If you are currently in school and have student loans, please consider in-school consolidation of your existing loans. This will be your last opportunity to consolidate loans and lock in low interest rates. July 1st interest rates rise to 6.8% from 4.7%, and a new rule will be in effect that in you're in school, you'll no longer be able to consolidate new loans.

I just consolidated by 100K to lock in the rate. Sure, I'll be getting more loans as school goes on, but at least locking those in at 4.7% will save me a chunk of change here in a few years when I start paying back. Your existing Stafford loans will be transferred to a new Federal Consolidation loan, separate from new loans. Make sure to put it in an -in-school deferrment while you're in school.

This will give up your 6 month grace period, but like I said, you will save thousands during payback.

For more information, click on Federal Consolidation Loan at www.salliemae.com (http://www.salliemae.com).

Hope this helps out a few of you.

That's a real bummer.

It's going to hit me hard since they're upping tuition to (I believe) $865/credit hour next semester...

Ouch!