Released: May 30, 2007

Consolidating your student loans

Source: Jeanne Sahadi, CNNMoney.com

It’s a good thing you got that college education. You can put it to good use navigating the complex maze that is the student loan industry as you consider whether to consolidate your federal student loans.

For those who have never done it, it’s a question that comes up every year in anticipation of the rate change on July 1 of the variable federal student loans.

But this year, there’s a twist. News of student lenders offering perks and kickbacks to colleges and alumni associations to include them on preferred lender lists have, understandably, made consumers wary.

But that actually may be one good thing to come out of the scandal. The advice about deciding whether and with whom to consolidate hasn’t changed. It’s just become even more relevant.

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