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Federal Student Loans Jump

By Victor Roberto, Producer

By Shannon Booth

Story Created: Jun 7, 2006 at 5:18 PM CST

Story Updated: Jul 6, 2006 at 9:09 PM CST

CEDAR RAPIDS - Federal college loans will become more expensive in a month, but there is a way to keep costs down.
Interest rates for government student loans will jump about 2% at the end of the month.
But anyone paying a government student loan can lock in a 4.7% rate by consolidating now.
A student with $20,000 in loans can save about $2,000 by consolidating by July 1.
College financial aid advisors encourage students to consolidate, even on small loans.

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