graduate totaled $16,243 in 2000; those who attended private colleges incurred $17,613 in debt. For those who pursue graduate degrees, "Upwards of $100,000 [of debt] is very common, which is very scary," says Erica Sandberg, chief financial writer and media relations manager for Consumer Credit Counseling Service in San Francisco.

As grim as such figures are, there is some good news for student borrowers. Statistics show that more education still leads to higher salaries, and the College Board estimates that over a lifetime, those with a B.A. or higher earn over $1 million more than those with a high-school diploma.

Now is a good time to get a handle on your debt since interest rates for Federal Stafford Loans have hit an all-time low. So don't approach your loans begrudgingly. The debt you incur while studying can be an important investment in yourself.

Each year, the Society of Automotive Engineers (SAE; Warrendale, PA) holds a competition during which SAE student members conceive, design, fabricate, and compete with small formula-style racing cars.

This year, the Formula SAE (FSAE) team from Saginaw Valley State University (SVSU; University Center, MI) redesigned their car from the ground up to reduce weight and improve efficiency. In addition to replacing the sheetmetal on the car with carbon-fiber panels, team members reviewed and redesigned other components with an eye toward reducing weight while maintaining design integrity.

Spherical ball ends for the car's suspension system were among the components that came in for redesign. In 2004, the team burned more than 56 man-hours to build wax patterns needed to produce the investment-cast steel parts. With the competition a few months away and a local company willing to produce the parts, the students needed a way to reduce pattern-building time.

They turned to the SVSU Rapid Prototyping Center and its Solidica Formation Ultrasonic Consolidation RP system (from Solidica Inc., Ann Arbor, MI). The system uses ultrasound to make solid-state welds in thin aluminum tape to create solid metal parts that are then machined with very small end mills with short flute lengths. According to the company, this process allows production of parts with features such as sharp corners, without secondary EDM processing.

THE BURDEN of repaying student loans will soon get a little lighter. The rate on Stafford loans, currently 8.19%, could drop as much as two percentage points on July 1. For PLUS loans for parents (and Stafford loans issued before July 1998), the rate could fall to as low as 7%. Look for the new rates on our Web site, Kiplinger.com.

If you're repaying loans now, you don't need to do anything because the rate automatically adjusts each year. Most borrowers will see their payment drop to reflect the lower rate. But if you want to lock in the low rate for the remaining term of your loans, roll them into a fixed-rate consolidation loan before July 1, 2002.

Recent grads, please note: An even lower rate applies for the first six months after graduation--probably about 5.6% as of July 1 for loans taken out after July 1998. And if you consolidate during that six-month period, you can lock in the low rate.

If you do consolidate, beware of signing on for a longer repayment term, which will increase your total interest. "Most people take out consolidation loans for payment relief, so the term is set at the longest repayment period allowed," says Patricia Scherschel, an executive with Sallie Mae, which funds and services the loans. If you can afford the payments, keep the standard ten-year repayment term. For details, call Sallie Mae's information hotline at 800-448-3533.

Top-Yielding Money-Market Mutual Funds

30-DAY YIELD MIN.
Taxable TO MAY 3 INVEST.

1. McM Principal Preservation(*) 5.11% $5,000
2. Harbor(*) 5.09 1,000
3. Bunker Hill 5.04 5,000
4. Vanguard Prime 4.98 3,000
5. Fidelity Cash Reserves 4.94 2,500
NATL AVERAGE 4.45%

WEB ADDRESS TOLL-FREE
Taxable (WWW.) NUMBER

1. McM Principal Preservation(*) mcmfunds.com 800-788-9485
2. Harbor(*) harborfund.com 800-422-1050
3. Bunker Hill paydenfunds.com 800-572-9336
4. Vanguard Prime vanguard.com 800-635-1511
5. Fidelity Cash Reserves fidelity.com 800-544-8888
NATL AVERAGE

TAX. EQ. YIELD
Tax-free 30-DAY YIELD 28%/31% MIN.
TO MAY 3 BRACKET INVEST.

1. Strong Municipal 4.07% 5.75%/5.9% $2,500
2. Strong Tax-Free(*) 3.99 5.5/5.8 2,500
3. Vanguard 3.68 5.1/5.3 3,000
4. American Century 3.57 5.0/5.2 2,500
5. Calvert 3.55 4.9/5.1 2,000
NATL AVERAGE 3.18% 4.4%/4.6%

Tax-free WEB ADDRESS TOLL-FREE
(WWW.) NUMBER

1. Strong Municipal strong.com 800-368-1030
2. Strong Tax-Free(*) strong.com 800-368-1030
3. Vanguard vanguard.com 800-635-1511
4. American Century americancentury.com 800-345-2021
5. Calvert calvert.com 800-368-2748
NATL AVERAGE

(*) Fund is waiving all or a portion of its expenses. SOURCE: Money
Fund Report, iMoneyNet Inc., One Research Dr., Westborough,
MA 01585; 508-616-6600; http://www.imoneynet.com
Top-Yielding Certificates of Deposit

RECENT MIN.
6-month ANN. YIELD AMOUNT

1. NexityBank (Ala.)([dagger]) 5.25% 1,000
2. USAccess Bank (Ky.)([dagger]) 5.15 500
3. Giantbank.com (Fla.)([dagger]) 5.11 2,500
4. Southern Pacific Bank (Cal.) 5.05 5,000
5. IndyMac Bank (Cal.) 4.95 10,000
NATL AVERAGE 3.81%

WEB ADDRESS TOLL-FREE
6-month (WWW.) NUMBER

1. NexityBank (Ala.)([dagger]) nexitybank.com 877-738-6391
2. USAccess Bank (Ky.)([dagger]) usaccessbank.com 877-369-2265
3. Giantbank.com (Fla.)([dagger]) giantbank.com 877-446-4200
4. Southern Pacific Bank (Cal.) spbank.com 800-428-5056
5. IndyMac Bank (Cal.) indymacbank.com 800-734-6063
NATL AVERAGE netbank.com

RECENT MIN.
1-year ANN. YIELD AMOUNT

1. USAccess Bank (Ky.)([dagger]) 5.15% 500
2. Southern Pacific Bank (Cal.) 5.10 5,000
3. Giantbank.com (Fla.)([dagger]) 5.06 2,500
4. IndyMac Bank (Cal.) 5.05 10,000
5. NetBank (Ga.)([dagger]) 5.01 1,000
NATL AVERAGE 3.94%

WEB ADDRESS TOLL-FREE
1-year (WWW.) NUMBER

1. USAccess Bank (Ky.)([dagger]) usaccessbank.com 877-369-2265
2. Southern Pacific Bank (Cal.) spbank.com 800-428-5056
3. Giantbank.com (Fla.)([dagger]) giantbank.com 877-446-4200
4. IndyMac Bank (Cal.) indymacbank.com 800-734-6063
5. NetBank (Ga.)([dagger]) netbank.com 888-256-6932
NATL AVERAGE

RECENT MIN.
5-year ANN. YIELD AMOUNT

1. Key Bank (Ohio) 6.02% $5,000
2. Discover Bank (Del.) 5.92 10,000
3. Providian Bank (Utah) 5.80 10,000
4. Cross Country Bank (Del.) 5.80 5,000
5. Capital One (Va.) 5.74 10,000
NATL AVERAGE 4.63%

WEB ADDRESS TOLL-FREE
5-year (WWW.) NUMBER

1. Key Bank (Ohio) keybank.com 800-872-5553
2. Discover Bank (Del.) discovercard.com 800-347-7000
3. Providian Bank (Utah) providian.com 800-414-9693
4. Cross Country Bank (Del.) crosscountrybank.com 800-334-3180
5. Capital One (Va.) capitalone.com 800-564-7426
NATL AVERAGE

([dagger]) Internet only SOURCE: [C] 2001 Bankrate.com, a publication
of Bankrate Inc., 11811 us Highway 1, N. Palm Beach, FL 33408;
800-327-7717, ext. 274; www.bankrate.com
Yield Benchmarks
RECENT MONTH-AGO YEAR-AGO
Bonds & Treasuries YIELD YIELD YIELD

U.S. series EE savings bonds 4.50%(*) 5.54%(*) 5.73%
U.S. series I savings bonds 5.92 6.49 7.49
One-year Treasury bills 3.69 4.17 6.23
Five-year Treasury notes 4.74 4.84 6.76
Ten-year Treasury notes 5.22 5.23 6.51

(*) For bonds purchased after May 1,1997; 5.36% for bonds purchased
earlier.

Student loan borrowers who submitted incomplete applications and missed the July 1, 2006 deadline to consolidate student loans still may have a chance to receive a lower interest rate. Federal interest rates on student loans increased on July 1, 2006, but some borrowers may still be eligible to avoid the interest rate increase, according to NextStudent, the Phoenix-based education funding company.

Many student loan consolidation applications were not completed prior to the July 1, 2006 deadline due to the great demand for consolidation. Therefore, student borrowers who missed the deadline are making higher student loan payments since interest rates have jumped by 39 percent.

here is hope for borrowers in that the U.S. Department of Education as of July 1, 2006 extended the deadline for student loan consolidation to those borrowers who have a partially completed application on file with a lender. Numerous partially completed consolidation applications from incoming callers and online inquiries are on file at NextStudent. These applications were started prior to the July 1, 2006 deadline and many simply lack a signature. However, the Department of Education through its deadline extension is allowing these borrowers to consolidate at the pre-July 1, 2006 rates.

Many parents and students who are looking to consolidate their student loans are not aware of the 1 percent LOCKED discount incentive on federal student loan consolidation offered by Phoenix-based NextStudent, the premier education funding company.

Although federal law sets the interest rate for all federal student loan consolidation , lenders are at liberty to put together incentives that entice borrowers to fund with their company. But not all incentives are created equal, and the borrower must beware.

With NextStudent's federal student loan consolidation , when student loans are consolidated under the Standard Locked Package incentive, borrowers receive a LOCKED 1 percent discount on the interest rate after 36 on-time payments. This is a discount that is guaranteed and does not change for the life of the student loan.

While many borrowers offer similar incentives, NextStudent's discounts are permanent and cannot be forfeited. For instance, all borrowers with federal student loans , whether subsidized or unsubsidized Stafford loans for undergraduates or graduates, PLUS loans (Parent Loans for Undergraduate Students), or Perkins loans, qualify for NextStudent's 1 percent rate reduction.

However, most student borrowers are unaware that a student who has used deferment or forbearance on any federal student loan is INELIGIBLE for this same discount under some competing lenders. In addition, with some competing lenders it is easy to lose the discount after a single late payment. Between 85 percent and 90 percent of those borrowers who earn the 1 percent discount with other lenders lose the discount after 36 on-time payments.

Does it provide an opportunity for education or is it the beginning of the path to indentured servitude?

The desire to earn a degree in optometry is one that many follow - with the aid of student loans. Often these loans are the only means of paying for an optometric education, which continues to increase in cost each year.

While the availability of student loans on the front end seems a great advantage, the resulting student debt can have far-reaching effects that are only truly appreciated once repayment begins.

When I talk to students from the different optometry schools around the country, the main topic of conversation soon turns to the looming repayment of student loans. After my most recent conversation with a group of students I realized that student debt plays a major role in shaping the future of our profession.

There seems to be a point where students, in their last two years of optometry school, become increasingly aware that the repayment of student loans will become a reality sooner than they would like to think.

The third and fourth years of optometry school were once a time for students to turn their attention to practice opportunities.

Now, to a large degree, these students seem only interested in where they, as optometrists, can secure a job that will allow them to service their student debt.

More graduates, more debtWith student loans available, students eager to sign on the dotted line and student debt often approaching 108% of the cost of education (including room and board), optometry schools have increased the number of students in each class with some regularity. The end result is an increased number of graduates who feel that they must find a job so that they can service their student debt.

These greater numbers of optometrists in the job market leads to a significant advantage for corporate optometry, which is interested in hiring as it expands. We see far fewer optometrists graduating from school and starting their own practices, as was once the norm.

The corporate cycle

This whole scenario is just another illustration of supply and demand corporate optometry needs optometrists, the schools educate more optometrists, more optometrists have student loans, more optometrists feel that the only way they can make a living and amortize their student debt is to work in corporate optometry and the cycle is complete.

But now a problem presents itself. Many optometrists in corporate settings are, in some areas, beginning to realize that there are too many optometrists with too much student debt. They all seek corporate employment and there are only so many jobs to go around.

Some optometrists who built practices in corporate settings for years are finding that they can and are being replaced by a newer graduate, who also has student debt, but who is willing to work for less. Supply and demand strikes again!

For the past year there has been a conversation in student affairs about the possibility of the National Association of Student Personnel Administrators (NASPA) and the American College Personnel Association (ACPA) consolidating into a new, single national association. The Blue Ribbon Task Force has been appointed to examine the pros and cons of consolidating the two associations and making a recommendation to the respective governing boards. As one of the 10 members of this task force, I have been part of the conversation and have heard arguments for and against this idea. A single professional association in student affairs is not a new idea: NASPA, ACPA, and the National Association of Women Deans, Administrators, and Counselors (NAWDAC) tried to unite in 1971. When it did not happen, principally because NAWDAC chose not to consolidate, the conversation did not stop. I cannot remember a national meeting when someone did not lament the need to attend both national meetings to recruit candidates for a position; present a paper or program; meet their responsibility on a commission, council, or board; sponsor a social event for their alumni; or present or receive an award.

In recent years the voices of members who want a consolidated association have grown louder. ACPA's gaining its independence from the American Association of Counseling and Development (AACD), an umbrella organization of counseling-related professions, increased the hope for one association. Most recently the financial difficulties in higher education that limit travel and diminish the number of people in student affairs who are willing to support multiple memberships, and the increased similarity of the two associations, have resurrected the possibility.

As one might expect, there are many rumors, misunderstandings, and much speculation about why NASPA and ACPA have begun to talk about a single consolidated association; and, as one would expect, much of the common wisdom on this topic is wrong. Among the more popular misconceptions is that ACPA approached NASPA with the idea of consolidation. Actually, the decision was mutual; but the conversation really had been going on for many years. There is speculation that ACPA was having financial problems and needed financial help from NASPA. Actually, ACPA had a couple of tight budget years, but is financially very stable and has a strong operating budget. Some have suggested that ACPA was growing much faster than NASPA and that over time the NASPA membership would shrink and ACPA's membership would dwarf that of NASPA; therefore, NASPA needed to consolidate. Actually, the membership of the two associations on average is about equal. Others have suggested that the majority of people in student affairs were already members of both associations; therefore, consolidation was a simple issue. Actually, about 30% of the members of the two associations have dual membership. There were rumors that NASPA was envious of ACPA's scholarly initiatives, such as the work in student developmental theory and the Student Learning Imperative, and wanted to consolidate to gain some of the intellectual capital ACPA had created. Actually, both associations have contributed significantly to the field, although sometimes with a different emphasis. Finally, comments were made that the associations were merging, implying that one organization would "take over" the other. Actually, the only conversation has been about consolidating, which is a process of jointly forming a new, single, combined association.

As a member of one of these associations, are you starting to get annoyed by members of the "other" organization who may think that about your organization? Wait, it gets worse. At the 2003 national meeting of each association, the Blue Ribbon Task Force held open forums to solicit input from members about a possible consolidation and distributed a paper highlighting issues being discussed by the Task Force. Several programs were presented by faculty and administrators not directly associated with the Blue Ribbon Task Force on the topic of a possible consolidation, and reports were given on this topic at both association business meetings. E-mail addresses for the Blue Ribbon Task Force were publicized, and members of the associations were encouraged to write and share their views on the issue.

What has surprised me about the comments that were shared either at the meetings or in E-mails is the we-versus-they subtext of these comments. I have a hard time with such comments, because I am part of that 30% who are dual members, and I have been since 1974. The problem I have with the we-versus-they debate is that "we" and "they" are really us: the people in student affairs. all of the arguments about how much "we" are better than "they" are, and therefore we shouldn't consolidate, makes no sense to me. Consolidation is not a contest with a winner and loser. Some people would like to reduce the discussion to a kind of ranking system like US News and World Report does with colleges. Sorry, but the value of that kind of attitude escapes me; it just doesn't lead anywhere constructive.

Does it provide an opportunity for education or is it the beginning of the path to indentured servitude?

The desire to earn a degree in optometry is one that many follow - with the aid of student loans. Often these loans are the only means of paying for an optometric education, which continues to increase in cost each year.

While the availability of student loans on the front end seems a great advantage, the resulting student debt can have far-reaching effects that are only truly appreciated once repayment begins.

When I talk to students from the different optometry schools around the country, the main topic of conversation soon turns to the looming repayment of student loans. After my most recent conversation with a group of students I realized that student debt plays a major role in shaping the future of our profession.

There seems to be a point where students, in their last two years of optometry school, become increasingly aware that the repayment of student loans will become a reality sooner than they would like to think.

The third and fourth years of optometry school were once a time for students to turn their attention to practice opportunities.

Now, to a large degree, these students seem only interested in where they, as optometrists, can secure a job that will allow them to service their student debt.

For the past year there has been a conversation in student affairs about the possibility of the National Association of Student Personnel Administrators (NASPA) and the American College Personnel Association (ACPA) consolidating into a new, single national association. The Blue Ribbon Task Force has been appointed to examine the pros and cons of consolidating the two associations and making a recommendation to the respective governing boards. As one of the 10 members of this task force, I have been part of the conversation and have heard arguments for and against this idea. A single professional association in student affairs is not a new idea: NASPA, ACPA, and the National Association of Women Deans, Administrators, and Counselors (NAWDAC) tried to unite in 1971. When it did not happen, principally because NAWDAC chose not to consolidate, the conversation did not stop. I cannot remember a national meeting when someone did not lament the need to attend both national meetings to recruit candidates for a position; present a paper or program; meet their responsibility on a commission, council, or board; sponsor a social event for their alumni; or present or receive an award.

In recent years the voices of members who want a consolidated association have grown louder. ACPA's gaining its independence from the American Association of Counseling and Development (AACD), an umbrella organization of counseling-related professions, increased the hope for one association. Most recently the financial difficulties in higher education that limit travel and diminish the number of people in student affairs who are willing to support multiple memberships, and the increased similarity of the two associations, have resurrected the possibility.

Interest rates on student loans will increase by 1.93% on July 1 -- the largest single-year increase in the 40-year history of the federal student loan program. According to Chris Studer, Founder and CEO of ScholarPoint Financial, current and former students can beat the July 1 increase and save thousands of dollars in interest by rolling outstanding student loan debt into a fixed-rate federal consolidation loan.

ScholarPoint is an online education lender that offers a unique, cutting-edge method that has made consolidating student loans quick and easy. Unlike many other traditional student loan websites -- which are online lead generation sites for commissioned telephone sales teams -- applying for a Consolidation loan with ScholarPoint can be done entirely online. There are no credit checks, fees, or income verification. Borrowers can save even more if they consolidate while still in-school or during their grace period. Smart borrowers that take advantage of this opportunity can reduce their monthly payments by up to 70% and can also qualify for up to 1.5% in ScholarPoint interest rate discounts for auto payment and on-time payments -- which could make the rate as low as 1.375%.

Federal Stafford and PLUS loans carry a one-year variable interest rate. Every year in July the interest rate charged on a student loan resets based on rates tied to Treasury Bills. For the first time in four years repayment rates on these loans will go up by 1.93% on July 1, leaping from 3.37% to 5.3%.

ROUND ROCK, Texas -- New interest rates on student loans will take effect July 1, and they're likely to be higher. For those who have taken out multiple federal education loans, such as Stafford or PLUS loans, there's still time to consider consolidating those loans to lock in the current, low rates. To help borrowers weigh the pros and cons of consolidation, Mapping Your Future, a public service Web site co-sponsored by TG and other student loan guarantors, is offering an online chat event.

The chat, scheduled for 6 p.m. (CDT) on May 10, is designed to help student loan borrowers learn more about the advantages and disadvantages of loan consolidation. The live event provides a unique opportunity to receive answers to loan consolidation and financial aid questions from financial aid and career experts from across the country. Specific topics will include

--How to determine if loan consolidation is a good option

--Eligibility requirements

--Steps to apply for loan consolidation

--Other resources of information

TAMPA, Fla. -- This year, like every year, the Department of Education announced on June 1st the new Student Loan interest rates that take effect on July 1st (the big difference this year is the whopping 1.97% increase that has been announced). What makes this year different from all the previous years is that, because of a powerful new e-signature process developed by Academic Financial Solutions, borrowers will be able to consolidate their loans up until midnight on June 30th - and the lucky borrowers that take advantage of this will reduce their payments by over 50%.

e-Signature student loan consolidation is a secure, encrypted process that takes only a few minutes to complete - a process similar to filing Federal Tax returns online. Rather than receive a traditional paper application that has to be signed and mailed back, e-signature allows the borrower to review the application online, and then reply back stating that the information is correct. E-Signature student loan consolidation can reduce the student loan consolidation process by as much as one month versus the traditional "snail mail" method.

Waiting tables and working summers for a surveying firm gave David Hilmer a nest egg to help pay for college at the University of Wisconsin, Madison. But although the money he saved was a good start, it was far from what we needed.

"After about a year and a half, I was scrambling--how was I going to cover my dorm expenses and tuition?" he recalls. Now working as the director of business development at Little Tornadoes, an Internet consulting firm in New York City, Hilmer says that without numerous student loans (a federal Perkins, Stafford, and a university loan) he might not have been able to graduate.

More than ever, students are now relying on loans to help pay for college. Two-thirds of undergraduate students are in debt when they graduate from college, according to the National Postsecondary Student Aid Study conducted by the National Center for Education Statistics and the U.S. Department of Education.

When Kristine Dillon arrived at the Medford/ Somerville, MA campus of Tufts University in the fall of 1998, she was on a mission. The new executive director of the Student Services Project was charged with figuring out how to consolidate nine established departments that had reported to three deans and one vice president, into a single, customer- [read: student-] focused Student Services Center. That meant bringing together art of the customer "touchpoints" and information about each student, in order to better and more efficiently serve the students. But it also meant completely taking apart all nine departments and reassembling them--an undertaking that would also require establishing new methods of (and avenues for) service delivery, retraining and motivating art services staff; coordinating and establishing consolidated access to information silos; and physically moving art personnel into an efficient, service-oriented office environment. A five-year mission? Nope: the entire process was successfully completed in under two years.

Responding to Changes in the Student Loan Industry, SimpleTuition.com Expands its Offerings to Become the Industry's Most Comprehensive Resource for Student Loan Information

NEWTON, Mass. -- With tremendous scrutiny on the student loan industry, SimpleTuition, Inc. is making it easier than ever for parents and students to make informed education borrowing decisions. Starting today, SimpleTuition has significantly expanded the list of lenders and loans available for consideration via its student loan
The lesson from the recent student loan scandals should be that borrowers owe it to themselves to shop around," explained Kevin Walker, co-founder and CEO of SimpleTuition. "We want SimpleTuition to be part of a borrower's larger quest for college financing. Whether you select a loan via SimpleTuition or from another source, this is an important decision and you should do your homework."

Outsourcing student transportation can be successful when the relationship between the school district and contractor is given sufficient attention and understanding.

The shortage of qualified school bus drivers has strained contractual relationships, and has forced school administrators to spend more time actively involved in the transportation system. In addition, consolidation in the student transportation industry has fueled the perception that school districts have fewer contracting options.

The terms and conditions of a contract determine the level, style and quality of service. Transportation contracts should be based on thorough specifications, detailing expectations and needs.
When a school district becomes frustrated by the level of service, often the contractor is simply providing the services spelled out contractually. If necessary, contract terms can be modified through negotiation or rebidding. Any changes must be documented as an addendum to the agreement and consistently enforced.

Eugene Delacroix's main entry to the Salon exhibition of 1824 was entitled Scenes from the Massacres at Chios: Greek Families Awaiting Death or Slavery, etc. (1) This work depicts the aftermath of an episode involving protracted bloodshed from the Greek War of Independence (1821-27). (2) As has been well noted, critics at the time found the painting notoriously difficult to assess (Fig. 1). They saw imposing figures dominating the foreground, but the title gave them no help in identifying which of these figures should be considered the most important. They noted a fragmentation and obscuring of bodies, a thickening and thinning of paint across the surface of the canvas, and a sudden snaring of the attention by precise details, precise expressions. A figure of a bearded Greek male lies near the center of the composition (Fig. 2). He assumes a classic recumbent pose and is almost entirely nude. Stretched out among other figures also depicted as slumped or seated on sandy ground, he can hardly be described as completely different from his companions, who also seem exhausted and wounded. Yet time and again, contemporary viewers, whether or not they liked or disliked the Chios, professed themselves drawn to this one figure in particular.

Plant science departments at many universities face the challenge of maintaining core programs in the face budget shortages, while responding to the needs of the green industry which employs a majority of the graduates. A survey was conducted of national landscape horticulture companies to understand the differences between preparation in academia and preparation in the profession. The results of this study show that employers prefer characteristics of a high quality individual more than specific training or job skills. Furthermore, the results suggest that employers are uncertain as to whether current methods of teaching leadership skills and traditional character development activities are effective.

Philip Jones wanted nothing more than to marry his fiancee, fly away to Costa Rica, and embark on the rest of his life. But something was holding him back--the $40,000 in student loans he owes to Direct Loans and Sallie Mae.

Jones, 30, was stressed out because he knew that if he fell behind on his loan payments, the U.S. Department of Education could provide offsets against Social Security payments and garnish his wages and tax refunds, without a court order. Until recently, only the Internal Revenue Service wielded such power.

Luckily, the 2004 graduate of Rutgers University College of Engineering knew a little something about forbearance, a temporary suspension of loan payments that most lenders will allow when times are tough. For Jones, his wallet was being pulled in too many directions; he was trying to pay for a house, a wedding, and a honeymoon within a six-month period.

"I didn't have to make a payment for six months, so that money went toward the wedding and honeymoon. It's easing the financial stress," says the mechanical engineer, who works for Hayes Pump Inc., an industrial equipment distributor in Fairfield, New Jersey.

It's payback time for students who graduated from college last spring owing money on federal student loans. Your six-month-long grace period is about to end, and the money you owe--an average of $16,600 for undergraduates 18 to 25, according to Nellie Mae, a major student-loan provider--is looming large. The burden is still heavier when you add on credit card debt, which Nellie Mae says averages $2,000 for the same group of students, and maybe even payments you're making on a new car. What's the best way to balance the load?

Rebecca Carter has a plan. Carter, 31, is a veteran of student loans, having repaid about $7,500 from her first stab at college a decade ago. Two years ago she returned to school to complete her degree in business administration at Eastern Nazarene College, in Quincy, Mass.; she graduated in August with $23,000 in outstanding loans.

Carter is wiser, if not richer, the second time around. Before she begins repayment next March, Carter plans to consolidate loans from three lenders (with interest averaging about 7.5%) into a new loan from a single lender, and to extend the payment term from the standard ten years to 20 years. Carter estimates that loan consolidation will reduce her monthly payments 40%, so that she'll pay between $200 and $250 a month. That will give her breathing room to make payments on her more-expensive car loan at 11%.

The AAFP is now offering its members a program to help them manage student loan debt. The Federal Consolidation Loan Program from College Loan Corporation allows family physicians to refinance their student loans and reduce monthly loan payments by up to 58 percent, lock in low interest rates, and combine multiple student loan payments into one monthly payment.

According to the definition of experts, the best company for debt consolidation loan is one that makes credit counseling mandatory before getting you ready for online debt consolidation. It is true that your goal is to get rid of your current financial crisis. However, the best kind of free debt consolidation help is one that also teaches you the tricks so that you never get into same kind of trouble again.

One may wonder why experts defined a good debt consolidation company in this way. You should know that as a debtor you are eligible to get loan for consolidating debt only once in a decade. No lender is going to consider your application if you try to obtain a loan again during this period. That is why once you get out of your financial dilemma you should be determined not to repeat the mistake.

BBB or Better Business Bureau rating is one more technique that you can use for selecting a debt consolidation company. The base of BBB rating comprises of grievances and accolades from consumers. You can get instant information about the rating of a particular company by checking BBB ratings on the Internet.

Getting referrals from friends and relatives is yet another source of information about the credibility of a debt consolidation company offering free debt consolidation. If someone recommends a particular company then it means that he or she is satisfied with the company's services. It will also save you from getting into the trap of scam companies.

If you can locate a good debt consolidation company in a nearby area, then it is always beneficial for you as a borrower. In that case, you can go to the office of the company and talk in person about your present requirements and future goals. You can alternatively seek online debt consolidation.

No matter how reputed a debt consolidation company may be, it is not for you if it charges unreasonably high interest rates. After all, the purpose of availing consolidation loan is to pay a minimum amount as interest.

Before applying for a debt consolidation loan, ask yourself: Am I sure there isn't any other debt solution for me? If you have made up your mind after doing proper due diligence and are almost positive that the best way to eliminate debt is by consolidating them, then this article is the next step for the best bad credit debt consolidation loan.

Check the Interest Rates and Terms

A debt consolidation loan has several benefits, let's focus on two for now.

* Turning multiple debts into one monthly payment
* Lower interest rates

If when quoted a debt consolidation offer and one of these two benefits is not there then the loan may not be worth your time and eventually turn out to be a big loss. To clarify, a person is in $50,000 debt, from multiple creditors and sources. The overall average interest rate is (for example) 7% and the debt consolidation loan is offered at a 7.4% with additional down payments and closing costs. It is easy to see that the consolidation loan is expensive and not beneficial.

The Cheapest Loans Require Collateral

Unsecured debts often carry higher interest rates than secured ones. By applying for a mortgage, refinancing or by getting a home equity loan, you have better chances of getting a low rate even if you have a bad credit score. When an asset such as a home acts as collateral the home mortgage lender reduces that element of risk involved with the loan and can afford to offer lower interest rates.

A borrower, who is stuck in debts but genuinely wants to repay them in good faith, may be confused as to how to go about it. To clear off debts, some external help is required which can guide the borrower in this whole process. What he needs is debt consolidation help. It can help him get out of the mess that has been created willingly or unwillingly.

With debt consolidation help, the borrower can surely find out proper ways and means to manage his debts. This can be done by taking up a loan in the form of debt consolidation help. This loan is borrowed at a lower rate of interest which again saves the money of the borrower.

Debt consolidation help can be obtained to work out the following types of debts:
• Major Credit Cards
• Department Stores
• Hospital/Medical Bills
• Banks/Finance Companies
• Autos
• Personal Loans
• Oil/Gas Credit Cards

Debt consolidation help provides a variety of benefits. The new amount that is loaned for the debt consolidation help, is borrowed at a much lower interest rate. This means a considerable reduction in the monthly installments and also in the amount that was being paid as interest to the lenders. Debt consolidation help also reduces the trouble of the borrower as he has to pay a single monthly installment and does not have to go to multiple lenders. The earlier lenders may also reduce the rates when they see that the borrower has opted for debt consolidation help to repay debts rather than declaring bankruptcy.

To avail debt consolidation help, borrowers may have to pledge an asset as collateral. This is done as the agency or lender providing the debt consolidation help also requires some assurance from the borrower to lend him money.

Debt consolidation help is the perfect way to remove the burden of debts the easy way. This should be availed by the borrower so as to improve his financial position.

Many people, young and young at heart have the desire to continue their education. For most of them, that means taking out student loans to pay the exorbitant costs of higher education.

The cost of higher education has risen drastically over the past few decades.

This means that often, more than one loan is needed. In most cases, students will have these debts to pay when they graduate. Often, the employment that found after graduation is entry level or low paying and the student is left with huge debts that leave them almost penniless every month.

There is hope for those who have to choose which bills to pay every month.

Federal student loan consolidation was designed to assist the graduate by lumping all of their student debt into one bill to pay each month. This makes it easier by having to write just one check each month instead of several to different companies.

There are different programs that meet the needs of almost all that apply. Each of the programs will have a different interest rate.

When you first decide to apply for federal student loan consolidation, it is important that you research the subject as much as possible.

By doing a simple Google search, you will yield millions of links to information regarding federal student loan consolidation. You will find millions of links that can assist you in making a decision.

Ask questions until you are satisfied you understand the process. Once you have signed the papers, it is a legal and binding contract that you will have a difficult time backing out of.

Do not agree to pay a certain amount each month until you are sure that you will be able to meet that obligation. Make sure that the amount of your obligation will still allow you to pay your regular monthly bills.

There are many benefits to federal student loan consolidation. You are offered a much lower interest rate to make repayment of your student loans easier. Also, when you apply for this type of loan, you do not need any co signers, and a credit check is not done. The process is usually very quick, however it is important to remember that the interest rate will be higher.

Unlike other loans, a federal student consolidation loan does not have any fees or charges to apply. They also do not charge you any penalties for early repayment. This is a welcome relief to many who already have too much to repay.

You can apply for a federal student consolidation loan with any lender that you choose. Different lenders give most student loans. However, If all of your loans happen to be through just one lender, you must apply for your federal student consolidation loan with that lender.

Federal student consolidation loans offer a way to make repayment easier for the already stressed out graduate. There are several different plans that you can discuss with your lending institution to decide which one is right for you.