Tuesday, August 02, 2005
Big Oops on Consolidation
There was a lot of hype (including mine) about how important it was to consolidate your student loans and lock in that 2.77% rate before it went up. Now this article says that 1000s of students are being charged the new higher rate, possibly for months, while their consolidation applications work their way through the system. The lenders say they're just overwhelmed by the backlog. Sooo convenient.