Loan Consolidation

The U.S. Department of Education (ED) recently released two Dear Partner Letters, GEN-00-06 and GEN-00-07, announcing a new opportunity for loan consolidation before the July 1, 2000 interest rate increase.  Borrowers who apply quickly may be able to save by consolidating loans before new higher interest rates become effective.  Borrowers whose applications are postmarked prior to July 1, 2000 can take advantage of the current lower interest rates.  Under this ED guidance, the interest rate on the underlying loans is based on the postmark date as opposed to loan holder certification date.

Copies of these Dear Partner Letters can be found on ED's web site at http://ifap.ed.gov.  If you are unable to access this web site and would like hard copies of these letters, or if you have any questions related to this Bulletin, please contact the UHEAA Policy and Training Department at (801) 321-7166 or by e-mail at cjudd@utahsbr.edu.