Federal student loan interest rates are predicted to make historic jumps as of July 1, 2006, according to StudentLoanConsolidator.com. For new student loans, the recently passed Deficit Reduction Act will increase interest rates from as low as 4.7% currently to 6.8%, while the worst case scenario for students and graduates with existing loans shows a potential increase from as low as 4.7% to as high as 7.55%, an increase of 61%. If graduates don't consolidate their federal student loans immediately, they could find themselves paying thousands of extra dollars in interest. (PRWeb Feb 23, 2006)

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The Financial Aid Podcast, a free daily podcast featuring financial aid and FAFSA news, scholarship search and scholarship award information, and personal finance tips, is debuting a new segment in February 2006, the JobCast, to help students, parents, families, and anyone looking for a job to improve their chances of finding the career opportunity they want. (PRWeb Feb 21, 2006)

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President Bush has signed the Deficit Reduction Act of 2005, and that's bad news for college graduates in 2006. The Act ushers in a record increase in student loan interest rates, forcing college students and college graduates to pay thousands of dollars more for student loans at a time when tuition has never been higher. However, recent graduates can consolidate their student loans today to insulate themselves from the rate increases. (PRWeb Feb 15, 2006)

Read the full story at http://www.prweb.com/releases/2006/02/prweb346641.htm