Consider consolidating your loans with the Direct Loan Servicer!
 
Interest rates are expected in increase July 1, 2005!
bullet You can lock in a low interest rate for the life of the loan when you consolidate.
bullet Consolidating your loans with the Direct Loan Servicer while you are enrolled in classes provides the best terms for a consolidated loan.
ü You lock in the lowest interest rate available!
ü You retain your 6-month grace period! (only through DL Servicer) IF YOU CONSOLIDATE WHILE "IN SCHOOL"
bullet You may consolidate now even if you are not graduating yet. Doing so will make certain your current loans will have a flat, low-interest rate.
bullet If you have already graduated, and are no longer in classes, consolidating your loan just before your grace period ends will provide you with a better interest rate than consolidating after your loan goes into repayment.
bullet Check the resources below to see if consolidation is the right choice for you.
 
Not all consolidation loans are the same
bullet By now, you have most likely received loan consolidation promotion from a number of private lenders.
bullet The Financial Aid Office does not endorse any specific loan consolidation option offered by private lenders - including NelNet
bullet Only Federal Direct Loan Consolidation allows you to consolidate while "In School" so you don't have to be graduating to consolidate... and to lock in the low interest rates!
bullet If the promotion sounds too good to be true, it probably is!
bullet Special incentives from private lenders sound great, but borrowers rarely meet the criteria for receiving the incentives! Should you comparison shop lenders, compare the loan terms without taking into account the special incentives.
bullet If you choose to comparison shop, we recommend that you consider consolidation loans from lenders with whom you currently have loans.

The Direct Loan Servicer is a safe option

bullet You can complete the application and sign the promissory note online using your PIN number from the U.S. Department of Education
bullet If you set up automatic electronic payments, you can reduce the interest rate of your loan.
bullet Use this "Borrower's Guide to Direct Loan Consolidation"  link to get more information
bullet Or, go directly to the Direct Loan Consolidation web site
bullet Or, call 1.800.557.7392

If you are considering including a Federal Perkins Loan in a loan consolidation, we urge you to first contact the Account Maintenance Center to discuss your circumstances and whether or not consolidation is a good option for you. In some cases, deferment or cancellation provisions on Perkins Loans will be lost if the loan is included in a consolidation. The Account Maintenance Office is in Room 209 of the Administration Building, or at 426-2134

The Boise State Perkins Loan Servicer is:

Campus Partners
P.O. Box 970004
Boston, MA 02297-0004
ph. 800-334-8609

 

5.13.2005