Best Rate Guarantee and Full Package of Student Loan Consolidation Perks for Graduates

If you’ll be graduating from college this year, congratulations! You’ll soon be among the top 15.5% of Americans in terms of earning a university-level education. You’ve likely learned a great deal about what it will take to succeed in your profession, but if you’ve borrowed to pay for school, it’s now time to learn how to pay off those student loans without breaking your budget.

Why Right Now Has Never Been a Better Time to Consolidate Student Loans with ScholarPoint

In June, when most people graduate from college, two critical factors are at work that can impact the amount you’ll repay throughout the lifetime of your student loan: the annual government-initiated student loan interest rate change and the beginning of your 6 month student loan repayment grace period

Why these factors matter to you when consolidating your student loans

1. The annual government-initiated student loan interest rate change

Most of your student loans have a variable interest rate – specifically loans taken out before July 1, 2006 can potentially gain a higher rate while you’re repaying them as the government changes student loan rates each year on July 1st.

So how do you know when to consolidate? If the interest rate is higher than it is today, you’ll pay more after July 1st. If it’s lower, you’ve missed a chance to pay a lower amount each month. Whether you consolidate today or wait until after July 1st, you’re taking a gamble on the changing interest rate – right?

Apply Today to Get the Best Rate, Guaranteed

ScholarPoint has a unique program called the Best Rate Guarantee that removes the risk of paying too much. When you begin the consolidation process before July 1st, the Best Rate Guarantee ensures that you’ll lock in the lower of the two interest rates, regardless of the how they change on July 1st.

When you apply for student loan consolidation now, ScholarPoint will hold your application until the new rates are published at the end of May. If the new rates are lower than today’s, ScholarPoint will process your student loan consolidation paperwork after July 1st. If the new rates will be higher, ScholarPoint will quickly process your application before the new rates go into effect, locking you into today’s low interest rates. It’s a win-win situation!

2. The beginning of your 6 month student loan repayment grace period

Most people don’t realize this, but when you consolidate student loans during the 6 month grace period after graduation, you lock in interest rates that are .60% lower than when you consolidate college loans after graduation!

But doesn’t that mean that you’ll forfeit your grace period and have to start paying your consolidation loan sooner? Typically, yes. But ScholarPoint can process your consolidation at the end of your grace period.

Plus, ScholarPoint has developed an option that can extend your no-payment time an additional 12 Months! By combining ScholarPoint’s No Payments for 12 Months forbearance, with your 6 month grace period you won’t need to make any payments whatsoever on your student loans for up to 18 months if you choose.

Why Consolidate Student Loans At All?

Being a recent grad and not having had to make any payments yet on your student loans, you may be wondering why you should consolidate student loans in the first place?

Good question. Most graduates consolidate college loans for a variety of reasons:

• Make one payment each month as opposed to multiple payments – easier to manage and can improve your FICO score

• Extending your repayment period allows you to lower your monthly payment by as much as 52%

• Student loan consolidation companies offer money-saving discount incentives not offered without consolidation

• Lock in a low fixed interest rate instead of worrying about the financial impact of variable interest rates

ScholarPoint: The Borrower-Friendly Lender

ScholarPoint has taken everything that is cumbersome, annoying, intimidating, and just plain frustrating out of the student loan equation and created a truly borrower-friendly process.

Ready to see how much you’ll save by consolidating with ScholarPoint? Fill out our 10 minute application today and experience the ScholarPoint difference.