Consolidating Loans: If You Got a Loan Before July 2006 You Need to Know This
You should wait until July 1st to consolidate any loans because historically low interest rates will go into effect at this time.
Check out the Federal Direct Loan Consolidation program in July to take care of this.
It kind of sucks that everybody who got a loan after July 2006 gets screwed, but that’s the way it goes.
It seems to me that the only reason this is happening is to take a burden off of those individuals born prior to 1983. They are already in the workforce, and it will make things easier for them. I imagine the powers-that-be believe that those of us on the tail-end of these new rules will not have as bad an economy by the time we hit our stride in real world.