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