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.